BUA Foods doubles dividend to N28 per share as revenue hits N1.77trn

BUA Foods PLC has reported a 16% rise in full-year revenue and proposed more than doubling its dividend, in a performance that reflected strong demand for staple foods and a push to boost shareholder returns.

Revenue climbed to N1.77 trillion for the year ended Dec. 31, 2025, from N1.53 trillion a year earlier, the company said in a statement released Monday night announcing its audited results.

Growth was driven by sustained demand across its core product lines, including sugar, flour, pasta and rice, alongside continued expansion in scale and market reach.

The Board proposed a dividend of N28 per share, up 115% from N13 paid in 2024, translating to a total payout of N504 billion, subject to shareholder approval at its 2026 annual general meeting. The increase signals the company’s intent to return more cash to investors even as it continues to invest in operations.

Abdul Samad Rabiu , BUA Foods Chairman, said the results highlight the resilience of the group’s strategy. “Our 2025 performance reflects the strength of our growth strategy and our ability to consistently scale revenue in a dynamic operating environment. The significant increase in our proposed dividend to N28 per share underscores our commitment to delivering enhanced value to our shareholders while continuing to invest in the future of the business.”

Total assets rose 27% to N1.39 trillion, reflecting continued capital deployment across its production footprint and supply chain. The company said its financial position remained solid, supported by operational efficiencies, cost optimisation and improved end-to-end logistics.

Ayodele Musibau Abioye, Managing Director, said the company is focused on sustaining growth through expansion and efficiency gains. “Our focus remains on driving sustainable revenue growth through capacity expansion, market penetration, and improved end-to-end supply chain. The strong demand across our product categories reinforces our strategic direction, and we are well-positioned to build on this momentum.”

While profitability remained robust, the company attributed performance largely to top-line growth, supported by streamlined operations and supply chain improvements. The results reflect broader consumption trends in Africa’s most populous nation, where demand for affordable staple foods has remained resilient despite inflationary pressures.

BUA Foods, which listed in 2021 following a consolidation of food businesses under BUA Group, has continued to expand its footprint across Nigeria, with multiple production facilities supplying essential food products to millions of consumers. Its portfolio spans sugar refining, flour milling, pasta production and rice processing.

The company said it remains positioned to sustain growth, citing strong fundamentals and ongoing investment across its value chain. It also highlighted its role in supporting food security and economic development in Nigeria and across West Africa, as it scales output to meet rising demand.