BUA Cements 2019 operating profits surge 67%, declares N1.75 dividend

BUA Cement released its 2019 results for combined operations across its major cement plants in Nigeria showing a surge in revenues and operating profits.

Revenues rose 47 percent to N175.5 billion for 2019, compared to N119 billion in the previous year 2018.

Meanwhile operating profits rose 67 percent to N71.4 billion, compared to N42.8 billion in the previous period.

BUA declared a final dividend of N1.75 to be paid on October 23, 2020. This means the firm will pay out a total of N59.25 billion as dividends, equivalent to a payout ratio of 98 percent.