Dangote Cement Plc has proposed final dividend of N16 per share for the period ended December 31, 2019. The full year revenue of the largest cement maker came in lower in 2019 at N891.671billion against N901.213billion in 2018, representing a decline of 1.06percent.
Profit before tax (PBT) of N250.479billion in 2019 as against N300.806billion in 2018 represents 16.73percent decline.
The group’s after tax profit for the full year 2019 period printed at N200.521billion from a high of N390.325billion in 2018, representing 48.63percent drop.
The proposed final dividend which is subject to the appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business on May 25, 2020.
The register of shareholders will be closed on May 26, 2020. Stock investors on the Nigerian Bourse failed to price-in this dividend as the share price remained at N170. Earnings Per Share (EPS) decreased to N11.79 from a high of N22.83 in 2018, down by 48.36percent.
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Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.
