BUA Foods Plc has re-elected Abdul Samad Rabiu as its chairman during its 2025 Annual General Meeting (AGM) held in Lagos. Shareholders also approved a final dividend of N28 per share for the fiscal year ended December 31, 2025, marking a significant payout to investors.
Dividend Approval and Financial Performance
The N28 per share final dividend brings the total dividend for the 2025 financial year to N40 per share, including an interim dividend of N12 per share paid earlier. The total dividend payout amounts to approximately N72 billion, reflecting the company's strong financial performance. According to the company's financial statements, revenue grew by 35% to N1.2 trillion, while profit after tax increased by 28% to N180 billion.
Re-election of Board Members
Shareholders unanimously voted to re-elect Abdul Samad Rabiu as chairman, along with other board members including Managing Director Ayodele Abioye and Non-Executive Directors Uche Iwuanyanwu and Olusegun Ogunleye. The re-election was based on the board's recommendation, citing their contributions to the company's growth and stability.
Shareholder Reactions
Speaking at the AGM, a shareholder representative commended the board for the dividend increase, stating, "The N28 final dividend is a testament to the company's commitment to rewarding shareholders. We are pleased with the consistent growth in earnings and the strategic direction under Chairman Rabiu's leadership." Another shareholder highlighted the company's expansion into new product lines and markets as key drivers of value.
Outlook and Future Plans
Chairman Abdul Samad Rabiu expressed gratitude to shareholders for their continued support and outlined plans for the upcoming fiscal year. He emphasized investments in capacity expansion, particularly in the sugar and flour segments, to meet growing demand. The company also aims to enhance operational efficiency and explore export opportunities to boost revenue. Rabiu noted, "Our focus remains on delivering sustainable value to shareholders while contributing to Nigeria's food security."
