By Seun Ibiyemi
BUA Foods Plc has approved a dividend payout of ₦13.00 per ordinary share for the financial year ended December 31, 2024, following the endorsement of major resolutions at its Fourth Annual General Meeting (AGM) held on September 11, 2025.
At the meeting, shareholders received the company’s audited financial statements alongside the reports of the directors, auditors, and the audit committee.
They also re-elected directors Kabiru Rabiu and Chimaobi Madukwe, who had retired by rotation.
The board was authorised to fix the remuneration of the company’s auditors for the 2025 financial year, while shareholders also ratified the disclosure of managerial pay and approved the remuneration of non-executive directors.
A new statutory audit committee was constituted, comprising shareholder representatives Musa Bichi, Eric Akinduro Akinnifesi, and Nwokocha Innocent Peters, as well as board nominees Oluyemisi Lowo Adesola and Chimaobi Madukwe.
Shareholders further granted a general mandate empowering the directors to enter into recurrent related-party transactions in the ordinary course of business, provided such dealings remain on normal commercial terms and comply with regulatory requirements.
In line with corporate governance practices, the company also disclosed that one of its directors, Finn Arnoldsen, has attained the age of 70.
With these resolutions, BUA Foods reaffirmed its commitment to rewarding investors while strengthening its governance and operational efficiency.
