BUA Foods to Pay Abdulsamad Rabiu N216.7 Billion in Record Dividend Payout
BUA Foods to Pay Abdulsamad Rabiu N216.7 Billion in Record Dividend Payout
Nigerian billionaire and founder of BUA Group, Abdulsamad Rabiu, is set to earn a record N216.7 billion in dividend income following shareholder approval at the fourth Annual General Meeting (AGM) of BUA Foods Plc.
The meeting, which held on Thursday at the Transcorp Hilton Hotel in Abuja, saw shareholders endorse a dividend of N13 per ordinary share for the financial year ending December 31, 2024. With Rabiu’s controlling stake of approximately 16.67 billion ordinary shares, the billionaire will be the single largest beneficiary of the payout.
The approval cements BUA Foods’ reputation as one of Africa’s most valuable consumer goods companies and highlights Rabiu’s commanding influence in Nigeria’s corporate landscape.
The dividend declaration also underscores the company’s resilience in an operating environment marked by currency volatility, inflationary pressures, and shifting consumer dynamics.
BUA Foods, alongside BUA Cement Plc, forms the backbone of Rabiu’s expansive business empire.
Both companies are listed on the Nigerian Exchange and are major contributors to the billionaire’s multibillion-dollar net worth.
Speaking at the AGM, management assured investors of continued value creation through strategic expansion, operational efficiency, and innovation in product offerings.
“Our commitment is not only to maintain market leadership but also to reward shareholders who have remained steadfast in their support of the company,” a company executive stated.
Industry watchers note that the payout further consolidates Rabiu’s standing among Nigeria’s wealthiest and most influential business leaders, placing him in direct competition with other industrial giants such as Aliko Dangote and Mike Adenuga.
Analysts also predict that the dividend windfall could boost Rabiu’s investment capacity across his conglomerate while reinforcing BUA Foods’ position as a consistent dividend-paying stock, attractive to institutional and retail investors alike.
With this development, BUA Foods has once again demonstrated its ability to generate substantial shareholder value despite economic headwinds, a move many see as strengthening investor confidence in Nigeria’s consumer goods sector.
