Dangote cement
For growing traders’ worth on funding by dividend payout and adherence to corporate governance rules, shareholders of Dangote cement Plc, yesterday counseled the corporate’s board for its 2017 efficiency, as they approve a dividend of N10.50 per 50 kobo share for the 2017 monetary 12 months.
This dividend represents 90 per cent of net profit and 23.5 per cent rise when in comparison with N8.50 kobo per share declared within the earlier 12 months.
The shareholders, who spoke on the firm’s 2017 yearly basic assembly in held in Lagos Wednesday, additionally counseled the administration for the efficiency and environment friendly working of the corporate, amid harsh financial surroundings.
Specifically, the President of the Progressive Shareholders Association, Boniface Okezie expressed satisfaction with the state of affairs within the firm particularly for abiding by strict corporate governance rules and sustaining its profitability.
He nevertheless urged the board to do all the things inside its powers to offer bonus to shareholders within the subsequent monetary 12 months.
Another shareholders’ affiliation chief Dr. Umar Farouk, urged the regulators to adequately compensate the administration of the Dangote Cement with an award as it has constantly saved religion with its shareholders.
He expressed optimism on the pan-African vegetation, particularly now that the vegetation are contributing considerably to the turnover of the corporate.
“It is a assertion of undeniable fact that we're fortunate to be shareholders of this nice firm.
If you see what our subsidiaries throughout Africa are contributing to the turnover, then you'll perceive what I'm speaking about.
I'm very blissful and our members are upbeat for the long run, figuring out that it's going to solely get higher.”
The Chairman, Dangote Group, Aliko Dangote, whereas addressing shareholders mentioned the corporate made funding price N85.6 billion throughout the interval beneath evaluate together with the brand new facility opened within the Republic of Congo and Sierra Leone.
He defined that the whole manufacturing capability of the brand new services stood at 2.0 Mta, including that it has elevated the agency’s complete capability to 45.6Mta.
Furthermore, he mentioned the ability has elevated its visibility throughout sub-Saharan Africa from eight nations of operation to 10.
As acknowledged by him, the corporate recorded 31 per cent enhance in income to N805.6 billion whereas EBITDA rose by 50.9 per cent to N388.1 billion.
Dangote nevertheless attributed the 31 per cent enhance within the firm’s income of N805.6 billion to its pan-African operations’ development which additionally recorded a vital enhance in income from N195 billion to N258.four billion in 2017.
He mentioned: “Pan African operations increased volumes by 8.4 per cent, with Ethiopia, Senegal, Cameroon and South Africa all performing strongly and close to their operating capacity”.