BUA Cement Declares N94.82 Billion Final Dividend

BUA Cement Plc has announced a final dividend payment of N2.80 kobo per 50 kobo ordinary share for the financial year ended December 31, 2022.

Considering its outstanding shares of 33,864,354,060, the final dividend payout translates to N94.82 billion to be shared by the shareholders of the company.

In a filling signed by Hauwa Satomi, the Company Secretary at the Nigerian Exchange Limited (NGX) and obtained by BUSINESS METRICS, the company disclosed that this dividend payment will be subject to shareholders’ approval at the Annual General Meeting (AGM) and appropriate withholding tax.

The Company’s Annual General Meeting will be held at the Congress Hall of Transcorp Hilton Hotel Abuja, on 31st August, 2023 at 11:00AM.

According to the disclosure, shareholders are to ensure their names are registered in the Register of Members by the qualification date of August 11, 2023.

According to the company, another condition for the shareholders to be eligible for the dividend is to have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.

“On August 31, 2023, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 11th August, 2023, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts,” the statement read.

The company’s registrar is Africa Prudential Plc and the e-dividend mandate form can be downloaded or filled online on the registrar’s website.

Meanwhile, it further said that “Shareholders with dividend warrants and share certificates that have remained unclaimed, or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.”

BUA Cement Plc has 33,864,354,060 outstanding shares and a market capitalization of N3.351 trillion at the time of filing this report. The company’s shares opened trading on July 19 at N 98.95 per share and closes the session flat.

BUSINESS METRICS however notes that between the previous disclosure of final dividend payment in July 2022 and now, the market capitalisation of the company has risen by N950 billion even as the shares outstanding remained the same.