BUA Cement Set To Excite Shareholders With N80b Final Dividend Payment

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Abdul Samad Rabiu, Chairman, BUA Group

By Toyosi Olajide

BUA Cement Plc, one of Nigeria’s cement producing giants, has reported a final dividend payment of N2.60 kobo per 50 kobos ordinary share for the financial year ended 31 December 2021 to its shareholders.

This dividend payment is subjected to the shareholders’ approval at the Annual General Meeting (AGM) and appropriate withholding tax.

According to the statement filed with The Exchange (NGX), shareholders must ensure that their names are registered in the Register of Members by the qualification date of July 8, 2022.

However, for ordinary shareholders whose names appear on the Register of Members as of Friday, July 8th, 2022, the dividend which amounts to N88.05 billion will be disbursed electronically to them on Thursday, July 21, 2022, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their accounts.

The company’s registrar is Africa Prudential Plc and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

According to the report, BUA Cement Plc has 33,864,354,060 outstanding shares and a market capitalization of N2.40 trillion at the time of filing this report. The company’s shares opened trading on the 31st of March, 2022 at N70.75 per share and closed at N70.75 per share.

Following the report, BUA Cement Plc has released its audited 2021 financial result for the period ended 31 December 2021, giving a result of N90 billion, representing a 24.51% growth year on year while revenue of N257.33 billion was reported in the full-year period compared to N209.44 billion in the same period of 2022.

In addition, earnings per share were recorded as N2.66 kobo against N2.14 kobo in the corresponding period of 2020. In the year-to-date, the company’s share has prized up by 5.52% from N67.05 at the beginning of the year to N70.75 at the time of writing this report.

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