#20 per share dividend approved by Dangote Cement shareholders

Dangote Cement Plc shareholders have commended the company's management for an impressive performance in fiscal 2021 despite the economic challenges. They also approved the directors' proposed dividend of N20 per share for the year ended December 31, 2021, up from the N16 paid in the prior year.

These were among positions achieved at the 13th Annual General Meeting (AGM) in Lagos, where shareholders noted the company's efforts to reduce unclaimed dividends.

According to Vanguard, Dangote Cement had its highest pre-tax profit in 2021 at N538.4 billion.

The explanation reads in part: “The company recorded group volume of 29.3 Mta, an increase of 13.8 percent. Exceptional EBITDA of N684.6 billion was achieved, an increase of 43.2 percent due to strong cost control measures.”

The statement quoted the company's chairman, Aliko Dangote, as saying: "Over the last decade, Dangote Cement has experienced exponential growth in all areas."

According to him, the group volume is now almost 30 Mta, our capacity has tripled to 51.6 Mta and we export cement from five countries across Africa. “As the volatile global environment propels us into a new era of uncertainty, we are fortunate that the past two years have taught us resilience, adaptability and determination. These values are what we need to face unpredictable times in the future.”

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