Home News BUA Meals Holds Inaugural Annual Long-established Meeting, Announces N63 billion Dividend for FY2021

BUA Meals Holds Inaugural Annual Long-established Meeting, Announces N63 billion Dividend for FY2021

by Good News
BUA Meals Holds Inaugural Annual Long-established Meeting, Announces N63 billion Dividend for FY2021

3.50k per 1 peculiar half of 50 Kobo grow to be once common for all shareholders on the Firm’s register on the shut of enterprise on 13 July 2022.

The 2021 efficiency positioned BUA Meals as a listed company with the top dividend payout in the Meals and Hasty-Shifting Consumer Items sector on the Nigeria Commerce Minute (NGX).

Restates a valid dedication to bridging meals security gaps and nourishing lives to originate price.

Abuja, Nigeria – 4 August 2022– BUA Meals Plc (“BUA Meals” or “the Firm”), one in every of Sub-Saharan Africa’s most purposeful firms in accordance with market capitalization and a number one manufacturer of excessive-quality Meals, held its 1st Annual Long-established Meeting in Abuja on the Transcorp Hilton Hotel.

The Firm declared a dividend with a full price of N63 billion for the fiscal one year 2021 following approvals by the shareholders translating to N3.50 per one peculiar half of 50 Kobo- discipline to the deduction of withholding tax- for all shareholders on the Firm’s register on the shut of enterprise on 13 July 2022. This grow to be once pushed by the determined development recorded in the financial one year ended 31 December 2021, making BUA Meals a listed company on the NGX, with the top dividend payout in Nigeria’s Meals and FMCG enterprise.

The period under review showed spectacular results across the Firm’s three income-producing divisions- Sugar, Flour and Pasta. Operating earnings grew by 56% to N79.9 billion, whereas Profit Sooner than Tax (PBT) increased by 63.96% to N77.5 billion. The complete income on the tip of the one year grow to be once N69.8 billion (+97% y-o-y). 

Fee of dividends will beginning on 4 August 2022, upon shareholders’ approval on the assembly.

Addressing shareholders on the assembly, the Chairman of BUA Meals, Abdulsamad Rabiu, talked about: “2021 grow to be once a pivotal one year in our corporate history. It charted a brand original path for us to fulfil our imaginative and prescient to meet Africa’s rising ask for meals by promoting meals security and nourishing lives. Our audacious decision to consolidate and restructure our enterprise reinforced our productiveness and improved our effectivity as a meals price chain company. 

Our enterprise has remained resilient no matter international economic challenges and performs a gigantic characteristic in the FMCG enterprise. This grow to be once evidenced by the determined financial results recorded for the fiscal one year ended 31 December 2021”.

Talking further on development ambitions, Rabiu talked about, “Our expansion plans hold positioned us to construct a more diversified income circulate in the years ahead, with a determined and demonstrable influence to originate price for the enterprise and shareholders. We are increasing our plant capacities across your entire enterprise and investing in a backward integration program for sugar with farmers in host communities. We notion to recommence our rice division by the tip of 2022 and suitable for eating oils in 2024 to further breeze income generation. Additionally, our ongoing investments in export infrastructure, supported by strategically located ultramodern vegetation, will improve our skill to encourage Africa and other markets”.

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“We can continue to put money into due route with a readability of reason for shareholders and construct a incompatibility by our sustainable enterprise model pushed by a dedicated team executing effectively-notion strategies for development and price introduction as we continue to lead with reason”.

Additionally commenting, the Managing Director BUA Meals, Engr. Ayodele Abioye talked about: “2021 grow to be once an exhilarating one year for us at BUA Meals. The restructuring of our enterprise improved our predicament as a number one participant producing and distributing excessive-quality, accessible, competitively priced and modern meals products. It reinforced our imaginative and prescient to lead confidently even as we construct bigger our footprint across West Africa and present stop-to-stop present chain effectivity whereas leveraging the strategic predicament of our ultramodern vegetation.”

“Our focal point is on using sustainable development from our solid portfolio to originate accurate funding returns for shareholders. This aligns with our notion to originate liquidity, toughen visibility, and construct bigger salvage admission to to capital for future development. We labored with a couple of of the categorical advisers in the enterprise to discontinue these milestones, and I thank them excited about their pork up”.

Additionally speaking, the National President of Starlite Shareholders Association of Nigeria, Mr Tunji Bamidele, who represented first price investors, commended the company on its great efficiency for the fiscal one year 2021. He added that no matter international security challenges, the company grew earnings from 39 billion in the outdated one year to 69 billion in 2021, indicating a solid dedication to assuaging meals security challenges.

About BUA Meals
BUA Meals Plc (NGX: BUAFOODS) is a number one meals enterprise with effectively-diversified and scalable operations producing sugar, flour, pasta, rice and suitable for eating oils. The Firm owns strategically located vegetation across Nigeria, apart from to a cordial alliance with local stakeholders in host communities. Additionally, BUA Meals is a resilient enterprise constructed on a solid impress proposition and is an operator that has a infamous standing for turning in excessive-quality products.

BUA Meals continues to put money into original abilities for atmosphere friendly meals production, innovatively increasing with strategic companions across the price chain. The Firm is additionally effectively positioned to leverage significant export potentials across West Africa and the increased African continent.

Headquartered and listed in Nigeria, BUA Meals is one in every of basically the most capitalized firms on the NGX Commerce and a number one user items firm by market price.

For more recordsdata, discuss over with https://www.buafoodsplc.com/overview/

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