Follow Us on Google
Shareholders of Dangote Cement Plc on Wednesday commended the management of the Company for an impressive performance despite the economic challenges in the 2020 financial year.
The shareholders had approved N272.6 billion as dividend, translating to N16 per share for the year ended December 31, 2020. The 16 per cent increase in Company’s revenue led to a 36 per cent increase in its earnings per share of N16.14 as against N11.29 in 2019.
The shareholders at the virtual 12th Annual General Meeting(AGM) held in Lagos, commended the management for the full disclosure provided for the year, share buyback process and the various donations made at COVID-19pandemic.
Speaking on behalf of shareholders, the founder, Independent Shareholders Association ofNigeria, Sir Sunny Nwosu, commended the management for attaining a trillion-naira revenue growth, saying that the Company is moving in the best way of corporate governance.
Other News
He appealed on the organisation to prevail on its numerous distributors who arbitrarily sell cement at very higher costs as against the real ex-factory price, thereby making so much profit for themselves.
Another shareholder, Mr Nona Awoh, applauded the board for the consistency in dividend payout, urging the it to consider payment of dividend twice a year.
Speaking to shareholders, Chairman of Dangote Cement Plc, 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 caused by the 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 rose 16 per cent compared to 2019. We recorded Group cement sales of 25.7 million tonnes (Mt) and revenues of N1.034 trillion.
