BUA Foods Declares ₦81 Billion Dividend For 2022

Abba Dukawa

At the 2nd Annual General Meeting (AGM) held in Abuja on Thursday, shareholders of BUA Foods unanimously approved the proposed final dividend payment of NGN4.50 per share with a total value of NGN81 billion.

The value, according to the company, was driven by the positive growth recorded in the financial year ended December 31, 2022 as BUA Foods remains a listed company on the NGX, with the highest dividend pay-out in Nigeria’s Food and FMCG industry.

In his opening statement at the AGM, Abdul Samad Rabiu, Chairman of BUA Foods Plc., expressed his gratitude to the shareholders for their unwavering support which has been instrumental in the company’s outstanding performance since its inception.

He added that: “Building on the successful merger of our different businesses in 2021, we achieved greater synergies and efficiency within the year which resulted in a 30.9% growth in our profit after tax.

“Despite the effects of global supply chain disruptions caused by the Russian-Ukraine conflict, we continued to intensify our effort in creating value and expanding our capabilities across all operating divisions. Of particular mention is the commencement of commercial production of our rice operations.”