Key Highlights
⚫ Dangote Cement Pic plans to pay shareholders about N340 billion after approval at its AGM on April 13, 2023, provided their names are registered in the company’s Register of Members by March 30, 2023.
⚫ Shareholders with unclaimed dividends or share certificates should contact Coronation Registrars Ltd to address their claims. The company has also advised shareholders to open bank accounts, stockbroking accounts, and CSCS accounts for receiving dividend payments electronically.
⚫ The company’s financial statements for 2022 show an increase in gross earnings and revenue due to higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The group’s earnings per share increased by 5 percent to N22.27 billion, while the company’s earnings per share increased by 6 percent to N23.87 billion.
Management of the pan-African cement manufacturer, Dangote Cement Plc has revealed that once the shareholders at the AGM slated for April 13, 2023, approve the proposal, the shareholders whose names are registered in the Company’s Register of Members at the close of business on 30 March 2023 will be immediately paid the sum of about N340 billion a day after the meeting.
In the notice of AGM, published in the Newspapers and signed by Dangote Cement’s Acting Company Secretary, Edward Imoedemhe, the company revealed that a list of unclaimed dividends is available on the Company’s website at www.dangotecement.com and that Shareholders with unclaimed share certificates or unclaimed dividends should address their claims to the Registrars, Coronation Registrars Ltd, at info@coronationregistrars.
The company also stated that it is giving notice to all shareholders to open bank accounts, stockbroking accounts, and CSCS accounts for receiving dividend payments electronically and also that pursuant to the provision of Section 187 of CAMA 2020, the treasury shares are not entitled to dividend and voting rights.
The Cement company disclosed in the published Notice that, its ordinary business for the day will include: laying the Audited Financial Statements for the Year Ended 31 December 2022 together with the Reports of the Directors, Auditors, and the Audit Committee thereon; declaring a dividend; elect/re-elect Directors; authorize the Directors to fix the remuneration of the Auditors for the 2023 financial year; disclose the remuneration of Managers of the Company and also elect shareholders’ representatives of the Statutory Audit Committee.
The AGM will also consider and if thought fit, fix the remuneration of the Directors.
In the financial statements of the organization for 2022, the gross earnings for the Group increased to N1.6 trillion from the N1.4 trillion recorded in the preceding year due to the higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The company’s revenue also increased by 21 percent to N1,205 billion as against N993 billion recorded for the preceding year.
While the group’s earnings per share increased by 5 percent to N22.27 billion as against the preceding year’s N22.42 billion, the company’s earnings per share increased by 6 percent to N23.87 billion as against N22.42 recorded for the preceding year.
Source: nairametrics
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