Dangote promises better returns as cement company declares N272.6 billion as dividend

Shareholders of Dangote Cement Plc has lauded the management of the company for an good performance despite the economic challenges in the immediate past business year.
The shareholders of the foremost company approved N272.6 billion as dividend,  which is  N16 per share for the year ended December 31, 2020.
The 16 per cent  increase shows that  the company’s revenue led to a 36 per cent increase in its earnings per share of N16.14 as against N11.29 the previus year.
The shareholders held the virtual 12th Annual General Meeting (AGM) in Lagos recently.
They gave kudos to the management for the full disclosure provided for the year, share  and the various donations made as regards COVID-19 pandemic.
Reacting  on behalf of shareholders, founder, Independent Shareholders Association of Nigeria, Sir Sunny Nwosu applauded the company for attaining N1trillion revenue growth,
Speaking, Chairman, Dangote Cement Plc, Alhaji Aliko Dangote assured the shareholders of better returns always,
He assured that the company is trying it’s best to  to create wealth for its shareholders and other stakeholders.
“Dangote Cement hit the N1 trillion mark in term of revenue. Group revenues were up 16 per cent compared to 2019. We record Group cement sales of 25.7 million tonnes (Mt) and revenues of N1.034 trillion. Most notably was our record high EBITDA of N478.1 billion, up 20.9 per cent compared to 2019…”
Acccording to him,  the board maintains the 2019 dividend of N16 per share, reinforcing its commitment to increasing shareholder value.
He said, “In 2020, we commissioned our Apapa and Onne export terminals in Nigeria and commenced clinker exports to West and Central Africa. The vision for our exporter strategy is to make West and Central Africa cement and clinker self-sufficient, with Nigeria as the main supplier and exporter. We also remain focused on meeting the demand in Nigeria and as such, we increased our capacity by three metric tonnes (MT) on Obajana and we commissioned our gas-fired power plant in Tanzania.
“Our Nigerian domestic operations sold 15.6Mt, up 14.3 per cent year-on-year, growing ahead the market. This strong volume growth was enhanced by our successful innovative national consumer promotion ‘Bag of Goodies- Season 2’, lower rains in the Q3 compared to the previous year and the low interest rate environment driving strong demand for real estate assets and supporting the construction sector.
“Pan-Africa volumes were up by 4.4 per cent to 10.0Mt despite the various lock-downs and restrictions in 2020. The Pan-African region achieved a record high EBITDA of N71.3 billion, up 49.0 per cent, notably supported by strong performance in Ethiopia and Senegal.”
Speaking about 2021, Dangote said the Company remains optimistic about the future,
“We will continue to improve our efforts in sustainability by applying ‘The Dangote Way’ to the seven Sustainability Pillars of our business culture and operations. We are also focused on increasing capacity in the Nigerian market and building grinding plants across West and Central Africa to be fed clinker from Nigeria.”
He added that, “We welcome the Africa Free Trade Agreement which supports our export strategy and long-term growth in Africa. Dangote Cement is well positioned to capture demand driven by the economic recovery in 2021, as the region recovers from the impact of the pandemic and all our countries of operation return to growth.”