BUA Foods, a prominent player in Nigeria's fast-moving consumer goods sector, has announced a final dividend of N13.00 per ordinary share of 50 kobo each for its shareholders. This declaration reflects the company's strong financial performance and commitment to delivering value to its investors.
The approved dividend represents a significant increase compared to the previous year's payout, underscoring BUA Foods' impressive growth trajectory. The company's financial statements reveal a 109% surge in revenue, driven by substantial growth in product lines such as bakery flour and sugar. This robust performance has enabled the company to enhance shareholder returns, with the total dividend payout amounting to approximately $143.6 million.
Abdul Samad Rabiu, the founder and chairman of BUA Group, stands to receive a substantial portion of this dividend, reflecting his significant shareholding in the company. This payout not only highlights the company's profitability but also its dedication to rewarding its investors.
Industry analysts have lauded BUA Foods for its strategic initiatives and operational efficiency, which have contributed to its impressive financial results. The company's focus on expanding its product offerings and improving distribution channels has positioned it favorably in the competitive Nigerian market.
As BUA Foods continues to build on this momentum, stakeholders remain optimistic about its future prospects. The increased dividend payout serves as a testament to the company's financial health and its commitment to delivering value to shareholders.