Dangote Subsidiary, NASCON Declares 70 Kobo Dividend in 2011 Earnings
The National Salt Company of Nigeria, a subsidiary of Dangote Group has released its 2011 audited financial statements. The company recorded an 8.8% increase in turnover, as sales shot up to N 9.6 billion at against N 8.8 billion it made in 2010.
Profit before tax was up to N 3.1 billion at the end of the year, an appreciation of 51% over the N 2 billion it recorded in 2010.
The company banked a profit after tax of N2.1 billion, up 31% from the N 1.6 billion it did in 2010.
The company’s management has proposed a dividend of 70 kobo for shareholders.
Dangote recently disclosed that he will be selling the food companies in the group to focus on more INnrastructure related businesses including a 2,000 Megawatt Independent Power Plant and a $ 1 billion deep sea port.
The company will hold its annual general meeting at the Civic Centre on the 31st of May.
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