Dangote Cement to pay about N340bn dividend in April

Photo shows L-R: NASCON Allied Industry Plc, Managing Director, Thabo Mabe; NASCON Best Truck Driver, star prize winner, Kabiru Bawa; NASCON Allied Industry Plc, Head of Control & Tracking, Abdullahi Dangote; NASCON Allied Industry Plc, Executive Director Commercial, Fatima Aliko Dangote; Head HR/Admin, NASCON, Murtala Zubair; Chief Finance Officer, NASCON Allied Industry Plc, Aderemi Saka At the NASCON Truck Drivers Performance Awards and Town Hall Meeting in Apapa Lagos on 22nd march 2023

Management of the pan-African cement manufacturer, Dangote Cement Plc, has revealed that once the shareholders at the AGM slated for April 13, 2023, approve the proposal, the shareholders whose names are registered in the company's register of members at the close of business on 30 March 2023, will be immediately be paid the sum of about N340 billion a day after the meeting.

In the notice of AGM published in the newspapers and signed by Dangote Cement’s acting Company Secretary, Edward Imoedemhe, the company revealed that a list of unclaimed dividends is available on the company's website at www.dangotecement.com and that shareholders with unclaimed share certificates or unclaimed dividends should address their claims to the Registrars, Coronation Registrars Ltd, at info@coronationregistrars.com

The company also stated that it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically and also that pursuant to the provision of Section 187 of CAMA 2020, the treasury shares are not entitled to dividend and voting rights.

The Cement company disclosed in the published Notice that, its ordinary business for the day will include: laying the Audited Financial Statements for the Year Ended 31 December 2022 together with the Reports of the Directors, Auditors and the Audit Committee thereon; declare a dividend; elect/re-elect Directors; authorise the Directors to fix the remuneration of the Auditors for the 2023 financial year; disclose the remuneration of Managers of the Company and also elect shareholders' representatives of the Statutory Audit Committee. The AGM will also consider and if thought fit, fix the remuneration of the Directors.

In the financial statements of the organisation for 2022, the gross earnings for the Group increased to N1.6 trillion from the N1.4 trillion recorded in the preceding year due to the higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The company’s revenue also increased by 21 per cent to N1,205 billion as against N993 billion recorded for the preceding year.

While the group’s earnings per share increased by 5 per cent to N22.27 billion as against the preceding year’s N22.42 billion, the company’s earnings per share increased by 6 per cent to N23.87 billion as against N22.42 recorded for the preceding year, a press release from the corporate head office of Dangote Group, stated

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