TBL ratifies 537/- as dividend

TANZANIA: TANZANIA Breweries Public Limited Company (TBL) shareholders have ratified a dividend of 537/- per share for the period ended December last year, at an Annual General Meeting (AGM).

The dividend approved is equivalent to 158.4bn/-, which is an increase of 85 per cent over the prior year.

TBL Chairman Mr Leonard Mususa, said despite the challenging operating conditions last year, including global geopolitical tensions and local excise duty hikes, the brewer demonstrated resilient growth and delivered significant value to our shareholders.

“Our steadfast execution of strategic initiatives and the market’s confidence in our diverse portfolio of brands resulted in a notable increase in revenue,” Mr Mususa said.

The revenue growth was driven by both beer and spirits, with significant contributions from the core and core-plus segments of the beer business and spirits.

He said the Group continues to execute its proven commercial strategy and increase sales and marketing investments behind its portfolio of beer and beyond beer brands to deliver consistent growth and long-term value creation.

“This accomplishment underscores our commitment to creating long-term value for our shareholders and reinforces our position as one of the nation’s leading contributors to economic growth,” he said.

During the year under review, TBL procured over 74 per cent of its raw materials within the country, directly and indirectly supporting the creation of over a million jobs throughout its supply chain.

Furthermore, TBL paid 586bn/- in taxes to the government last year compared to 528bn/-the year before, solidifying its position as one of the nation’s biggest taxpayers.