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Shareholders approve Dangote Cement’s N20 per share dividend for 2021

Shareholders of Dangote Cement Plc, yesterday, commended the management of the company for an impressive performance despite the economic challenges in year 2021. The shareholders unanimously, approved N20 per share for the year ended December 31, 2021 as against the N16 paid in the preceding year.

 

This represents a 25 per cent increase in dividend, compared to the 2020 dividend of N16.00 per share, reinforcing the company’s commitment to maximising shareholder value. The shareholders gave their approval at the company’s 13th Annual General Meeting (AGM) held in Lagos.

 

They commended the management for the impressive performance recorded in the year under review. They also applauded the company for its efforts in reducing unclaimed dividend of the company. Dangote Cement, in year 2021, achieved its highest profit before tax in its history at N538.4 billion.

 

Also, the company recorded Group volumes of 29.3Mta, up 13.8 per cent. Exceptional Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of N684.6 billion was achieved, up by 43.2 per cent, owing to strong cost control measures.

 

Chairman of the company, Aliko Dangote, said: “Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.

He said: “As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability and grit. These values are what we need to face unpredictable times in the future.

 

“Dangote Cement remains the leading cement company in Africa, wellpositioned for a positive and sustainable future. We are resolute in transforming Africa, while creating sustainable value for our stakeholders.”

 

Dangote said in January 2022, the company completed the second tranche of its buy-back programme as Dangote Cement has now repurchased 0.98 per cent of its outstanding shares, saying this share buy-back programme reflects the company’s unwavering commitment to creating value and identifying opportunities to return cash to shareholders.

 

He also noted that: “We began operations in our new 3Mta Okpella plant in Edo State in 2021, where we are successfully ramping up production and have contributed to creating a new industrial hub.

 

“We are actively deploying our alternative fuel strategy across all countries of operations, to optimise energy efficiency, reduce reliance on fossil fuels and ultimately reduce CO2 emission. Whilst we focused our efforts on meeting the robust demand of our local market in Nigeria, at the expense of our export markets, we still made significant progress in our cement and clinker exports.

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