• Thursday, April 18, 2024
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BusinessDay

Dangote Cement grows 2023 revenue by 36% to N2.208trn

Dangote Cement eyes N100bn from series 13, 14 Commercial Paper issuance

…proposes final dividend of N30 per share from N455.58bn profit

…says total unclaimed dividends outstanding rises to N4.7bn

…Share price up 114.7% year-to-date

Dangote Cement Plc has released its annual report and financial statements for the full year (FY) ended December 31, 2023.

The largest cement market and most capitalised among the 155-member listed companies reported full-year group revenue of N2.208trillion (2022: N1.618trillion), representing an increase by 36 percent.

The group’s net profit increased by 19 percent to N456 billion (2022: N382 billion). The Group earnings per share increased by 19 percent to N26.47 (2022: N22.27).

The company’s profit before tax (PBT) increased to N553.1 billion in 2023, from N524 billion in 2022, while profit for the year rose to N455.58 billion from 2022 low of N382.3 billion.

The largest cement maker has proposed a final dividend of N30 per share, subject to the appropriate withholding tax and approval.

The N686.70 per share which the stock closed on February 29 represents 114.7 percent increase year-to-date (YtD).

The dividend will be paid to shareholders whose names appear in the Register of Members at the close of business on Monday, April 15, 2024.

By Monday, April 29, 2024, dividends will be paid electronically to shareholders whose names appear in the Register of Members as of Monday, April 15, 2024, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank account.

The cement company’s total unclaimed dividends outstanding as of December 31, 2023, increased to N4.7billion (2022: N4.4billion).

The list of unclaimed dividends is available on the Company’s website at www.dangotecement.com. The Company also, notes that some dividend warrants remain unclaimed.