Dangote Cement to pay investors about N340bn dividend April 14: Management

L-R: NASCON Allied Industry Plc, Managing Director, Thabo Mabe, NASCON Best Truck Driver, Star Prize Winner, Kabiru Bawa, NASCON Allied Industry Plc, Head of Control & Tracking, Abdullahi Dangote,  NASCON Allied Industry Plc, Executive Director Commercial, Fatima Aliko Dangote, Head HR/ Admin, NASCON, Murtala Zubair,  Chief Finance Officer, NASCON Allied Industry Plc, Aderemi Saka, At the NASCON Truck Drivers Performance Awards and Town Hall Meeting Held March 22, 2023, in Apapa Lagos    Photo: Dangote Group

Dangote Cement to pay investors about N340bn dividend April 14

*Dangote Cement Plc holds Annual General Meeting April 13, 2023, and notifies all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically

Isola Moses | ConsumerConnect

The Management of Dangote Cement Plc, a pan-African cement manufacturer, have disclosed as the shareholders at the Annual General Meeting (AGM) slated for April 13, 2023, approve the proposal, the investors whose names are in the Company’s Register of Members at the close of business March 30 will be immediately paid the sum of about N340 billion a day after the meeting.

ConsumerConnect reports the company, in the notice of AGM, Edward Imoedemhe, Acting Company Secretary of Dangote Cement, signed and published in the newspapers, revealed that a list of unclaimed dividends is available on the Company’s Web site at: www.dangotecement.com, and that shareholders with unclaimed share certificates or unclaimed dividends should address their claims to the Registrars, Coronation Registrars Limited, at info@coronationregistrars.

The company also stated it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically and also that pursuant to the provision of Section 187 of CAMA 2020, the treasury shares are not entitled to dividend and voting rights.

Dangote Cement further disclosed in the published Notice that, its ordinary business for the day would 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, said the company.

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 percent to N1,205 billion as against N993 billion recorded for the preceding year.

The group’s earnings per share increased by 5 percent to N22.27 billion as against the preceding year’s N22.42 billion, the company’s earnings per share increased by 6 percent to N23.87 billion as against N22.42 recorded for the preceding year.