BUA Cement Declares ₦2.05 Dividend for FY2024

BUA Cement Plc has declared a ₦2.05 dividend per share for the financial year ended December 31, 2024, representing a 94% payout ratio. According to the financial report presented by the Board of the Company this significant reward to shareholders follows a stellar financial year, with revenue soaring by 90.4% to ₦876.5 billion, up from ₦460 billion in 2023.

Profit before tax rose by 48.2% to ₦99.6 billion, compared to ₦67.2 billion in the previous year. Despite rising operational costs, the company achieved a 6.3% growth in profit after tax to ₦73.9 billion, up from ₦69.5 billion, underlining efficient cost management and robust demand.

In 2024, BUA Cement significantly enhanced its production footprint by commissioning two new production lines in Edo and Sokoto States, boosting total installed capacity from 11MMTPA to 17MMTPA. The company also initiated the construction of a greenfield 3MMTPA plant in Ososo, Edo State, reinforcing its long-term growth strategy.

To streamline operations and enhance logistics, BUA invested in additional haulage trucks and rolled out a digital payment and order platform. This move reduced customer wait times and improved overall service efficiency, positioning the company for stronger market engagement.

Commenting on the company’s performance, Managing Director/CEO Yusuf Binji highlighted four strategic pillars: production optimization, prudent debt management, market expansion, and digital transformation.

He stated, “BUA Cement stands at the threshold of unprecedented opportunity, strategically positioned to address Nigeria’s infrastructure deficit while delivering exceptional value to our shareholders.”

Chairman Abdul Samad Rabiu applauded shareholders for their continued trust and reaffirmed BUA’s dedication to rewarding loyalty through consistent dividend payments. “This reflects both our confidence in the business and our sustained financial performance,” he noted.

At the Annual General Meeting, shareholders unanimously re-elected three retiring directors: Shehu Abubakar, Finn Arnoldsen, and Khairat Abdulrazaq-Gwadabe, ensuring board continuity and governance stability.