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Dangote Cement announces N65.84 billion dividend payout

World Cement,

Dangote Cement Plc, member of the Dangote Group has recently announced the total dividend payout of N65.84 billion for the financial year ended in December 2010. This is equivalent to N4.25/share.

The dividend is made up of an interim dividend of N2/share, which translated to N30.98 billion paid in the September 2010 period and a final dividend of N2.25/share or N34.86 billion announced the most recently.

The company announced a turnover of N202.565 billion this year, in comparison with the N189.6 billion recorded for the preceding year. The company’s profit before tax also increased by 58.9% to N101.33 billion from the last year’s N63.8 billion, profit after tax grew by 73.7 % to N106.6 billion from N61.4 billion in 2009.

Alhaji Aliko Dangote, the president of Dangote Group, assured the shareholders of good returns on their investments, saying that the new line at Obajana’s contributions alongside the commencement of production of 6 million t at the Ibeshe plant later this year, will positively affect the company’s turnover and, ultimately, returns on shareholders investments.

Commenting on the result, Joseph Makoju, Special Adviser to the President said: "This impressive result for the 2010 financial year when viewed against the background of the relatively stable environment of 2010 is not unexpected as the supply and cost of major input of cement manufacture such as natural gas, LPFO and diesel were relatively stable."

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