Tag: BUA Cement Plc

The Board of Directors of BUA Cement Plc has scheduled to meet on Thursday, 21st of October 2021, to consider amongst other matters, the unaudited financial statements for the third quarter of the year ended September 30, 2021.

This is according to a notice signed by the company’s secretary, Ahmed Aliyu, and filed with the Nigerian Exchange Limited (NGX).

In compliance with the post listing requirements of the Nigerian Exchange Limited for listed Companies, BUA Cement Plc also announced that it has commenced a closed period for trading in its shares since October 1st, 2021. The closed period will last until 24 hours after the financial results have been released to the NGX and made public.

Accordingly, no Director, Manager and other related and interested parties privileged to have sensitive information, which may materially affect the price of the securities of the Company, and persons connected to them may directly or indirectly deal in the shares of the Company

For more information about the disclosure, click HERE.

An Independent Non-Executive Director in BUA Cement Plc, Mr. Shehu Abubakar, has purchased additional 1 million units of the firm’s shares worth N74.25 million.

This is according to a notification signed by the firm’s secretary, Ahmed Aliyu and sent to the Nigerian Exchange Group Limited, as seen by Nairametrics.

The disclosure revealed that the transaction took place on the 21st of May, 2021 at Lagos, with the Director purchasing an additional 1 million units of the firm’s share at N74.25 per share. This put the total consideration for the shares purchased by the Independent Non-Executive Director at N74, 250,000.

It is pertinent to note that the disclosure is in line with the statutory requirements pre-specified by the Exchange and needed to entrench transparency and confidence in the system. Trade by insiders, particularly purchases, often demonstrates confidence in the financial performance of the companies that they run.

BUA Cement Plc closed trading today 12th of July, 2021 with a share price of N71.

The Board of Directors of BUA Cement Plc has amended the timeline for the payment of its FY 2020 final dividend, from an initial proposed date of 23rd of July to 8th of July, 2021.

This is according to a recent notice sent to the Nigerian Exchange Group Plc (NGX) and captioned: ‘’Revised Corporation Actions Announcement,’’ as seen by Nairametrics. Key findings from the recent notice revealed that;

• The proposed amount of N2.067 per share remained the same in both notifications.
• The qualification date was however postponed from 9th June as contained in an earlier notification by the firm, to 18th of June, 2021.
• The Company’s Annual General Meeting was rescheduled to 8th of July as against an initial date of 22nd of July, 2021.
• The register of shareholders will now be closed between 21st of June-25th of June 2021, compared to an initial schedule of 12th of July-16th of July, 2021.

Sequel to this, a total sum of  about N70 billion has been earmarked as final dividend to be paid to  the shareholders of the company who currently hold the 33,864,354,060 fully paid ordinary shares of the company.

What you should know:

• BUA Cement Plc had earlier reported a profit after tax of N72.3 billion in FY 2020.
• The manufacturing giant had earlier issued a notice to shareholders dated 25th of March 2021, where it proposed a FY 2020 final dividend of N2.067 per share. In the notice, the firm stated that the proposed sum if ratified will be disbursed to qualified shareholders’, whose names appear in the Register of Members as at close of business on 9th of July, 2021.

For more information about the recent disclosure, click HERE.

BUA Cement Plc held its FY 2020 results presentation to investors and analysts. Below are the facts to the figures;

• The cement company attained 60% capacity utilization, dispatching over 5.1mmt volume of cement in 2020.
• The company closed with a market capitalization of N2.6trillion as at December 2020.
• It also emerged as the largest cement producer in the North-West, South-South and South-East regions of the country.
• Profit before and after-tax rose by 19.1% and 19.4% to N78.9 billion and N72.3 billion respectively.
• EBITDA increased by 18% YoY to N96.8 billion as at FY 2020.
• The cement company issued a total of N115 billion corporate bonds, the largest in the history of the Nigerian Debt Capital Market.
• The company also revealed that it is currently expanding output capacity from 11mmtpa in 2021 to 20 mmtpa with the construction of new lines at Adamawa, Edo and Sokoto states.

For more information about the investors’ presentation, click HERE.