International Breweries sets N84 billion capital return to shareholders, see terms & conditions

International Breweries Plc has announced plans to return N84 billion to shareholders through a Return of Capital, with qualification deadline set for September 16, 2026 and payment scheduled for September 23. The company's share premium account, previously used to eliminate accumulated losses of N191.03 billion, will fund the distribution.

Approval for the return was granted by the Securities and Exchange Commission (SEC) and shareholders at the July 30, 2026 Annual General Meeting (AGM), and subsequently by the Federal High Court. The announcement, made on September 14, 2026, outlines four key dates and terms governing the capital return. International Breweries' ability to fund the return comes after a significant turnaround in its finances following two years of heavy losses.

Despite this improvement, the company is still unable to declare traditional dividends due to its accumulated losses. The H1 2026 profit after tax fell 7.21% year-on-year, while pre-tax profit rose over 21%. With shares trading below their January high heading into the qualification date, the N0.50 per share payout offers a meaningful yield for current shareholders as of September 16.