The Board of Directors of BUA Cement Plc has approved the payment of N94.8 billion as dividends to shareholders for the financial year ending December 2022.
This resolution was made during the seventh Annual General Meeting of BUA Cement Plc held recently.
Shareholders will receive a final dividend of N94.8 billion representing a total dividend of N2.80 kobo per share on the issued capital of 33,864,354,060 Ordinary Shares of 50 kobo each.
During the AGM, the Board also cancelled the unissued shares of 6,135,645,940 from the total existing shares of the Company.
The company also approved the re-election of the following Non-Executive Directors: Khairat Abdul Razaq–Gwadabe, Shehu Abubakar, and Finn Arnoldsen
The Board also elected Mr Ajibola Ajayi, Mr Kabiru Tambari, and Mr Oderinde Taiwo as the representatives of the Shareholders on the Statutory Audit Committee of the Company for the 2023 Financial year while Mr Kabiru Rabiu and Mr Shehu Abubakar were elected the Board representatives for the Audit Committee for the 2023 Financial year.
In its unaudited Q2 2023 financial results, BUA Cement Plc grew profit before tax by 26.52 percent year-on-year reaching N40.963 billion.
The cement company’s profit after tax was up 30.45 per cent YoY to N36.815 billion during the same period. As a result, the earnings per share for Q2 amounted to N1.09, representing 31.33 percent year-on-year growth.
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