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Home Business News

Abdulsamad Rabiu set to pocket over ₦850 million as dividends

Onome Ohwovoriole by Onome Ohwovoriole
April 5, 2018
in Business News, Company News
Billionaire Abdulsamad Rabiu net worth skyrockets to $8.6 billion

Chairman of BUA Group, Abdul Samad Rabiu

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Chairman/Chief Executive Officer of the BUA Group Abdulsamad Rabiu is set to pocket over ₦800 million as dividends from Cement Company of Northern Nigeria (CCNN).

CCNN (also known as Sokoto cement) is proposing a final dividend of ₦1.25 per share for the year ended December 2017, its highest in the last 5 years. The fantastic results are largely due to a 46% increase in cement prices.

Rabiu has an indirect holding of 691,359,467 shares through Damnaz Cement company limited and BUA International Limited. This equates to a 50.72% stake in the firm. He will thus earn about  ₦864 million as dividends.

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Cement Company of Northern Nigeria Plc (also known as Sokoto Cement) was incorporated as a limited liability company on the 15th August 1962 and commenced business operation in 1967. The Company was listed on the Nigerian Stock Exchange on the 4th October 1993. The BUA group took a majority stake in the firm in 2010.

BUA International Limited was established in 1988 as a trading company to undertake importation of iron & steel, importation of rice. The group has since expanded into Manufacturing, Port Management,  Oil Milling, Oil & Gas, Iron & Steel, Shipping & Real Estate.


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Tags: Abdulsamad RabiuBUA group
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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