An extremely new dimension of leadership for the industrialist. Yes, Abdul Samad Rabiu, the Chairman of BUA Cement Plc, has announced a share bonus gift, from his pool of shares, for employees of the company worth almost two billion Naira for their hardwork. And they really work hard when you look at the financials of this company. They hit Profit After Tax of N72.3billion in 2020, representing a 19.4% increase over the corresponding period in 2019. Well done Mr Rabiu.
According to the office of the Chairman, Abdul Samad Rabiu said that it was important to recognize the effort of key staff who worked tirelessly despite the 2020 pandemic to keep the company on a strong footing even as the company was better placed to stay profitable for the foreseeable future. “As we head into another year of record profits, this share bonus for our employees is only the right thing to do. By doing so, our core employees are better placed to benefit from BUA Cement’s future successes which they continue to help deliver,” Rabiu said.
It should be noted that despite the pandemic and attendant economic slowdown, BUA Cement Plc declared a 19.3percent increase in revenues to N209.4billion in 2020 from N175.5 billion, as at FY2019. The company also declared Profits After Tax of N72.3billion representing a 19.4% increase over the corresponding period in 2019. (from company press release)
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.