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2011 Earnings: Dangote Cement Records Strong Growth, Proposes Dividend and Bonus

By Afolabi Ogunde on April 5, 2012

Dangote Cement released its 2011 audited financial statements yesterday and the growth showed significant improvement over its 2010 results.

Turnover was N 235.9 billion, up 16% from N 202 billion in 2010.

Profit before tax was N 118 billion, up 18% from N 100 billion in 2010.

Net income was N 125.9 billion, up 19% from N 105 billion in 2010.

The company, however, significantly increased its investment in fixed assets by 39% to N 433.9 billion from N 310 billion in 2010.

Its cash balances also improved by 42% to N12.7 billion from N 8.9 billion in 2010.

The company proposes to reward its shareholders with a dividend of N 1.25 and bonus shares of 1 for every 10 shares held.

The qualification date is 11^th May, whilst payment date is 1^st of June.

The Annual General Meeting will come up on the 24^th of May at the Civic Center in Lagos.