BUA cement reports N96.99bn revenue in Q1
BUA Cement Plc on Friday reported N96.99billion revenue in unaudited result and accounts for the period ended March 31, 2022 (Q1), an increase of 58.5 per cent from N61.19billion reported in unaudited result and accounts for the period ended March 31, 2021.
The company on the Nigerian Exchange Limited (NGX) announced 71per cent increase in profit before tax to N42.35billion in Q1 2022 from N24.77billion reported in Q1 2021.
The cement manufacturing company reported N33.14billion profit in Q1 2022 from N22.37billion in Q1 2021, an increase of 48.2 per cent.
The growth in profits drive BUA Cement’s Earnings Per Share to N0.98 in Q1 2022 from N0.66 reported in Q1 2021.
BUA cement had announced a final dividend payment of N2.60 kobo per 50 kobo ordinary share for the financial year ended 31 December 2021.
The dividend payment will be subject to shareholders’ approval at the Annual General Meeting (AGM) and appropriate withholding tax.
According to the disclosure filed with NGX, shareholders are to ensure their names are registered in the Register of Members by the qualification date of July 8, 2022.
On Thursday, July 21, 2022, the dividend which amounts to N88.05 billion will be disbursed electronically to ordinary shareholders whose names appear on the Register of Members as at Friday, July 8th 2022, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
BUA Cement has 33,864,354,060 outstanding shares.
BUA Cement had released its audited 2021 financial results for the period ended 31 December 2021, reporting a profit of N90 billion, representing a 24.51per cent growth year on year. Revenue of N257.33 billion was reported in the full-year period compared to N209.44 billion in the same period of 2020.
Earnings per share was recorded as N2.66 kobo against N2.14 kobo recorded in the corresponding period of 2020.
