P
ProfRem
Guest
Shareholders of Dangote Cement on Wednesday lauded the board, management and staff of the company for the dividend payout of N144.8 billion, which translated to N8.50 kobo per share as against N8 per share paid in the corresponding period of 2015.
Speaking at the company’s annual general meeting (AGM) in Lagos, President of Amiable Shareholders Association of Nigeria, Festus Akano said the shareholders were pleased with Aliko Dangote and his team.
He said for the company to pay a robust dividend despite the economic recession, shows the management’s doggedness and the fighting entrepreneurial spirit.
While presenting the reports to the shareholders, Chairman of the company, Aliko Dangote said the company’s strategy in every country of operations was to be the leader on costs, quality and service.
“Looking back at the 2016 financial year, I am pleased to report that the volume of our cement sales increased by 25.0 percent to nearly 23.6Mt. Of this, almost 14.8Mt was sold in the Nigerian market. Revenues increased by 25.1 percent to ₦615.1 billion of which 68.3 percent was generated in Nigeria (excluding eliminations) and 31.7 percent from Pan-African operations.
“Our earnings before interest, depreciation and amortisation (EBITDA) decreased only slightly to ₦257.2 billion, with Pan-African operations contributing ₦26.5 billion, excluding central costs. Earnings per share increased by 4.5 percent to ₦11.34.”
Speaking at the company’s annual general meeting (AGM) in Lagos, President of Amiable Shareholders Association of Nigeria, Festus Akano said the shareholders were pleased with Aliko Dangote and his team.
He said for the company to pay a robust dividend despite the economic recession, shows the management’s doggedness and the fighting entrepreneurial spirit.
While presenting the reports to the shareholders, Chairman of the company, Aliko Dangote said the company’s strategy in every country of operations was to be the leader on costs, quality and service.
“Looking back at the 2016 financial year, I am pleased to report that the volume of our cement sales increased by 25.0 percent to nearly 23.6Mt. Of this, almost 14.8Mt was sold in the Nigerian market. Revenues increased by 25.1 percent to ₦615.1 billion of which 68.3 percent was generated in Nigeria (excluding eliminations) and 31.7 percent from Pan-African operations.
“Our earnings before interest, depreciation and amortisation (EBITDA) decreased only slightly to ₦257.2 billion, with Pan-African operations contributing ₦26.5 billion, excluding central costs. Earnings per share increased by 4.5 percent to ₦11.34.”