BUA Foods fixes July 15 for AGM, proposes N28 dividend

By Damilare Adeleye

Nigeria’s leading food manufacturing company, BUA Foods Plc, has fixed its 5th Annual General Meeting (AGM) for July 15, 2026, as shareholders prepare to consider the company’s 2025 financial statements, dividend proposal, and the re-election of directors, among other matters.

The meeting will hold at the Transcorp Hilton Hotel in Abuja, according to a notice signed by the Company Secretary, Oluseye Alayande.

Part of the ordinary business slated for deliberation includes the presentation of the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, and audit committee.

Shareholders will also consider the declaration of a dividend recommended by the board.

“If the dividend of N28.00k recommended by the Directors is approved by members at the Annual General Meeting, the dividend will be paid less withholding tax on 15 July 2026,” the notice reads.

The company added that shareholders whose names appear in the register of members at the close of business before the qualification date, and who have completed the e-dividend mandate process, would receive direct payment into their bank accounts.

Shareholders will also consider the re-election of the Chairman of the Board, Abdul Samad Rabiu, and Oluyemisi Lowo-Adesola, both of whom are retiring by rotation and seeking re-election.

Other matters listed for consideration include authorizing directors to fix the auditors’ remuneration for the 2026 financial year, electing members of the statutory audit committee, disclosing managers’ remuneration, and approving remuneration for non-executive directors.

The company stated that the AGM would be streamed live to enable shareholders and stakeholders who are unable to attend physically to follow the proceedings online.

“The AGM will be streamed live. This will enable Shareholders and other Stakeholders who will not be attending physically to follow the proceedings,” the notice added.

BUA Foods further disclosed that its register of members and transfer books would be closed from June 5 to June 11, 2026, to update shareholder records.

“Securities Holders have the right to ask questions not only at the meeting but also in writing prior to the meeting,” the notice concluded.