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The board of directors of Dangote Cement Plc has proposed a dividend of N511.215 billion for the financial year 2023.
This represents a significant increase over the previous year’s dividend, and is a reward of N30.00 per share held. Shareholders are set to benefit from the company’s strong financial performance in the last financial year.
The dividend recommendation is subject to the approval of shareholders at the company’s Annual General Meeting (AGM).
This was contained in the company’s corporate action announced at the Nigerian Exchange Limited (NGX) on Monday and obtained by Economic confidential.
The board noted that it considered that the proposed dividend is appropriate and is in line with the company’s strategic growth objectives.
According to the company, the dividend is subject to the appropriate withholding tax and will be paid to shareholders whose names appear in the register of members as at the close of business on Monday, April 15, 2024.
This will be presented at the next Annual General Meeting for shareholders’ ratification and approval
The statement signed by the company noted that on Friday, May 31, 2024, dividends will be paid electronically to shareholders who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts.
