BUA Cement announces changes to AGM, dividend payment dates, others

Board of BUA Cement Plc has announced changes to its Annual General Meeting (AGM) date, as well as to other events in its financial calendar recommended for the 2020 accounting year.

Earlier, the cement maker proposed to pay N2.067 per share to shareholders on Friday, July 23, 2021, but a new date shifts the event backwards.

In a notice, the board also changed the qualification date, the closure of register date and the Annual General Meeting (AGM) date but left the recommended dividend and the AGM venue intact.

BUA Cement said the qualification date, which was earlier fixed for Friday, July 9, 2021, will now be Friday, June 18, 2021.

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In addition, the closure date, which was formerly between Monday, July 12 and Friday, July 16, has been moved backwards to Monday, June 21 to Friday, June 25, 2021.

In the same vein, the AGM date is now Thursday, July 8, 2021, and not Thursday, July 22, 2021, earlier announced, while the dividend payment date has been moved to Thursday, July 8 from Friday, July 23.

However, the venue of the yearly shareholders’ gathering remains Transcorp Hilton, Abuja at 11:00 a.m just as the cash reward remains unchanged at N2.067.

In the 2020 financial year, BUA Cement recorded a 19.1 per cent jump in profit before tax (PBT) to N78.9 billion, while the profit after tax (PAT) rose by 19.4 per cent to N72.3 billion, with the earnings per share (EPS) up by 19.6 per cent to N2.14 from N1.79 in 2019.

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Also in the year, the Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 18.0 per cent to N96.8 billion from N82 billion in the preceding year, while the EBITDA margin resilient stood at 46.2 per cent.

According to its financial statements, the revenue generated by the company stood at N209.4 billion compared with the N175.5 billion generated in 2019.

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