Dangote Cement to pay 25% higher dividend | Dailytrust

Dangote Cement to pay 25% higher dividend

Dangote cement
Dangote cement

Shareholders of Dangote Cement Plc have approved N20 per share for the year ended December 31, 2021, as against the N16 paid for 2022.

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.

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More so, shareholders of Dangote Sugar on Wednesday approved a dividend pay-out of N12.147bn for 2021, representing N1.00 per share.

Speaking at the Dangote Cement’s 13th Annual General Meeting (AGM) in Lagos, the shareholders commended the management for the impressive performance recorded.

Dangote Cement achieved its highest Profit Before Tax (PBT) at N538.4bn while recording 29.3 metric ton per annum (mt/a) volume, up 13.8%.

The Chairman, Aliko Dangote, said, “Over the last decade Dangote Cement has recorded exponential growth across all areas.”

On the outlook for Dangote Cement in 2022, Group Managing Director/Chief Executive Officer of the company, Michel Puchercos, said, “The robust demand experienced across the continent despite the COVID-19 related challenges confirm the powerful potential of these markets.”

Also at the Dangote Sugar Plc 16th AGM, Dangote commended the firm’s performance. “We furthered the implementation of process optimisation, cost savings, and product promotion strategies with the launch of our new brand identity and the pursuit of the Dangote Sugar Backward integration master plan,” he said.

Dangote Sugar recorded N276bn turnover, representing a 29% increase over N214bn in 2020; profit before tax of N34.021bn, profit after tax of N22.052bn.

The Group Managing Director/Chief Executive officer of Dangote Sugar, Mr Ravindra Singhvi said that “We remained ahead of the pack in implementation of the National Sugar backward Integration Development Master Plan.”

The shareholders commended the Company’s performance for the year under review.

 

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