Dangote Cement proposes final dividend of N16 per share
... despite muted full year 2019 earnings
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.