BUA Cement Plc was incorporated as a limited liability company on 30 May 2014 and commenced business in August 2015. The Company was converted from a private limited liability company to a public limited liability company on 16 May 2019, as a prelude to a scheme of merger. The Company merged with the defunct Cement Company of Northern Nigeria Plc in a scheme of merger on 23 December 2019 and was listed on the Nigerian Stock Exchange on 9 January 2020.
The full year 2023 audited financial statements and accounts of BUA Cement have shown a revenue growth of 27.4 per cent to N460bn compared to N361bn in 2022.
The Board of Directors recommends for the approval of shareholders a payment of N2.00 dividend per 1 ordinary share of 50 kobo each, out of the profits declared in the financial year ended 31 December 2023 (2022: N2.80k). If approved, dividends paid to shareholders will be subject to the deduction of withholding tax at the appropriate rate at the time of payment.