New Telegraph

Shareholders laud Dangote over N272.6bn dividend

Shareholders in Dangote Cement Plc on Wednesday commended the management of the company for an impressive performance despite the economic challenges in the year under review. Unanimously, the shareholders approved N272.6 billion as dividend, translating to N16 per share for the year ended December 31, 2020.

The 16 per cent increase in the company’s revenue led to a 36 per cent increase in its earnings per share of N16.14 as against N11.29 in 2019. The shareholders, at the virtual 12th Annual General Meeting (AGM) held in Lagos, commended the management for the full disclosure provided for the year, share buyback process and the various donations made during COVID-19.

Speaking on behalf of the shareholders, the founder, Independent Shareholders Association of Nigeria, Sir Sunny Nwosu, commended the company for attaining a trillion-naira revenue growth, saying that the company was moving in the best way of corporate governance. He appealed to the company to prevail on its numerous distributors, who arbitrarily sell cement at very high costs as against the real factory price, thereby making so much profit for themselves.

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