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By Chinwendu Obienyi
Shareholders of Dangote Cement Plc yesterday, commended the management of the company for an impressive performance despite the economic challenges in the year under review.
Unanimously, the shareholders approved N20 per share for the year ended December 31, 2021 as against the N16 paid in the preceding year. This represents a 25 per cent increase in dividend compared to the 2020 dividend of N16.00 per share, reinforcing the company’s commitment to maximising shareholder value.
The shareholders who gave their approval at the 13th Annual General Meeting (AGM) held in Lagos, commended the management for the impressive performance recorded in the year under review.
They also applauded the company for its efforts in reducing unclaimed dividend of the company.
Dangote Cement in the year under review achieved its highest profit before tax in its history at N538.4 billion. Also, the Company recorded Group volumes of 29.3Mta, up 13.8 per cent. Exceptional EBITDA of N684.6 billion was achieved, up by 43.2 per cent owing to strong cost control measures.
Speaking at the AGM, Chairman of the company, Aliko Dangote, revealed that over the last decade, Dangote Cement has recorded exponential growth across all areas.
According to him, “Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.
As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability and grit. These values are what we need to face unpredictable times in the future.
“Dangote Cement remains the leading cement company in Africa, well-positioned for a positive and sustainable future. We are resolute in transforming Africa, while creating sustainable value for our stakeholders,” he said.
