BUA Foods Plc has re-elected Abdul Samad Rabiu as chairman and approved a final dividend of N28 per share, according to a report by Nairametrics.
The board resolution signals continued confidence in the company's cash generation capabilities despite the challenging macroeconomic environment in Nigeria.
The dividend approval adds to the capital return narrative for the food producer.
Earlier reports indicated that BUA Foods was seeking shareholder approval for a total dividend payment of N504 billion, a substantial sum that underscores the firm's liquidity position.
The N28 final dividend likely forms part of this broader distribution plan, offering investors a tangible return on equity.
Rabiu's re-election as chairman provides leadership continuity for the group.