Shareholders of Lafarge Africa Plc have approved a dividend of 100 kobo per share at its 62nd Annual General Meeting (AGM) held in Lagos.
The company showed strong growth in recurring earnings before interest and taxes (EBIT) which went up by 30.8 per cent as against the previous year’s result.
Emeritus Chairman of Independent Shareholders Association of Nigeria, Mr Sunny Nwosu, commended Lafarge for sustaining profit and dividend payment despite the harsh and challenging economy experienced in 2020 as a result of the pandemic.
Chairman of Lafarge, Prince Adebode Adefioye, said the 2020 financial result was achieved through the resilience of the brand, as well as the ability to deploy strategic stakeholder engagements and the collective desire to embrace a shared value approach to balance the purpose of achieving corporate performance.
He said, “Lafarge Africa is committed to building a more sustainable and inclusive economy that works for all. To reinforce our sustainability leadership, we have continued to integrate initiatives and policies to deliver superior stakeholder value through innovation, creativity, and continuous improvement in line with global best practices.”
The Chief Executive Officer of Lafarge, Mr Khaled El Dokani, stated that the audited financial statement for full year 2020 gave a true picture of the company’s financial performance during the period under review adding that the company focused on being in a “sold-out” situation where it could sell all that it produced.