Dangote Cement Shareholders endorse N20 per share dividend

Dangote Cement Plc shareholders praised the company’s management for outstanding performance in the fiscal year 2021 despite economic headwinds. They also approved the N20 per share dividend recommended by the Board of Directors for the fiscal year ending December 31, 2021, an increase from the N16 paid the previous year.

These were among the decisions made during the 13th Annual General Meeting (AGM) in Lagos, where shareholders praised the company’s efforts to reduce unclaimed dividends.

Dangote Cement announced in a statement that it generated its highest profit before tax of N538.4 billion in 2021.

According to the announcement, “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.”

The statement quoting the Chairman of the Company, Aliko Dangote, saying “Over the last decade, Dangote Cement has recorded exponential growth across all areas.”
According to him, Group volumes are currently approaching 30Mta, capacity has quadrupled to 51.6Mta, and we export cement from five African nations. “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.”