Home BUSINESS Dangote Cement Proposes Mouthwatering N340 Billion Dividend For Shareholders

Dangote Cement Proposes Mouthwatering N340 Billion Dividend For Shareholders

 Management of Dangote Cement Plc has proposed N340 billion dividend for shareholders at the Annual General Meeting (AGM), scheduled for April 13 this year.

The company assured shareholders whose names are registered in its register of Members that the dividend would be paid, if approved, a day after the scheduled meeting.

In the notice of AGM, by Dangote Cement’s Acting Company Secretary, Edward Imoedemhe, the company said 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 said that it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically and 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 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.

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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.

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