Dangote cement pays N16 dividend per share

Dangote Cement promo triggers upsurge in cement demand

Investments made by Dangote Cement Plc in various parts of Africa have begun to yield results as Pan-African sales volume grew in the year 2019 to 9.6 million tonnes (Mt), from 9.4 million tonnes.

According to the full year report released on the floor of the Nigerian Stock Exchange, Dangote Cement Plant, Mtwara, Tanzania, recorded 94 per cent increase in volume within the period under review. Dangote Cement Plant, Pout, Senegal also stepped up sales by more than 100 per cent over rated capacity.

The Board of Dangote Cement Plc has proposed a final dividend of N16 per share subject to ratification by the shareholders at the coming annual general meeting (AGM).

Speaking on the result, Group Chief Executive Officer, Dangote Cement, Joe Makoju, said: “Dangote Cement maintained strong financial performance despite a low growth environment, pricing pressure and increasing competition in key markets.  The Nigerian operations maintained volume and revenue performance in a challenging environment. Export sales were affected by the border closure in the second half of 2019. Looking ahead, I expect an increase in volumes in 2020 as we commence clinker exports via shipping from Nigeria.

“Pan-Africa volumes were slightly up notably supported by Tanzania and Senegal. I am glad to report that Tanzania contributed positively at EBITDA level. In 2020, I believe Dangote Cement will see an increase in profitability in Pan-Africa driven by higher volumes and further efficiency improvements.

“As I retire from Dangote Cement, I am proud to have watched it grow from a local producer back in 2007 to a major force in global cement production. Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries. I wish Mr. Michel Puchercos all the best as the new Group Chief Executive Officer of Dangote Cement.”

Dangote Cement is Africa’s leading cement producer with nearly 46 million tonnes per annum (Mtpa) capacity across Africa. it is a fully integrated quarry-to-customer producer, with a production capacity of 29.25Mtpa in its home market, Nigeria. Its Obajana plant in Kogi State of Nigeria, is the largest in Africa with 13.25Mtpa capacity across four lines; Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mtpa and Gboko plant in Benue state has 4Mtpa.

In addition, Dangote Cement has operations in Cameroon (1.5Mtpa clinker grinding), Congo (1.5Mtpa), Ghana (1.5Mtpa import), Ethiopia (2.5Mtpa), Senegal (1.5Mtpa), Sierra Leone (0.5Mtpa import), South Africa (2.8Mtpa), Tanzania (3.0Mtpa), and Zambia (1.5Mtpa).

Leave a Reply

Your email address will not be published. Required fields are marked *