Dangote Cement to pay N20 final dividend amid N364.4bn profit

The Board of Directors of Dangote Cement Plc (DCP) met on February 26, 2022, resolved to approve DCP’s audited financial statements for the year ended December 31, 2021.

The Board of the largest cement maker also recommended a final dividend of N20 per share for the approval of the shareholders at the company’s next Annual General Meeting as against N16 in the 2020.

Dangote Cement Plc’s consolidated and separated statements of profit or loss for the year ended December 31, 2021 shows the group’s revenue rose to N1.383trillion in 2021 from N1.034trillion in 2020, up by 33.75percent.

Gross profit rose to N832.618billion from N596.226billion in 2020, up by 39.65percent. Profit Before Tax (PBT) increased to N538.366billion from N373.310billion in 2020, up by 44.21percent. The group’s Profit After Tax (PAT) rose to N364.439billion from a low of N276.068billion in 2020, up by 32.01percent.

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The principal activity of the Company and its subsidiaries (together referred to as the Group) is to operate plants for the preparation, manufacture and distribution of cement and related products.

At N273.50 per share as at Tuesday March 1, Dangote Cement Plc share price has risen this year by 6.4percent.

The company’s audited financial statements and the corporate actions notification have been submitted to the Nigerian Exchange Limited (NGX) and in accordance with the NGX Rules, DCP’s closed trading period ends 24 hours after the submissions. The Closed Trading Period is applicable to all parties that possess sensitive information that may affect the price of the securities of DCP.

The company’s total unclaimed dividends outstanding as at December 31, 2021 stood at N4.6 billion (2020: N4.0 billion).

On December 31, 2020, the Company embarked on a share buy-back programme, buying back 40,200,000 units of its shares at a total cost of N9.8 billion which included the par value of the shares and additional premium paid on it. At December 31, 2021, the Company held 40,200,000 (2020: 40,200,000) of its own shares.