Dangote Cement Plc shareholders unanimously approved a dividend of N20 per share to all shareholders for the fiscal year 2021 yesterday.
The amount paid represents a 25% increase over the N16 declared in the same period in 2020. Speaking at the company’s 13th annual general meeting yesterday in Lagos, the Founder of Independent Shareholders Association, Sir Sunny Nwosu, praised management for increasing shareholder value through improved dividends despite the harsh operating environment.
He expressed his satisfaction with the company’s current state of affairs, particularly its ability to maintain profitability, and urged management to consider awarding bonuses to shareholders.
Reviewing its performance, the Chairman, Aliko Dangote, said the company achieved its highest profit before tax in its history at N538.4 billion.
According to him, the company also recorded Group volumes of 29.3Mta, up 13.8 per cent. Exceptional EBITDA of N684.6 billion was achieved, up by 43.2 per cent owing to strong cost control measures.
“Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.
“As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability and grit. These values are what we need to face unpredictable times in the future.
“Dangote Cement remains the leading cement company in Africa, well-positioned for a positive and sustainable future. We are resolute in transforming Africa, while creating sustainable value for our stakeholders.”
Dangote said in January 2022, that the company completed the second tranche of its buy-back programme as it has now repurchased 0.98 per cent of its outstanding shares, saying the share buy-back programme reflects the company’s unwavering commitment to creating value and identifying opportunities to return cash to shareholders.
He also noted “We began operations in our new 3Mta Okpella plant in Edo state in 2021, where we are successfully ramping up production and have contributed to creating a new industrial hub.
“We are actively deploying our alternative fuel strategy across all countries of operations, to optimise energy efficiency, reduce reliance on fossil fuels and ultimately reduce CO2 emission. Whilst we focused our efforts on meeting the robust demand of our local market in Nigeria, at the expense of our export markets, we still made significant progress in our cement and clinker exports.
In 2021, we exported seven ships of clinker out of Nigeria and exported cement from five of our operations. Our vision is for West and Central Africa to be self-sufficient, while making the regional and continental free trade agreements a reality.”
He said “Our strategy in 2021 focused on energy transition, which is a crucial enabler of sustainable development and climate resilience on the continent. We have increased our focus on alternative fuels in our energy mix. We are actively investing in installing mechanical multi-fuel systems that can process diverse types of wastes.”
For Dangote Cement in 2022, Group Managing Director/Chief Executive Officer of Dangote Cement, Michel Puchercos said “Our goal to be the partner of choice for those transforming Africa, while creating sustainable value for our stakeholders remains firm and clear.
“Despite operating in a challenging and fast-moving environment, Dangote Cement consistently delivers superior profitability to the shareholders. The robust demand experienced across the continent despite the COVID-19 related challenges, confirm the powerful potential of these markets.”
THE GUARDIAN
