Login to your account

Username *
Password *
Remember Me

Three subsidiaries of Dangote Group paid about N59 billion dividend last year alone. As of end of December, 2012 financial year, Dangote Cement, Dangote Sugar Refinery and National Salt Company of Nigeria (NASCON) altogether paid a jumbo N59 billion as dividends to shareholders.

The group's flagship, the Dangote Cement led the pack with a total dividend payout of N51 billion; Dangote Sugar rewarded the shareholders with N6 billion while Dangote Salt (NASCON) paid out N2.3 billion as dividends.

As for Dangote Cement, the dividend approved by the shareholders at the 2012 Annual General Meeting (AGM), held in Abuja translated to an unprecedented 300 kobo per share.

As for Dangote Sugar Refinery, it enriched its shareholders with 50 kobo for every one ordinary share of 50 kobo. NASCON, on its part paid each shareholder 90 kobo for every 50 kobo ordinary share held.

A statement from the group at the weekend said the dividends payout from the subsidiaries was significant in many respects, given that many quoted companies could not pay good dividends while others recorded either declining profits or outright loses.

Shareholders praised the board and management of the business units for recording sterling performances in the financial year under consideration, despite operating challenges in the environment.

Reacting to the dividend payout, Chairman, Progressive Shareholders' Association of Nigeria, Mr. Boniface Okezie attributed the performance of the companies to the expertise and diligence the board and management.

He commended the board for recommending good dividends as the dream of any investor is to see share prices appreciate and receive more dividends.


Related Articles