International Breweries Plc, a prominent player in the Nigerian beverage sector and a member of the AB InBev group, has officially announced a proposed reorganisation of its share capital.
The strategic move aims to eliminate the company’s staggering N191.03bn in accumulated losses and pave the way for a return to dividend distributions.
In a corporate notice sent to the Nigerian Exchange Limited and obtained by The PUNCH, the brewer disclosed that despite a recent return to profitability, it remains legally unable to reward its shareholders due to the massive negative retained earnings sitting on its balance sheet from the 2025 financial year.
\To remedy the situation, International Breweries plans to deploy a portion of its Share Premium Account to absorb and completely wipe out the N191,032,749,000 accumulated loss.
According to the company, this bookkeeping adjustment will effectively restore its distributable reserves and re-establish its capacity to pay out dividends from future profits.
