August 8, 2022

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BUA Meals declares ₦63bn dividend for FY2021


Main producer of high-quality meals, BUA Meals Plc, one among Sub-Saharan Africa’s most useful corporations has declared N63 billion dividend 2021at its 1st Annual Normal Assembly (AGM) in Abuja.

Media Officer of the agency, Olaide Akinyanmi, in a press release stated the corporate declared a dividend with a complete worth of ₦63 billion for the fiscal yr 2021 following approvals by the shareholders translating to ₦3.50 per one atypical share of fifty Kobo- topic to the deduction of withholding tax- for all shareholders on the corporate’s register on the shut of enterprise on 13 July 2022.

This was pushed by the optimistic development recorded within the monetary yr ended 31 December 2021, making BUA Meals a listed firm on the NGX, with the best dividend payout in Nigeria’s Meals and FMCG trade.

In line with the assertion, the interval below assessment confirmed spectacular outcomes throughout the corporate’s three revenue-generating divisions- Sugar, Flour and Pasta. Working income grew by 56% to 79.9 billion, whereas Revenue Earlier than Tax (PBT) elevated by 63.96% to 77.5 billion. The entire revenue on the finish of the yr was N69.8 billion (+97% y-o-y).

Fee of dividends will begin on 4 August 2022, upon shareholders’ approval on the assembly.

Addressing shareholders on the assembly, the Chairman of BUA Meals, Abdulsamad Rabiu, stated: “2021 was a pivotal yr in our company historical past. It charted a brand new path for us to fulfil our imaginative and prescient to fulfill Africa’s rising demand for meals by selling meals safety and nourishing lives. Our daring choice to consolidate and restructure our enterprise strengthened our productiveness and improved our effectivity as a meals worth chain firm.”

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