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Abdul Samad Rabiu is set to receive more than N324 billion in gross dividends after BUA Cement posted a sharp rise in profit for the 2025 financial year.
The chairman of BUA Group, who directly and indirectly controls more than half of the cement maker, stands as the largest beneficiary of the company N10 per share final dividend.
From his direct shareholding alone, Rabiu is expected to receive about N189.75 billion. A further N134.6 billion will accrue to BUA Industries Limited, the holding company he controls.
The payout follows a dramatic improvement in earnings as BUA Cement net profit climbed to N356 billion in 2025 from N73.9 billion a year earlier.
Revenue rose 35 percent to N1.18 trillion, up from N876.5 billion in 2024, supported by stronger sales volumes and price adjustments amid sustained infrastructure activity and private sector construction demand.
Gross profit doubled to N604.2 billion as cost of sales remained largely stable at N575.3 billion. That performance lifted gross margin to about 51 percent, compared with 34 percent in the prior year.
Foreign exchange pressures also eased. In 2024, the net foreign exchange loss dropped a lot, from N92.1 billion to N9.7 billion. This made it easier for the bottom line to do well during a time of currency instability.
Operating profit rose from N144.3 billion to N504.6 billion, more than tripling. This was due to better cost control and higher pricing power.
The results have strengthened investor sentiment. BUA Cement shares climbed to a 52 week high of N219 on the Nigerian Exchange at the close of trading on Friday, marking a gain of about 22.7 percent since the start of the year.
The dividend distribution underscores the concentration of ownership within Nigeria cement sector and highlights the scale of cash generation now flowing to Rabiu business empire as industry conditions stabilise.
