Dangote Cement Plc paid its shareholders N272.6 billion as dividend despite the economic challenges occasioned by the COVID-19 pandemic in the immediate past business year.
The shareholders approved N272.6 billion as dividend, translating to N16 per share for the year ended December 31, 2020. The 16 per cent increase in the company’s revenue led to a 36 per cent increase in its earnings per share of N16.14 as against N11.29 the previus year.
The shareholders at the virtual 12th Annual General Meeting (AGM) in Lagos commended the management for the full disclosure provided for the year, share buyback process and the various donations made at COVID-19 pandemic.
Speaking on behalf of shareholders, founder, Independent Shareholders Association of Nigeria, Sir Sunny Nwosu commended the company for attaining N1trillion revenue growth, saying that the company is moving in the best way of corporate governance.
Chairman, Dangote Cement Plc, Alhaji Aliko Dangote assured the shareholders of better returns always, noting that the company is doing everything possible to create wealth for its shareholders and other stakeholders. He further said despite the challenging year surrounding by COVID-19 pandemic, 2020 was a record year for us across board.
“Dangote Cement hit the N1 trillion mark in term of revenue. Group revenues were up 16 per cent compared to 2019. We record Group cement sales of 25.7 million tonnes (Mt) and revenues of N1.034 trillion. Most notably was our record high EBITDA of N478.1 billion, up 20.9 per cent compared to 2019…”
Dangote said that the board maintains the 2019 dividend of N16 per share, reinforcing its commitment to maximising shareholder value.
