Dangote capitalisation hits NGN2.1trn

Dangote capitalisation hits NGN2.1trn
Published: 06 January 2011

Companies under the Dangote Group listed on the Nigerian Stock Exchange (NSE) closed 2010 with a market capitalisation of NGN2.15trn (US$13.78bn), just as President and Chief Executive of the Group, Alhaji Aliko Dangote, has assured that the companies would continue to strive to ensure good returns for shareholders.

Market capitalisation is the number value of the shares of company multiplied by the current price of the shares. THISDAY checks revealed that the NGN2.152trn is the value of the four companies under the Dangote Group, which include: Dangote Cement Plc, Dangote Sugar Refinery Plc, Dangote Flour Mills Plc, and National Salt Company of Nigeria (NASCON).

As at the close of trading last Friday, which was the last day of 2010, Dangote Cement had a market capitalisation of NGN1.859trn (the highest in the market) DSR accounted for NGN194 billion, Dangote Flour Mills NGN 84 billion, while NASCON had NGN 16.9 billion.

Meanwhile, Dangote was last Monday quoted in a statement as saying that the management of the companies would ensure that all those who have their investments in the Group would be adequately compensated with robust returns on their investments.

He said:"Our reason for listing any of our companies is to take care of shareholders. Last year, we gave a dividend of over NGN23bn".