• Thursday, March 28, 2024
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Dangote Cement emerges best performing stock on NGX

Dangote Cement emerges best performing stock on NGX

Dangote Cement plc has emerged the best performing stock in 2021 by the Nigeria Exchange Group (NGX).

During the 2022 Nigerian Investor Value Award (NIVA) organised by BusinessDay in collaboration with the Nigeria Exchange Group, Dangote Cement was named the best stock ahead of other cement companies.

The coveted award is meant for two classes of companies namely; the listed companies segment and the Next Bull segment.

Dangote Cement was adjudged the best performing stock of the listed companies in the industrial goods category, having produced stellar performance in creating value on the Nigeria Stock Exchange during the period under review on the basis of criteria such as share price, dividend payments, sustainability, brand value, market leadership, and business strategy against its peers.

In his address on the occasion, chief executive officer, Nigeria Exchange Limited, Temi Popoola, who was represented by the divisional head, capital market, Jude Emeka said the award by BusinessDay Media underlined Nigeria Exchange Group’s goal of promoting actionable and effective multi-stakeholder dialogue on issues central to a well-functioning financial system.

While acknowledging that the winner organisations were truly deserving of the honour, he clarified that the winners were selected from among active companies with strong demand by investors to have their shares.

“As a responsible entity, known for aligning with best global practices, we recognise the importance of corporate governance and effective board leadership in driving sustainability on the business front. That is why we choose to not only recognise listed companies who are blazing the trail in investor relations but those also contributing to building a sustainable socio-economic standard in governance, regulation and compliance,” he added.

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The Nigeria Exchange boss said “with the leveraging of investments in business innovation and its diversified range of products and services coupled with robust engagement, “we’re well on our way to achieving our aspiration to be Africa’s preferred exchange hub, especially given the number of advances that have been implemented recently, including the launch of the NGX Exchange Traded Derivatives Market which saw the listing of two Equity Index Futures Contracts, NGX30 Index Futures and the NGX Pension Index Futures.”

In his address of welcome, the publisher, of BusinessDay, Frank Aigbogun said the NIVA formerly known as the Top 25 CEOs Award recognises leaders of private and public companies who have created sustainable alpha-generating value for their shareholders through strategic priorities, operation efficiency, organisational values and marketing engagement activities.

He explained that COVID-19 was what most companies, including Nigerian businesses, never envisaged but the reality today is that the Russia-Ukraine crisis has again emphasised the urgent need for backward integration and value addition to the nation’s primary produce.

Aigbogun expressed happiness that the Nigeria capital market has remained strong in the mix of the global realignment that is going on consequent upon the Ukrainian crisis.

Obu Oliver, the group financial controller, Dangote Cement plc, who received the award thanked the organisers for the award and assured that the companies would not rest on its oars in sustaining the strategies that make the stock the best performing.