Dangote pays 90% of net profits as dividend

Proshare

Thursday, June 21, 2018/08:19AM/Dangote Cement

 

Shareholders of Dangote Cement on Wednesday at the company’s 9th Annual General Meeting (AGM), held in Lagos were full of praise for the Board, Management and staff of the company after approving the dividend payout of N10.50 per 50k share, representing 90 per cent of net profit and an increase of 23.5 per cent on the N8.5 per share paid last year.

 

The shareholders described Dangote Cement as a very reliable company that has consistently demonstrated its love for the shareholders. They unanimously urged the regulators to give special award to Dangote Cement and its Management for keeping faith with the shareholders.

 

President of Progressives Shareholders Association of Nigeria, Boniface Okezie, said the shareholders were pleased with Aliko Dangote and his team. He said for the company to still pay a robust dividend despite the recession in the economy, which also affected their operations shows the doggedness and the fighting entrepreneurial spirit of the Management.

 

According to him: “We are very happy and pleased with this result. 2017 was very tough with the recession and fluctuation in the foreign exchange market which the Chairman also said affected their operations, but despite all these challenges, the company was still able to pay us a very good dividend, better than last year, and even gave us hope of better returns on our investments in the years to come. This is very commendable and it is only a company like Dangote Cement that can achieve this laudable feat.”

Umar Farouk, another shareholders’ association leader expressed optimism on the pan African plants, especially now that the Plants are contributing significantly to the turnover of the company.

 

“It is a statement of fact that we are lucky to be shareholders of this great company. If you see what our subsidiaries across Africa are contributing to the turnover, then you will understand what I am talking about. I am very happy and our members are upbeat for the future, knowing fully well that it will only get better.”

 
Related News
 

1.   DANGCEM Declares N72.12bn PAT in Q1 2018 Results,(SP:N248.0k)

2.   Dangote Cement Plc Q1 2018 - Improved Margins Underpin Earnings Growth

3. Dangote Cement Plc Appoints Cherie Blair and Mick Davies as Independent Non- Executive Directors

4.  Dangote Cement Plc Plans to Raise $833m Via Bonds to Fund Expansion

5. DANGCEM Declares N204.25 bn PAT in 2017 Audited Results,Proposes N10.50K per share Dividend

6.    ALERT: Dangote Cement Plc Trades 73.17% of Total Market Volume Today

READ MORE:
Related News
SCROLL TO TOP