Dangote Cement to pay N340bn dividends April 14

The management of Dangote Cement Plc is set to pay its shareholders N340 billion as dividends on Friday, April 14, 2023.

The payment will come after the cement giant’s Annual General Meeting (AGM) holding on April 13.

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.

The increment was due to higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market.

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The company’s revenue also increased by 21 per cent to N1.205 trillion as against N993 billion recorded for the preceding year.

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

In the notice of AGM signed by Dangote Cement’s Acting Company Secretary, Edward Imoedemhe, the ordinary business for the AGM will 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.

The company added that a list of unclaimed dividends is available on the company’s website at www.dangotecement.com and that shareholders with unclaimed share certificates or unclaimed dividends should address their claims to the Registrars, Coronation Registrars Ltd, at info@coronationregistrars.

The company also stated that it is giving notice to all shareholders to open bank accounts, stockbroking accounts and CSCS accounts for receiving dividend payments electronically.

The Star