Don't Miss


Home   >   Business   >   Industries   >   Economy   >   Dangote Cement pays N65.8b dividend

Dangote Cement pays N65.8b dividend

By on April 7, 2011

DANGOTE Cement Plc (DCP), a member of the Dangote Group, has announced a total dividend payout of N65.84 billion in the financial year ended December 2010. This translates to N4.25 kobo per share.

The dividend comprises an interim dividend of N2 per share, which translated to N30.98 billion paid in the period ended September 2010 and final dividend of N2.25 per share or N34.86 billion announced for the financial year ended December 2010.

According to the results approved by the Council of the Nigerian Stock Exchange (NSE), the company posted a turnover of N202.565 billion, as against N189.6 billion recorded for the preceding year.

While the company’s profit before tax rose by 58.9 per cent to N101.33 billion from the preceding year’s N63.8 billion, profit after tax increased by 73.7 per cent to N106.6 billion from N61.4 billion in 2009.

President, Dangote Group, Alhaji Aliko Dangote, assured the shareholders of good returns on their investments, stating that the significant contributions of the new line in Obajana and commencement of production of six million metric tons in Ibeshe plant later this year, will positively affect the company’s turnover and, ultimately, returns on shareholders investments.

Special Adviser to the President Dangote Group, Joseph Makoju, speaking on the result said: “This impressive result for 2010 financial year when viewed against the background of the relatively stable environment of 2010 is not unexpected as the supply and cost of major input of cement manufacture such as natural gas, LPFO and diesel were relatively stable.”

source : The Nation