BUA Foods fixes  AGM for Sept. 25, declares N13 dividend

Lagos, April 1, ’25 (TNZ) BUA Foods Plc. has fixed Sept. 25 for its Annual General Meeting (AGM) at Transcorp Hilton Hotel in Abuja.

TheNewsZenith reports that the company announced this in a corporate filing with the Nigerian Exchange Ltd. on Tuesday.

It has also approved the payment of a final dividend of N13 per share to its shareholders, subject to withholding tax and shareholder approval.

The company, in a statement, said a final dividend of N13.00 per ordinary share of 50 kobo each will be paid to shareholders.

This is subject to appropriate withholding tax and approval.

It stated that it would pay only shareholders whose names appear in the Register of Members as of the close of business on Aug. 21.

“The shareholders’ register will close from Aug. 22 to Aug. 29.

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“On Sept. 25, dividends will be paid electronically to shareholders whose names appear on the register of members as of Aug. 21.

“The shareholders must have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts,” TheNewsZenith quotes from the statement.

TheNewsZenith recalls that the company declared a dividend of N5.50k per one ordinary share of 50k in its 2024 financial year.

The indigenous food manufacturing giant announced impressive financial performance as it recorded a revenue of ₦729.4bn, a 74.4% increase compared to the previous year.

Its profitability remained strong, demonstrating its resilience amidst evolving market dynamics, especially rising input costs.

BUA’s profit after tax in 2024 showed an impressive year-on-year growth, up 23 per cent, from ₦91 billion reported in 2022 to ₦112 billion in 2023. (TNZ)