Dangote Cement shareholders have approved a N20 dividend payout

TNC Reporter

TNC Reporter

Dangote Cement Plc shareholders unanimously approved a dividend of N20 per share for all investors in the firm for the fiscal year 2021.

The amount paid is a 25% increase over the N16 reported in the same period in 2020. Sir Sunny Nwosu, the Founder of Independent Shareholders Association, spoke at the company’s 13th annual general meeting in Lagos yesterday, praising the management for enhancing shareholder value through enhanced dividend despite the difficult operating environment.

He expressed his delight with the company’s current condition of affairs, particularly its capacity to maintain profitability, and urged management to consider awarding bonuses to shareholders.

Aliko Dangote, the company’s chairman, said the company’s earnings before tax was N538.4 billion, the biggest in its history.

According to him, the company’s Group volumes increased by 13.8 percent to 29.3 million tonnes. Due to robust cost management initiatives, an exceptional EBITDA of N684.6 billion was achieved, up by 43.2 percent.

“Dangote Cement has had exponential growth in all areas during the last decade.” According to him, group volumes are now approaching 30 million tonnes per annum, our capacity has tripled to 51.6 million tonnes per annum, and we export cement from five African nations.

“We are lucky that the last two years have taught us resilience, adaptation, and grit as the turbulent global environment propels us into a new era of uncertainties. These are the values we’ll need to get through the uncertain times ahead.

“Dangote Cement remains Africa’s leading cement company, with a bright and sustainable future ahead of it.” We are committed to improving Africa while also providing long-term benefit to our stakeholders.”

In January 2022, Dangote announced that it had completed the second tranche of its share buy-back program, repurchasing 0.98 percent of its outstanding shares. The company said the share buy-back program reflects the company’s unwavering commitment to creating value and identifying opportunities to return cash to shareholders.

“In 2021, we commenced operations in our new 3Mta Okpella factory in Edo state, where we are successfully ramping up production and contributing to the creation of a new industrial cluster,” he added.

“We are actively implementing our alternative fuel plan across all of our operating countries to improve energy efficiency, reduce reliance on fossil fuels, and cut CO2 emissions.” We made great progress in our cement and clinker exports while focusing our efforts on meeting the robust demand of our local market in Nigeria at the expense of our export markets.

We shipped seven ships of clinker from Nigeria in 2021, and five of our facilities exported cement. Our goal is to make West and Central Africa self-sufficient while also implementing regional and continental free trade agreements.”

“In 2021, our strategy focuses on energy transition, which is a critical enabler of sustainable development and climate resilience on the continent,” he explained. In our energy mix, we’ve expanded our emphasis on alternative fuels. We’re investing heavily in mechanical multi-fuel systems that can handle a wide range of waste types.”

“Our ambition to be the partner of choice for those transforming Africa, while producing sustainable value for our stakeholders remains steadfast and unambiguous,” said Michel Puchercos, Group Managing Director/Chief Executive Officer of Dangote Cement in 2022.

“Dangote Cement regularly produces exceptional profitability to shareholders despite operating in a tough and fast-paced industry.” Despite the COVID-19-related issues, substantial demand has been seen across the continent, indicating that these markets have a lot of promise.”

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