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

 

 WCT2021

WCT2021

At WCT2021 you will hear from a range of industry leaders and technical experts as they discuss the key challenges facing the cement industry and the latest solutions on offer. Register for free today »

 

Fuelled by efficiency

Dr. Dipl. Eng. Jan Tuma, BEUMER Group, considers the most effective solutions for efficient conveying, storage and feeding of alternative fuels.

 
 

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