The Dangote Cement has grown the wealth of its shareholders, paying over N 1 trillion as dividends in the past seven years, the company’s Acting Group Chief Financial Officer, Guillaume Moyen, has revealed.
Moyen, who disclosed this during the virtual ‘Facts behind the figures and Sustainability report’ presentation to capital market stakeholders at the Nigerian Stock Exchange(NSE), said the company was focused on growing the Nigerian economy.
Dangote Cement paid N51.1 billion was paid in 2013; N119.3 billion in 2014, N102.2 billion in 2015, N136.3 billion in 2016, N144.8 billion in 2017, N178.9 billion in 2018 and N272.6 billion in 2019.
According to Moyen, Dangote Cement has a sustained focus on helping the Nigerian economy and doing what it can to benefit the economy.
He said: “Arguably our biggest achievement to date is taking Nigeria from being a big importer of cement to being self-sufficient, and now an exporter. We are developing road infrastructure and durable concrete roads, which are a major economic catalyst and hugely beneficial for the country’s transport sector.”
“The company has an outstanding financial profile and has achieved excellent financial performance during this period. If we look at the last seven years, you will see that our EBITDA has increased by a CAGR of 9.0 per cent. We have paid over N1 trillion in dividends to shareholders in the last seven years. As Africa’s largest cement manufacturer, we will continue to prioritize giving value to investors and other stakeholders,” he added.
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In his presentation, Group Chief Executive Officer, Dangote Cement, Michel Puchercos, said amidst the Covid-19 challenges, the company placed an emphasis on the health and safety of team members, customers, suppliers, and communities at large as a core value.
Puchercos stated that as Africa’s largest cement manufacturer, they take their role of social responsibility seriously and they have taken deliberate steps to deploy resources to help their communities overcome hardships in this crisis.
He disclosed that Dangote Cement has spent $1.9 million in response to COVID-19 to ensure the safety and protection of its people, customers and communities.
The GCEO explained that while the world faces economic recession and downturn, Dangote Cement is fortunate enough to have had a decent start to the year as reflected in its first half financial results
“We are fortunate to have resilient H1 2020 results amidst impact of COVID-19. Cement is an essential building material with no viable substitutes and the global cement industry continues to grow driven by urbanization, population growth, housing growth, industrialization, and infrastructure development, especially in emerging economies such as Africa, where we operate. We are presented with a huge opportunity and are strategically positioned to take advantage of these opportunities with our operational efficiency, product quality, modern facilities, and technology to leverage our unique economies of scale and know-how,” he said.
Source: (This Day)
