…proposes N13 dividend per share
BUA Foods Plc has for the year ended December 31, 2024 proposed a final dividend of N13 per ordinary share of 50 kobo each, subject to appropriate withholding tax and approval.
The company has 18 billion shares outstanding, each valued at N418 as at Wednesday, April 2. The proposed final dividend of N13 per share amounts to N234billion when matched with the shares outstanding.
BUA Foods has released its audited annual report and financial statements for the year ended December 31, 2024.
The Group’s revenue from contracts with customer increased to N1.527trillion in 2024 from N729.443 billion in 2023.
The proposed final dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on August 21, 2025.
Read also: BUA Foods profit rises by 145.3% as revenue hits N1.53trn
BUA Foods profit before income tax (PBT) in 2024 rose to N284.322billion from N108.123 billion in 2023. BUA Foods profit after tax (PAT) increased to N265.997 billion from 2023 low of N112.097billion.
The register of shareholders will be closed from August 22 to August 29, 2025. The qualification date is August 21 while payment date is on September 25, 2025.
The dividends will be paid electronically to shareholders whose names appear on the Register of Members as at August 21 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
BUA Foods Plc was formed in November 2021 following a scheme of restructuring under Section 711 of the Companies and Allied Matters Act involving BUA Sugar Refinery Limited, IRS Flour Mills Limited, IRS Pasta Limited, BUA Rice Limited, and BUA Oil Mills Limited, further to which BUA Sugar Refinery Limited (a private limited liability company, incorporated on April 13, 2005 and commenced business operations in September 2008) emerged as the surviving entity.
As part of the restructuring, the name of the enlarged entity was changed to BUA Foods Plc with its operations reorganised into five business divisions: Sugar, Flour, Pasta, Rice and Edible Oils.
In December 2021, the Company was converted into a public limited liability company. BUA Foods is affiliated with diverse group companies under the BUA brand that span the food and infrastructure sectors, and was listed in the Nigerian Exchange Group (NGX) on January 5, 2022.
Furthermore, by share transfer forms each dated October 11, 2021, the shareholders of BUA Sugar Refinery FZE and LASUCO Sugar Company Limited (subsidiaries) transferred all their shares to BUA Sugar Refinery Limited (now BUA Foods Plc) thereby making them wholly owned subsidiaries of the BUA Foods Plc.
