Skip to main content

AshakaCem increases gross dividend by more than 7%

Published by
World Cement,


AshakaCem Plc held its 40th AGM last week and announced a 7.1% y/y increase to the gross dividend. The proposed dividend was in consideration of the company's plan to invest in a significant expansion of its cement production capacity to about 4 million t from the current ~1 million t, partly with internally generated funds. The ground-breaking ceremony of the Ashakacem expansion project took place last year. The expansion comprises debottlenecking of the existing line, bringing 0.5 million t of additional capacity, as well as the addition of a new 2.5 million tpy line. A 64 MW captive coal-fired power plant is being built as part of the project.

Commenting on AshakaCem's financial performance for the year 2014, the Managing Director/Chief Executive Officer, Leonard Palka attributed the 84.5% increase in profit before taxation when compared to the previous year's to cost efficiency and the increased use of local coal in place of the expensive LPFO in the year under review.

The shareholders ratified the appointment of the new Chairman of the Board as well as Messrs. Anders Kristiansson, Rabiu Abdullahi Umar and Mrs. Edith Onwuchekwa as non-executive Directors.

AshakaCem is a full part of the consolidated Lafarge Africa Plc.


Adapted from press release by

Read the article online at: https://www.worldcement.com/africa-middle-east/12052015/ashakacem-increases-gross-dividend-by-more-than-7-percent-823/

You might also like

 WCT2020

Optimisation 2020

Optimisation 2020 provides a unique online forum for cement industry professionals to hear first-hand from experts through a series of exclusive presentations from cement producers and industry experts.

Find out more and register for the series »

 

 Spotlight

World Cement Spotlight with Rockwell Automation

World Cement Editor, David Bizley, sat down with Michael Tay, Advanced Analytics Product Manager at Rockwell Automation to discuss his recent article in World Cement.

Entitled ‘Smooth Sailing’, this article explains how machine learning can help save energy, reduce downtime and predict equipment failures, thus enabling the smooth running of cement plant operations.

Watch the interview now »

 
 
 

Embed article link: (copy the HTML code below):