Dividend boost for Dangote shareholders

Dangote Cement Plc announced it will pay a cash dividend of NGN19.37bn, or NGN1.25 per share, according to the company’s financial statement released on the Nigerian Stock Exchanged yesterday. The directors a recommended a bonus issue of one new share for every one already held.

Company turnover was noted at NGN235.70bn compared with NGN202.57bn a year earlier, indicating a 16% growth.

Profit before tax rose by 14.6% to NGN139.08bn from NGN121.28bn while retained profit surged from NGN105.32bn to NGN125.48bn.

Chairman of the Dangote Cemet Plc, Alhaji Aliko Dangote, had recently assured the shareholders of strong returns on their investments, stating that the significant contributions of the new line in Obajana and the inauguration of the 6Mta capacity Ibese Cement plant would positively affect the company's turnover and profitability.