Abdul Samad Rabiu, chairman of BUA Cement Plc, has received N189.74 billion in dividend income from his direct personal stake in the company, following shareholder approval of financial rewards for the year ended December 31, 2025.
Nigeria’s second-richest man directly holds 18.974 billion units, or 56.03%, of BUA Cement Plc’s 33.864 billion shares outstanding.
BUA Cement paid the final dividend of N10 per ordinary share on May 21.
An additional N134.6 billion accrued to BUA Industries Limited, the holding company he controls, bringing the total dividend flow to Rabiu’s business empire to more than N324 billion underscoring the concentration of ownership and cash generation within Nigeria’s cement industry.
The payout follows a dramatic earnings recovery at the cement maker. Net profit rose to N356.0 billion in 2025 from N73.9 billion a year earlier.
Revenue from contracts with customers increased 35 percent to N1.18 trillion from N876.5 billion, reflecting stronger volumes and price adjustments in a year marked by infrastructure spending and private real estate demand.
The cement maker’s gross profit doubled to N604.2 billion, as the cost of sales remained largely flat at N575.3 billion, compared with N576.2 billion in 2024, widening the gross margin to about 51 per cent from 34 per cent previously — a sign that earlier cost pressures from energy and imported inputs have moderated.
A sharp reduction in foreign-exchange losses provided further lift, with net FX loss narrowing to N9.7 billion from N92.1 billion the prior year easing the drag that had weighed heavily on earnings during the peak of currency volatility. Operating profit more than tripled to N504.6 billion from N144.3 billion.
At the company’s 10th Annual General Meeting in Abuja, Abdul Samad Rabiu said the results reflected disciplined execution and strategic resilience in a difficult macroeconomic climate. He added that cement prices would moderate when production and logistics costs ease, amid improving foreign exchange stability and declining input pressures.
As part of his commitment to workers’ welfare, Rabiu gifted about N30 billion to 510 long-serving employees in what shareholders described as unprecedented in Nigeria’s corporate history.
Five employees became instant billionaires with a gift of N1 billion each, while several others received as much as N500 million.
Investors have already taken note, with BUA Cement shares climbing to a 52-week high of N219 on the Nigerian Exchange a gain of 22.7 per cent since the start of the year
Administrator and Writer
