Employees of Nigeria’s second-largest publicly-listed manufacturing firm, BUA Cement Plc, have been given a share bonus worth N2 billion.
The gifted shares were from the pool of shares of the company’s Chairman, Abdulsamad Rabiu, as a recognition of the efforts of the employees to keep the company afloat through the pandemic.
This was shared in a press release obtained by BizWatch Nigeria.
Despite disruptions created by the pandemic, the statement noted, BUA Cement “remained one of the most profitable companies” in the country.
Its profit after tax (PAT) stood at N72.3 billion, representing an increase of 19.4 percent than the corresponding period in 2019.
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Revenue saw a jump to N209.4 billion in 2020 from the N175.5 billion recorded in the 2019 full year.
Speaking on his largesse, Rabiu said, “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.”
