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Nigerian Stocks: All The Dividend Declared On The Nigerian Stock Exchange In 2014

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A case for investing in dividend stocks

As audited accounts start to trickle in companies will propose dividend payments to their shareholders as recommended by their respective board of directors. It is also important to track these announcements to know who is eligible to collect dividend, when it will be approved and when it will be paid. Dividend payment also affect share prices

Legend

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Closure of Register – Only shareholders who own shares before this date will be paid dividend. If you sell before this date you won’t get dividend. If you sell after you will still get dividend but the new owner will not get.

Payment date – This is when dividend will be paid to you either via post (dividend warrants) or direct credit to your bank accounts (e-dividend).

S/N Company Dividend Bonus Closure AGM date Payment Date
1Niger Insurance3 koboNil 24th Dec – 2nd Jan 201414th January 201416th January 2014
2NEM Insurance6 koboNil 10th – 15th January, 201430th January 20144th February, 2014
3PZ Cussons (interim dividend)19.91 koboNil 3rd – 4th February 2014N/A12th February 2014
4Vitafoam Nigeria30 koboNil 17th – 21st February 20146th March 201410th March, 2014
5Neimeth PharmaceuticalsNil 1 for 512th February 201417th March 2014N/A
6PZ Cussons (Special Dividend)N1.30Nil 3rd – 4th March 13th March 201417th March 2014
7Forte OilN4.00Nil 10th – 12th March 201428th March 20144th April 2014
8Nigerian Breweries N4.50Nil 6th – 12th March 2014 14th May 201415th May 2014
9Mcnichols Consolidated3 koboNil 17th April 201417th July 201425th July 2014
10Africa Prudential Registrars35 koboNil 17th – 21st March 20143rd April 20144th April 2014
11Nestle Nigeria N24.00Nil 28th April 201412th May 201413th May 2014
12Transcorp 5 koboNil 10th – 14th March 201431st March 20141st April 2014
13Union Homes REITSN2.41 Nil 17th – 21st March 201427th March 20143rd April 2014
14GSK Nigeria N1.30Nil 16th – 22nd May 201411th June 201412th June 2014
15Zenith BankN1.75Nil 24th – 28th March 20142nd April 20144th April 2014
16GTBankN1.45Nil 28th March 201414th April 201414th April 2014
17Okomu N1.00Nil 13th – 16th May 201411th June 201416th June 2014
18Cadbury N1.30Nil 9th – 11th April 201413th May 201414th May 2014
19Airline Services & Logistics 12 koboNil 19th – 23rd May 201412th June 201413th June 2014
20Berger Paints70 koboNil 2nd – 6th June 201417th July, 201422nd July 2014
21Julius BergerN2.701 for 102nd – 6th June 201419th June 201421st June 2014
22CAPN1.00Nil 20th – 23rd May 201419th June 201420th June 2014
23Lafarge Cement WapcoN3.30Nil 28th April – 2nd May 20149th July, 201410th July 2014
24Paints & Coatings Manufacturers 8 koboNil 3rd – 4th April 201421st May 20147th July 2014
25UACNN1.75Nil5th – 9th May 201425th June 201426th June 2014
26CCNN70 koboNil 4th – 6th August 201414th August 201420th August 2014
27Total N9.00Nil 22nd – 28th April, 201413th June, 201416th June, 2014
28UBA 50 koboNil 14th April, 201425th April, 201428th April, 2014
29Trans Nationwide Express10 koboNil 21st – 25th July, 201431th July, 201414th August, 2014
30NAHCO30 koboNil 19th – 23rd May 201427th June 201427th June 2014
S/NCompanyDividendBonusClosure of RegisterAGM datePayment Date
31Unilever N1.25Nil 14th – 22nd April 201415th May 201416th May 2014
32UACN Property Dev. Co. Plc70 kobo1 for 4Dividend: 6th May 20144th June 20145th June 2014
Bonus: 13th May 2014
33Diamond Bank30 koboNil 17th – 18th April 201424th April 201428th April 2014
34Courteville Business Solutions Plc2 koboNil 13th May 201427th May 201411th June 2014
35Sterling Bank25 koboNil 14th – 18th April 201430th April 201430th April 2014
36ABC Transport6 kobo1 for 1011th – 15th August 201429th August 201412th Sept. 2014
37Mansard Insurance4 koboNil 11th April 201424th April 201424th April 2014
38MRS Oil74.96 koboNil 14th – 18th July 20147th August 20148th August 2014
39Mobil OilN6.00Nil 29th – 30th April 201428th May 20144th June 2014
40FCMB Group30 koboNil 19th – 23rd May, 20146th June, 20149th June, 2014
41UBA Capital25 koboNil 22nd – 25th April 201429th April 20146th May 2014
42Fidelity Bank14 koboNil 14th – 18th April 20142nd May 20142nd May 2014
43Custodian & Allied Plc11 koboNil 7th – 11th April 20148th May 20149th May 2014
44Ashaka Cement 42 koboNil 28th April – 2nd May 201417th June 201418th June, 2014
45Stanbic IBTC Holdings10 koboNil 17th April 201421st August, 201426th August 2014
46Learn Africa12 koboNil 12th – 16th May 20145th June 20146th June 2014
47Access Bank35 koboNil 17th April 201430th April 201430th April 2014
48Dangote CementN7.00 Nil 22nd – 25th April 20142nd May 20145th May 2014
49Infinity Trust Mortgage Bank3 koboNil 16th April 201413th May 201415th May 2014
50Computer Warehouse Group 8 koboNil 17th April 201419th June 201419th June 2014
51BOC Gases Nigeria 10 koboNil 27th – 30th May 201426th June 20147th July 2014
52Skye Bank30 koboNil 15th May 201428th May 201429th May 2013
53Greif Nigeria 60 koboNil 28th – 30th April 201414th May 201419th May 2014
54FBN HoldingsN1.10Nil 5th May 201422nd May 201426th May 2014
55NPF Microfinance Bank 10 koboNil 9th – 13th June 201426th June 201427th June 2014
56Capital Hotel5 koboNil 9th – 13th June 201424th June 20148th July, 2014
57Beta Glass38 koboNil 5th – 9th May 20148th July 20149th July 2014
58A.G. Leventis16 koboNil 5th – 9th May 201418th September 201419th September 2014
59Presco 10 koboNil 7th – 9th July 201422nd July 201424th July 2014
60Fidson 10 koboNil 7th – 11th July 201417th July 201418th July 2014
61Dangote Sugar60 koboNil 2nd May 201423rd May 201429th May 2014
62Japaul 2 koboNil 16th – 20th June 201427th June 20147th July 2014
63Aluminium Extrusion7.5 koboNil 28th July 20148th August 201411th August 2014
64National Salt Company of Nig 90 koboNil 10th – 11th June 201419th June 201422nd June 2014
65SCOA15 koboNil 17th – 20th June 20143rd July 201424th July 2014
66Triple Gee2 koboNil 25th September 201422nd – 24th Sept 201410th October 2014
67Redstar Express35 koboNil 28th – 31st July 201414th August 201425th August 2014
68Smart Products22.5 koboNil 3rd – 10th July 201430th July, 201411th August 2014
69Seven-Up Bottling Co. N2.50Nil 14th – 25th July 201424th September 201430th September 2014
70Continental Re-insurance11 koboNil 4th – 8th August 201412th August 201413th August 2014
71University Press35 koboNil 1st – 4th September 201425th September 201425th September 2014
72Niger Insurance 3.5 koboNil 21st – 25th July 201431st July 20144th August 2014
73International Breweries 32 koboNil 11th – 15th August 20142nd September 20143rd September 2014
74Stanbic IBTC HoldingsN1.10Nil 5th August 201421st August 201426th August 2014
75C & I Leasing4 koboNil 11th – 15th August 201414th August 201418th August 2014
76Honeywell Flour Mills17 koboNil 8th – 12th September 201416th September 201417th September 2014
77Custodian & Allied (Interim)6 koboNil 11th – 15th August 2014N/A12th September 2014
78Roads Nigeria 60 kobo1 for 419th – 25th Sept. 201425th September 20146th October 2014
79Flour Mills of Nigeria N2.101 for 1018th – 22nd August 201410th September 201415th September 2014
80Northern Nigeria Flour Mills40 koboNil 18th – 22nd August 20149th September 201418th September 2014
81Conoil N4.00Nil 1st – 5th September 201430th September 201413th October 2014
82Cutix12 koboNil 20th – 24th October 201431st October 201417th November 2014
83Royal Exchange5 koboNil 15th – 19th September, 201424th September, 201429th September ,2014
84PZ Cussons 61 koboNil 22nd – 26th September 20149th October 201413th October 2014
85Academy Press8 koboNil 30th Sept – 9th Oct 201416th October, 20143rd November, 2014
86Guaranty Trust Bank25 koboNil 4th September 2014N/A18th September 2014
87Access Bank (Interim)25 koboNil 9th September 2014N/A23rd September 2014
88Guinness Nigeria N3.20Nil 13th – 17th October 201413th November 201414th November 2014
89Oando 30 kobo Nil 2nd October 2014To be advised 17th November 2014
90Oando (Interim)70 kobo Nil 18th November 2014N/A 15th December 2014
91Daar Communications Nil 1 for 27th November 201420th November 2014N/A
92CAP (Interim)N1.50NIL 4th – 6th November 2014N/A19th November 2014
93Nigerian Breweries N1.25Nil 13th – 19th November 2014N/A20th November 2014
94NEM Insurance6 koboNil 18th - 21st November, 201427th November, 20144th December, 2014
95Nestle Nigeria (Interim)N10.00Nil 24th – 28th November 2014N/A8th December 2014
96Seplat Petroleum (Interim)N9.30Nil 7th November 2014N/A24th November 2014
97Total Nigeria (Interim)N2.00Nil1st – 5th December 2014N/A15th December 2014
98Nigeria Energy Sector FundN92.00Nil 1st December 2014N/A3rd December 2014
99Nigeria Enamelware 45 koboNil 8th – 12th December 201418th December 201419th December 2014
100SIM Capital Alliance Value FundN10.00Nil 22nd December 201423rd December 201430th December 2014

 

GTBank 728 x 90

Last updated November 6th, 2014

Source: NSE / Nairametrics Data

 

 

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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

32 Comments

32 Comments

  1. Sed

    June 7, 2014 at 7:48 am

    Very useful. Can we have the dividend yield as well? Maybe use the publication day market price.

    • Ugodre

      June 7, 2014 at 4:36 pm

      Ok…will look into that

  2. Sam,

    June 11, 2014 at 7:46 am

    Jst want to get some clearification, are dividend paid to shareholders as soon as bank and other organisations declare their quarterly profit after tax? Or they accumulated till d financial year ends, pls advice

    • Ugodre

      June 11, 2014 at 8:04 am

      Hi Sam, Dividend is paid annually or semi annually depending on the company’s dividend policy. However, before dividends are paid the results of the company must have been audited and dividend proposed approved by shareholders. Quarterly results are mostly unaudited as such dividends are not paid quarterly. Regards

  3. Joshua

    August 19, 2014 at 12:46 pm

    I need help concerning a question I seem not to have found an answer to. I know stock price reduce when demand is more than supply, but who determines the margin of reduction? Example: A stock price’s starting price for the day is N10.50 and closed at N9.0, yes it’s obvious more investors are selling their stocks but why did it reduce by N1.5 ? why not by N2? so who determines the exact margin. Thanks in anticipation of your response

    • Nairametrics

      August 19, 2014 at 1:07 pm

      Hi,the closing price is determined after taking the average of prices traded at the close of trading. The prices are also determined between the seller and buyer and may differ for different buyers and sellers on any given day. So for example Mr A & B wants to sell their shares in company XYZ. Mr A can sell to Mr C @N1 and Mr B sells to Mr D at N1.1. The closing price will be the average of the two if there are no later trades in between. Hope this helps.

  4. vitus

    September 13, 2014 at 7:27 pm

    dividend

  5. Omeiza

    October 8, 2014 at 9:56 am

    What is making the share price of UBA to be dropping

    • Nairametrics

      October 8, 2014 at 10:17 am

      Apart from the regulatory headwinds affecting the banking industry, the Bank’s results hasn’t been very impressive. The market typically punishes stocks when you have a combo of negative news and perceived poor results.

  6. Anonymous

    November 13, 2014 at 1:05 pm

    Quite interesting

  7. mr Geoffrey Garba

    December 10, 2014 at 6:06 pm

    Why are some companies in the Nigeria stock exchange not posting dividends to their shareholders as when due despite having all details of the shareholders? For example I was expecting my dividend from Fidelity Bank, and others, as well as bonuses from many companies. I thought all Registrars have all details of all shareholders of companies under their domain. It should be known that prompt payment of dividends and bonuses by stakeholders in the Nigeria stock Exchange will encourage the players towards the stimulation of the market and economic activities.

  8. Tucwebhost

    December 15, 2014 at 5:16 pm

    please i want to find out why hasn’t Oando pay the divided of 70kobo they said they where going to pay.

    • Nairametrics

      December 15, 2014 at 7:58 pm

      Their payment date is today December 15th. So warrants should start going out from today.

  9. big sho

    January 1, 2015 at 9:35 pm

    please i wish to know the best industry to invest in. thanks

  10. Olu

    January 9, 2015 at 5:13 pm

    Good afternoon, I’ll appreciate functioning contact information on FCMB’s registrar.

  11. Business-Meridian

    January 12, 2015 at 10:11 pm

    Great Resource for us starting to chart a business meridian.

    Can you also post information about dividend paying history of companies to enable us in charting our investments.

    Appreciate your good job.

    B-M

    • Grant Asomon-ero

      March 14, 2015 at 12:02 am

      I bought transcorp ordinary shares 2006 and up till now i have not recieved any share dividends..even when i went to their register with my share certificate to confirm i was told nothing has entered my accout..please i really need to know how to go about this.

      • Nairametrics

        March 14, 2015 at 12:16 am

        Get in touch with their Registrar. I believe it is Africa Prudential that is their Registrar. You should check their website here http://apregistrars.com/

  12. Gabriel

    February 9, 2015 at 3:18 pm

    pls Transcorp declared 50k dividend last yr but up till now l have not received mine.

  13. Nathaniel effiong

    February 28, 2015 at 8:15 am

    my complaints is that I bought a shares in dangote flour mill since 2007. since then I have received dividend once in 2008 pls can someone’s advice me how to about it?

  14. ALLI KOLAWOLE

    March 11, 2015 at 6:49 pm

    I never received my 2014 Zenith bank dividend (e-payment) up till now, pls what happened & when is the payment ?

  15. Chuks

    March 11, 2015 at 7:06 pm

    Pls, I want to inquire about this. For someone that bought a company shares in less than 4months before they declares giving out bonuses and dividends to their shareholders.
    Will that shareholder be eligible to the dividentds and bonuses?
    AND SECONDLY
    For someone that bought the shares in an online platform that enables one to trade real time.
    how will that person recieve the bonuses and dividends?

    • Nairametrics

      March 11, 2015 at 8:11 pm

      Dividend are paid to shareholders who are in the register before the date of closure. Typically, the announce a date for closure of register which is usually a day after the marked down day. For example, a company can announce it is proposing to pay dividend to shareholders who own shares as at March 11, 2015. It also announce closure of register for March 12. What it means is that if you did not sell your shares and still have it as at March 11, 2015 you will qualify for dividend payment. When you buy shares online you also get paid dividend the same way as someone who buys offline

  16. Shola

    March 13, 2015 at 4:20 am

    Please if someone buy zenith bank shares today(13/03/2015), would he be entitled to dividend since Zenith closing date for 2014FY dividend is 16th of March 2015.

    • Nairametrics

      March 13, 2015 at 7:59 am

      Yes, if you buy before March 14th to play safe

      • Shola

        March 13, 2015 at 9:28 am

        Thanks to Nairametrics… Would buy in bulk online this mawni

  17. sulaiman

    March 19, 2015 at 7:41 am

    Assuming I buy into a stock that will close 1st-7th of April, when can I sell the stock and still be entitled to its dividend? SECONDLY, what is the meaning of ex- dividend date?

    • Nairametrics

      March 19, 2015 at 9:06 am

      If you sell after closure. Ex dividend date is the date after the register is closed and the stock is marked down. Marking a stock down means dividend will be deducted from the latest share price on that day.

    • sulaiman

      March 19, 2015 at 3:45 pm

      Assuming a stock that close on 25-31 of march was bought, when can the stock be sold within the time framed and one will still be entitled to the dividend? SECONDLY, what is the meaning of ex-dividend date? Thank you.

  18. Akpere Rhoda

    November 16, 2015 at 10:17 am

    Please update the site. Since 2014? Haba.

  19. damola

    April 30, 2018 at 2:32 pm

    How can i get dividend payment history of companies from 2010-2018

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Corporate Press Releases

O3 Capital donates prepaid cards to Lagos State COVID-19 Response Team

O3 Cards align with the NCDC guidelines which emphasize less contact with cash and e-commerce and physical distancing.

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03 CAPITAL DONATES PREPAID CARDS TO LAGOS STATE COVID-19 RESPONSE TEAM

O3 Capital Nigeria Ltd has donated prepaid cards to Lagos state COVID-19 response team in appreciation of their dedication and sacrifice at the forefront of the COVID -19 Pandemic.

These cards would further augment the allowances they received from the Lagos State Government and cushion the socio-economic effect of the pandemic. Since Lagos State became the epicenter of the COVID 19 pandemic in Nigeria, the Lagos state COVID-19 response team has executed the aggressive response plan put together by the Lagos State Government under the leadership of His Excellency, Governor Babajide Sanwo-Olu.

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The Head of Corporate Communication of the company, Mrs. Temitayo Balogun, said the gesture is part of the company’s corporate social responsibility (CSR) during this pandemic.

She said that the response team has shown a level of expertise and patriotism most people do not possess hence the prepaid cards are a symbolic exhibition of O3 Capital expertise in their honor. O3 Cards align with the NCDC guidelines which emphasize less contact with cash and e-commerce and physical distancing.

She encourages other members of the private sector to contribute in whatever capacity to this fight against the Covid-19 pandemic as it is our collective effort as a people that would guarantee the eradication of the virus in the State and country as a whole.

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(READ MORE: Recalibrating Job creation within COVID-19 realities )

O3 Capital is the first non-bank credit and prepaid card issuer in Nigeria that offers various consumer loans using the credit card as its delivery channel. The cards, popularly known as O3 Cards, can be used on all ATMs, POS, and internet payment sites in Nigeria.

03 CAPITAL DONATES PREPAID CARDS TO LAGOS STATE COVID-19 RESPONSE TEAM

03 CAPITAL

The mission of O3 Capital is to ensure there is an 03 card in every wallet” so Nigerians can access funds 24/7/365 to meet everyday consumption requirements. The O3 Card allows you to purchase all forms of goods and services whenever and wherever you want, without ready cash.

 

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Corporate Press Releases

BUA Cement Plc Releases audited Financial Results for 2019; Revenue Increased by 47.5% to N175.52 billion

BUA Cement’s Profit before Tax (PBT) for the period rose 69.1% (y/y) from N39.17 billion in 2018 to N66.23 billion.

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BUA Cement

Lagos, Nigeria ~ BUA Cement Plc, Nigeria’s second-largest cement company, has recorded a 47.5% increase in revenues of N175.52 billion in its just-released Full-year results for the 2019 Financial Year on the Nigerian Stock Exchange. The company’s Profits also increased by 69.1% from N39.17 billion in 2018 to N66.24 billion in 2019. BUA Cement Plc in its current form is a business combination between CCNN Plc (Sokoto Cement) and BUA Cement Manufacturing Company’s Obu Cement Company which was completed in January 2020 and is currently listed on the Nigerian Stock Exchange (NSE), with a market capitalisation of N1.18 trillion ($3.3 billion), making it the third most capitalised company on the floor of the Exchange.

Speaking on the result, Managing Director of BUA Cement, Yusuf Binji said, “Through the adoption of a focused and disciplined approach, we continue to record strong revenue growth, even as we derive revenue and cost synergies from the merger across: pricing, scale, and operational efficiencies; all supported by a sustainable business model and a value-oriented strategy, which have translated to growing market acceptance and is reflective in our margins. This is Despite the complexities and uncertainty that trailed the economic environment in 2019. We delivered on important strategic priorities, such as: the commissioning of our 3mmtpa Line-2 at our Obu Plant in March 2019; the merger completion between CCNN Plc and Obu Cement Company Limited and commenced the listing process of BUA Cement Plc, the resultant entity of the merger on the floor of the Nigeria Stock Exchange (NSE), with the eventual delisting of CCNN Plc.

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READ MORE: BUA Cement offers solution to Nigeria’s building collapse problem

“Going forward, our focus is to further harness the full benefits of the merger while making further in-roads to “new markets” both locally and outside Nigeria. We understand that the local and indeed the global economy would experience more uncertainties, yet we expect continued strong showing across the business, spurred-on by continued recovery across the global economy”.

Obu Cement Plant 1

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In his comments Acting CFO, Chike Ajaero said, “In 2019 we reported a decline in Profit after Tax (PAT) from N64.07 billion in 2018 to N60.61 billion which was due to income tax credit of N26.76 billion in 2018 from the reversal of previous tax provision made on Obu Line 1 and deferred tax credit on securing approval for tax exemptions under pioneer status incentive in 2019. Net deferred tax charge of N5.15 billion was provided for in the current year and actual tax payable of N475.29 million. Obu Line-1 and Kalambaina Line -2 are both on pioneer status approved in February 2020 for 2-years (extension) and 3-years respectively. The computation of Earnings per Share (EPS) for 2018 has been re-stated, to reflect a business combination under common control, as at January 2018”.

READ ALSO: Deal: BUA Group makes major move, acquires P.W Nigeria

It should be noted that BUA Cement Plc is Nigeria’s second-largest cement producer and the largest producer in its North-West, South-South and South-East regions; with a combined installed capacity of 8 mmtpa and with plans underway to increase existing capacity to 11 mmtpa, through the commissioning of a new 3 mmtpa plant by the first half of 2021 in Sokoto State, Nigeria. BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State and is committed to quality – a differentiating attribute, driven by its people, innovation and technology; and positioned to solving Nigeria and Africa’s challenges while driving economic growth and development.

I. Financial Highlights

  • Revenue increases by 47.5% from N119.01 billion in 2018 to N175.52 billion in 2019
  • EBITDA rises 47.2% from N55.70 billion in 2018 to N81.99 billion in 2019
  • EBITDA margin flat at 47.0%, arising from entry into ‘new markets’
  • Operating margin (EBIT) is up 4.71% points from 36.0% in 2018 to 40.7% in 2019
  • Profit before Tax (PBT), up 69.1% from N39.17 billion in 2018 to N66.24 billion in 2019
  • Profit after Tax (PAT), down 5.40% from N64.07 billion in 2018 to N60.61 billion in 2019, due to a tax credit of N26.76 billion in 2018 from pioneer status incentive( 3 years) granted on Obu line-1 in 2019, reversing previous tax provision for the years

READ MORE: Kano block and concrete makers hail BUA Cement quality

II. Operational Highlights

  • Cement volume dispatched was up 53.2% from 2,940 kt in 2018 to 4,501 kt, as at 2019; arising from increased capacity
  • Merger between CCNN Plc and Obu Cement Company Limited, yielding revenue and cost synergies
  • Kalambaina plant, Sokoto State (Line 2) goes online for first full year in 2019; Obu Cement Plant, Edo State (Line 2) commissioned in March 2019
  • Return on Asset (ROA) up from 16.7% (2018) to 17.7% (2019)
  • Entry into new markets aided by a value-oriented strategy

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III. Key Developments

  • The appointment of Alhaji Abdulsamad Rabiu, CON as the Chairman of the Board, effective December 23, 2019
  • The Board appointed Engr. Yusuf Binji as managing director/chief executive officer on December 23, 2019
  • Mr. Finn Arnoldsen appointed as a non-executive director, effective April 9, 2019
  • Alhaji Shehu Abubakar and Senator Khairat Gwadabe appointed as independent non-executive directors, effective December 23, 2019

IV. Strategic Priorities

  • Completion of Kalambaina Line-3 (3mmtpa) by H1, 2021. Project execution on schedule
  •  Drive further cost and revenue synergies from merger
  •  Build on gains recorded from current footholds in “new markets”

V. Financial Review

Revenue: Revenue increased by 47.5% (y/y) to N175.52 billion in 2019 (2018; N119.01 billion), underpinned by two (2) drivers namely:

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  • The merger led to capacity increase(s), from 2mmtpa in 2018 to 8mmtpa in 2019.
  • Our differentiation strategy has translated to an increased appreciation of the ‘value’ imbued in the product offering. Hence, the growing market acceptance. Consequently, cement sales was up 47.5% to N175.52 billion.

Cost of Sales: Cost of sales was up by 57.6% (y/y) to N93.1 billion in 2019, resulting from increased production volumes. Moreover, energy cost rose 75.6% (y/y) from N20.67 billion to N36.29 billion from enhanced capacity, though energy per ton of cement produced increase by 14% (y/y); the result of slight increase in energy cost.

Operating expenses: Operating expenses recorded a 20.2% rise from N18.60 billion in 2018 to N22.36 billion in 2019, resulting from the following;

  • Administrative expenses was down 16.0% to N10.52 billion (2018; N12.52 billion) due to a 45.6% decline in management and technical support expenses to N1.90 billion in 2019 (2018; N3.49 billion).
  • Conversely, distribution and selling expenses increased by 94.8% (y/y) to N11.84 billion, supportive of higher sales volume from the route-to-new market strategy.

Net finance cost: Net finance cost was up 41.3% to N5.19 billion (2018; N3.67 billion) due to increased working capital requirement, which rose from N3.90 billion in 2018 to N21.36 billion in 2019, necessitated by capacity enhancement.

Profit before Tax and Profit after Tax: Profit before Tax (PBT) rose 69.1% (y/y) from N39.17 billion in 2018 to N66.23 billion; Profit after Tax (PAT) was down from N64.10 billion to N60.61 billion in 2019, due to deferred tax credit in 2018. However, approvals for the extension of pioneer status on Obu line-1 and Kalambaina line-2 were granted in February, 2020 for 2-years and 3-years respectively.

Cash and cash equivalent: Cash and cash equivalent balances rose from N2.71 billion in 2018 to N15.02 billion in 2019, arising from a 69.16% increase in net cash flow from operations to N26.48 billion (2018; N15.66 billion) along with a net borrowing of N16.8 billion.

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About BUA Cement Plc

BUA Cement Plc (Bloomberg; BUACEMENT:NL) is Nigeria’s second-largest cement producer and the largest producer in its North-West, South-South and South-East regions; with a combined installed capacity of 8 mmtpa and with plans underway to increase existing capacity to 11 mmtpa, through the commissioning of a new 3 mmtpa plant by the first half of 2021 in Sokoto State, Nigeria. BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State.

BUA Cement Plc is a business combination between CCNN Plc (Sokoto Cement) and BUA Cement Manufacturing Company’s Obu Cement Company. Currently listed on the Nigerian Stock Exchange (NSE), with a market capitalisation of N1.18 trillion ($3.3 billion), making it the third most capitalised company on the floor of the Exchange.

BUA Cement is committed to quality – a differentiating attribute, driven by its people, innovation, and technology; and positioned to solving Nigeria and Africa’s challenges while driving economic growth and development.

More information can be found here.


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Corporate Press Releases

MTN’s Investment In Infrastructure to Deliver Best Customer Experience

MTN’s 4G network currently covers approximately 40% of its coverage locations, which translates to about 65 million data customers.

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MTN's

MTN Nigeria has said it will prioritise the expansion of the 4G network with an estimated N600 billion on technical infrastructure over the next three years as it looks to increase 4G network across the country from the existing 40% coverage.

Speaking at the company’s first public Annual General Meeting which held in Lagos on Friday, 15th May 2020, Ferdi Moolman, CEO, MTN Nigeria said:

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“Due to the nature of our business, we are committed to innovating new technology and delivering the best customer experience which can be capital intensive, our target is to have coverage across the country and a minimum of 4G network service across all locations.

“Cash collateralized Letters of Credit, Forwards contracts, and favourable credit rating with major partners and vendors will make funding relatively easy for us, but we will also be cautious in our approach to limit foreign currency exposure.”

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Presently, the company’s 4G network covers approximately 40% of its coverage locations which translates to about 65 million data customers. A significant amount of investment would be made to not just extend the 4G network but to also cover more rural locations in Nigeria. The company expressed excitement on the possibilities that the transition to digital platforms presents to the company as growth in voice revenue is also expected to remain healthy.

“We closed the year with 132 cities covered by 4G and became the first mobile network operator in West Africa to demonstrate the capability of 5G technology. We are excited about its potential for our customers and the country’s national development plans.

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“We maintained our leadership position in network net promoter score (NPS) as we continue to invest to improve service quality and drive expansion and innovation,” Moolman said.

This investment in infrastructure will enable the company to accelerate its 4G network expansion, deepen population coverage, and support the Federal Government’s broadband initiatives.


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