The payout marks a 136% increase from last year’s ₦5.50 dividend, approved at the company’s AGM in Abuja.
BUA Foods Plc has declared a dividend of ₦13 per share for shareholders after reporting a profit after tax of ₦265.9bn for the 2024 financial year. The announcement was made at the company’s 4th Annual General Meeting (AGM) held in Abuja.
According to the Director of Marketing and Corporate Communications, Adewunmi Desalu, the payout represents a 136 per cent increase compared to the ₦5.50 declared in 2023. Revenue for the year climbed to ₦1.53tn, more than double the ₦729.4bn recorded previously.
Chairman Abdul-Samad Rabiu thanked shareholders for their support and said the company was committed to tackling food supply challenges. “We remained steadfast in our operations and achieved notable progress on key strategic initiatives geared towards addressing food supply challenges and promoting food security,” he said.
Managing Director Ayodele Abioye attributed growth to investments in production systems and diversification. Shareholders applauded the performance, describing the dividend payout as a reward for consistency.