4th April, 2012
Dangote Cement Plc, Nigeria’s largest capitalized company has declared a dividend of N1.25 and will also reward its shareholders with a bonus issue of one new share for every 10 held.
In its full year audited account submitted to the Nigerian Stock Exchange today, Africa’s leading and biggest cement manufacturer reported a N33 billion increase in turnover and N20.6 billion rise in profit after tax for 2011. While turnover in 2010 was N202.6 billion, it went higher to N235.91 billion last year.
Cost of sales increased by about N15 billion to reach N96 billion, just like administration expenses, which jumped N4 billion more than the N18.2 billion incurred last year.
The company’s profit after tax of N125.9 billion in 2011, was an improvement over the N105 billion made in 2010.
The results appeared to have impressed the market as the company’s stock appreciated by 50 kobo in mid-day trading in Lagos, rising from N115.50, to N116.
The dividend and bonus will be paid on 1 June, after the AGM on 24 May in Lagos.
Qualification date for both the bonus and the dividend is 11 May, while the company’s registers will close the company’s books between 14 and 18 May, according to the information provided to the Nigerian stock Exchange.
