BUA Foods Hits 52-week High, Market Value Rises to N8.26trn
BUA Foods Plc hit 52-week high in the equities market as investors as 151,746 volume exchanged hands. The soft trading volume pushed the stock price higher to N459 from N440 – following a significant increase in dividend.
According to data from the Nigerian Exchange, BUA Foods Plc ranked as the second most valuable brand listed in the local bourse in terms of market capitalisation.
Investors valued the company’s 18 billion shares outstanding at N8.272 trillion after 151746 units exchanged hands in the market on Tuesday.
BUA Foods Plc has enjoyed strong upside since it became listed company, but majority of the company’s shares rest with its founder.
The company offered to pay shareholders N13 as dividend, which was fully covered both earnings and cash flows.
The dividend BUA Foods offered shareholders translates to 70% payout ratio and 61% cash payout ratio. Analysts anticipate the company share price to stabilised around the current levels ahead of Q2 earnings release. #BUA Foods Hits 52-week High, Market Value Rises to N8.26trn#
