{"id":16088,"date":"2020-10-01T18:29:41","date_gmt":"2020-10-01T18:29:41","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=16088"},"modified":"2020-10-01T18:29:41","modified_gmt":"2020-10-01T18:29:41","slug":"tbl-may-skip-paying-dividend-in-first-half-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year","title":{"rendered":"TBL MAY SKIP PAYING DIVIDEND IN FIRST HALF YEAR"},"content":{"rendered":"<p><strong>Author: AGAPE GODRICH\u00a0<\/strong><br \/>\n<strong>AfricaPress-Tanzania:<\/strong> Tanzania Breweries Limited (TBL), the largest brewer inland, may skip issuing dividend in the first half of this year after its operations were affected by Covid-19 pandemic.<\/p>\n<p>This is a first time TBL failed to issue a dividend.<\/p>\n<p>In the financial statement the brewer said on Wednesday that the decision comes after retaining fund, after paying some obligations, for future activities.<\/p>\n<p>TBL Managing Director, Philip Redman said its net profit dropped by 36 per cent to 47.59bn\/- from 73.88bn\/- and a big chunk was spent on paying income tax, and capital expenditure.<\/p>\n<p>\u201c\u2026. Some were used in financing activities and the remaining funds were retained for future activities,\u201d Mr Redman said.<\/p>\n<p>He added: \u201cTo ascertain prudent financial discipline and liquidity during the pandemic, a final dividend decision will be taken in the second part of 2020.\u201d<\/p>\n<p>The Group\u2019s reported cash generated from operations was 73.25bn\/-, of which 42.98bn\/- was utilized to pay corporate income tax, 10.88bn\/- to pay capital expenditure, 5.35bn\/- used in financing activities.<\/p>\n<p>The firm, whose share traded at 10,900\/-, revenue decreased by 9.0 per cent in the first half of this year impacted by the global Covid-19 pandemic.<\/p>\n<p>The group revenue dropped to 429.03bn\/- in six months in June compared to 473.49bn\/- in similar period last year and most affected period was in April and May.<\/p>\n<p>Mr Redman said that the revenue dropping also affected gross, operating and net profits in six months to June. Also, operating profit decreased by 36 per cent contributed mostly by a decrease of Beer revenues impacted by Covid-19.<\/p>\n<p>Operational Overhead and Sales and Distribution (S&amp;D) costs reduced in the first half of this year while other central costs, exceptional items and recharges have remained stable or increased.<\/p>\n<p>Operating margin ended up at 17.1 per cent compared to prior year which ended at 24 per cent.<\/p>\n<p>A total of 10.88bn\/- was invested in capital expenditure during the six-month period compared to 26.03bn\/- in the first half of similar period last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author: AGAPE GODRICH\u00a0 AfricaPress-Tanzania: Tanzania Breweries Limited (TBL), the largest brewer inland, may skip issuing dividend in the first half of this year after its operations were affected by Covid-19 pandemic. This is a first time TBL failed to issue a dividend. In the financial statement the brewer said on Wednesday that the decision comes [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":16065,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[3256,6010,1276],"class_list":["post-16088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-philip-redman","tag-sd","tag-tbl"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TBL MAY SKIP PAYING DIVIDEND IN FIRST HALF YEAR - Tanzania<\/title>\n<meta name=\"description\" content=\"Tanzania Breweries Limited (TBL), the largest brewer inland, may skip issuing dividend in the first half of this year after its operations\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TBL MAY SKIP PAYING DIVIDEND IN FIRST HALF YEAR\" \/>\n<meta property=\"og:description\" content=\"Tanzania Breweries Limited (TBL), the largest brewer inland, may skip issuing dividend in the first half of this year after its operations\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-01T18:29:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/10\/7c2919823b3054a2c51fdc3333bee958.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"TBL MAY SKIP PAYING DIVIDEND IN FIRST HALF YEAR\",\"datePublished\":\"2020-10-01T18:29:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year\"},\"wordCount\":348,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/10\/7c2919823b3054a2c51fdc3333bee958.jpg\",\"keywords\":[\"Philip Redman\",\"S&amp;D\",\"TBL\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/tbl-may-skip-paying-dividend-in-first-half-year\",\"name\":\"TBL MAY SKIP PAYING DIVIDEND IN FIRST HALF YEAR - 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