Dangote Cement pays interim dividend

Dangote Cement pays interim dividend
Published: 26 November 2010

Dangote Cement Plc, a member of the Dangote Group, has announced an interim dividend of N30.98bn for the period ended September 30.

The interim dividend is part of the group’s strategies of enhancing and growing shareholders’ value through consistent dividend payment. It also fulfills the promise by the directors of the company to pay an interim dividend to shareholders.

Dangote Cement resulted from the merger between Dangote Cement and Benue Cement Company (BCC). The merger created the biggest company listed on the Nigerian Stock Exchange (NSE).

In the review period, the enlarged company reported a turnover of N146.56bn. According to the unaudited financial results, turnover rose by N55.26bn or 37.71 per cent, when compared to turnover value of N91.30bn posted in the corresponding period of 2009.

A review of the financial results indicated that Profit Before Tax (PBT) rose by N30bn or 39 per cent to N76.93, compared to N46.93bn recorded in the corresponding period of 2009. Profit After Tax (PAT) was on the same upward swing, as it rose by N30.16bn or 40.05 per cent to N75.30bn, in contrast to N45.14bn at the preceding year.

With the payment of N30.98bn interim dividend, investors in the companies under the Dangote Group that are listed on the Exchange received a total dividend of N60.21bn.