BUA Foods shareholders re-elect Abdul Samad Rabiu as Chairman, approve ₦28 dividend per share
Shareholders of BUA Foods Plc re-elected Abdul Samad Rabiu as Chairman at the company's 5th Annual General Meeting held on July 15, 2026, at Transcorp Hilton Hotel, Abuja. The board also received approval for a final dividend of ₦28.00 per ordinary share for the 2025 financial year, according to a statement released July 17, 2026.
Mrs. Oluyemisi Lowo-Adesola was also re-elected by shareholders, with both directors having retired by rotation and sought re-appointment. Shareholders authorized the board to determine external auditors' remuneration for 2026 and approved managers' and non-executive directors' compensation for the same period. New audit committee representatives were elected: Musa Bichi, Eric Akinduro Akinnifesi, and Nwokocha Innocent Peters join board representatives Lowo-Adesola and Chimaobi Madukwe.
The approvals come amid strong financial performance—BUA Foods posted Q1 2026 profit before tax of ₦153.76 billion, a 12.74% increase from ₦136.39 billion in the corresponding 2025 period. This growth occurred despite an 11% revenue decline to ₦394.62 billion and absence of foreign exchange gains (compared to ₦486 million in Q1 2025). Lower operating and finance costs drove the profit improvement.
Dividends will be paid electronically to shareholders whose names appear on the register by September 15, 2026. For investors and business observers, this raises the question: With profitability growing despite revenue headwinds, does BUA Foods represent stability in Nigeria's manufacturing sector?