Lafarge Africa Plc, has declared a dividend of N32 billion following the approval of the company’s shareholders at the 64th Annual General Meeting of the Company held in Lagos on Friday.
The dividend declared amidst a challenging operating year translates to a dividend payout of 200 kobo per share to the shareholders.
In a statement, the company said in the year ended 2022 it increased its revenue by 27% from N293 billion recorded in 2021 to N373 billion as Operating Profit improved by 29.3% on the back of net sales improvement to close at N84.2 billion.
The chairman of the company’s board, Prince Adebode Adefioye, stated that Lafarge Africa Plc, had once again demonstrated business resilience.
“The domestic cement market remained strong with sustained demand, despite a slow-down experienced in the second half of the year due to pre-election activities, gas supply shortages and flooding in some parts of the country.”
“Overall, net sales increased by 27% compared to the prior year, to close at N373.2 billion. Similarly, Operating Profit improved by 29.3% on the back of net sales improvement to close at N84.2 billion,” he said.
The Country CEO, Lafarge Africa Plc., Mr. Khaled El Dokani, said: “Paying dividends is part of our company’s obligations to our shareholders and we do our best to delight our shareholders.
“2023 is showing good promise, the market is recovering and we look forward to an impressive and strong year.”
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