BUA Cement Chairman, Abdul Samad Rabiu, Gifts N2bn Share Bonus to Employees


Thursday, July 01, 2021 / 06:50 PM / BUA / Header Image Credit: BUA


Proshare Nigeria Pvt. Ltd.

Abdul Samad Rabiu, largest shareholder and Chairman of Nigeria's second-largest publicly listed manufacturing company, BUA Cement Plc, has announced a share bonus gift, from his pool of shares, for employees of the company worth almost two billion Naira in recognition of their effort to keep the company profitable despite the pandemic and predictions of a tough year. It should be noted that despite the pandemic, BUA Cement remained one of the most profitable companies in Nigeria declaring a Profit After Tax of N72.3billion representing a 19.4% increase over the corresponding period in 2019.


This was announced by the company in a statement and details released in a filing on the NGX. According to the office of the Chairman, Abdul Samad Rabiu said that it was important to recognize the effort of key staff who worked tirelessly despite the 2020 pandemic to keep the company on a strong footing even as the company was better placed to stay profitable for the foreseeable future. "As we head into another year of record profits, this share bonus for our employees is only the right thing to do. By doing so, our core employees are better placed to benefit from BUA Cement's future successes which they continue to help deliver", Rabiu said.


It should be noted that despite the pandemic and attendant economic slowdown, BUA Cement Plc declared a 19.3percent increase in revenues to N209.4billion in 2020 from N175.5 billion, as at FY2019. The company also declared Profits After Tax of N72.3billion representing a 19.4% increase over the corresponding period in 2019.

Kindly share and stay connected with us on our platforms HERE

You can also subscribe to our NEWSLETTER  

Proshare Nigeria Pvt. Ltd.


Related News

1.   FMDQ Exchange Welcomes BUA Cement Plc's N115.00bn Series 1 Bond in the Nigerian DCM

2.  BUA Cement Q1 2021 Result: Earnings Leap as Debt Numbers Spring Upwards

3.  BUA Signs Polypropylene Contract with Lumus Technology

4.  BUA Cement Dissociates Self from Purported Increase in Ex-Factory Prices of Cement

5.  BUA Refinery: More is Better

6.  NSE Lists BUA Cement Plc Series 1 Bonds

7.   $300m BUA Lafiagi Sugar Refinery to be Commissioned in 2022

8.   BUA Founder, Abdul Samad Rabiu Donates N200m to Sokoto State University

9.   BUA Cement Plc Bags Okpella Recognition Award

10.  BUA Cement FY2020 Unaudited Results: Significant Growth In Earnings and Debt Size Amidst A Pandemic

11.   BUA donates 3 Emergency COVID-19 ambulances, 100,000 Facemasks to Yobe

12.  BUA Cement Plc Successfully Completes Its N115bn Series 1, Corporate Bond Issue

13. BUA to Construct 3 Cement Plants of 9mmtpa in Sokoto, Edo and Adamawa

14. BUA Cement Plc Bond Issuance Now Open

15. BUA Cement 9Months 2020 Results: Resilient Performance In A Pandemic

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.


Related News