Photo: Dangote Group

Dangote Cement is best Performing Stock –Nigerian Exchange

*Dangote Cement leads the pack in the Listed Companies best performing stock for recording stellar performance in creating value on the Nigerian Stock Exchange

Gbenga Kayode | ConsumerConnect

Dangote Cement Plc, Africa’s largest Cement manufacturer, has emerged the ‘Best Performing Stock of the Year 2021 by the Nigeria Exchange Group (NGX).

ConsumerConnect reports the Dangote Cement prides as the most capitalised company on the Nigerian Stock Exchange as it was named the best stock ahead of BUA Cement Plc and CAP Plc, during the 2022 Nigerian Investor Value Award (NIVA).

Businessday organised the event in collaboration with the Nigeria Exchange Group (NGX).

Dangote Cement in a statement Tuesday, May 17, 2022, said that the coveted award meant for two classes of companies namely, the listed companies segment and the Next Bull segment with Dangote Cement leading the pack in the Listed Companies best performing stock, in the Industrial Goods category having recorded stellar performance in creating value on the Nigeria Stock Exchange.

The company noted it attained the feat on the basis of set criteria, such as share price, dividend payments, sustainability, brand value, market leadership and business strategy against its peers during the period under review.

In his address on the occasion, Mr. Temi Popoola, Chief Executive Officer (CEO), Nigeria Exchange Limited, represented by Mr. Jude Emeka, Divisional Head, Capital Market, said the award by the Businessday Media Limited underlined Nigeria Exchange Group’s goal of promoting actionable and effective multi-stakeholder dialogue on issues central to a well-functioning financial system.

While acknowledging that the winner organisations are worthy and truly deserving the honour, Popoola clarified that the winners were selected from among companies that are active and the investors have expressed strong demand to own their shares.

The CEO also stated: “As a responsible entity, known for aligning with best global practices, we recognise the importance of corporate governance and effective Board leadership in driving sustainability on the business front.

“That is why we choose to not only recognise listed companies who are blazing the trail in investors relations, but those also contributing to building a sustainable socio-economic standard in governance, regulation and compliance.”

He further said that the leveraging of investments in business innovation and its diversified range of products and services coupled with robust engagement.

“We’re well on our way to achieving our aspiration to be Africa’s preferred exchange hub, especially given the number of advances that have been implemented recently, including the launch of the NGX Exchange Traded Derivates Market which saw the listing of two Equity Index Futures Contracts, NGX30 Index Futures and the NGX Pension Index Futures,” Popoola stated.

He assured that the NGX remained resolute in its commitment to the provision of a scalable and enterprising platform for issuers and investors to meet their financial objectives irrespective of the prevailing conditions.

He further said, “we will continue to consolidate on the advances by focusing on key initiatives aimed at creating growing the capital market for the benefit of all key stakeholders.”

In his address of welcome, Mr. Frank Aigbogun, Publisher of Businessday, also said the NIVA formerly known as the Top 25 CEOs Award recognises leaders of private and public companies who have created sustainable alpha-generating value for their shareholders through strategic priorities, operation efficiency, organisational values and marketing engagement activities.

Aigbogun explained that COVID-19 was what most companies, including Nigerian businesses never envisaged but the reality today is that Russian-Ukraine crisis has again emphasised the urgent need for backward integration and value addition to the nation’s primary produce.

The Publisher further expressed happiness that the Nigerian capital market has remained strong in the mix of the ongoing global realignment in regard to the Ukrainian crisis.

Mr. Obu Oliver, Group Financial Controller at Dangote Cement Plc, who received the award thanked the organisers for the award and assured that the companies would not rest on its oars in sustaining the strategies that make the stock the best performing.

Kindly Share This Story