BY MICHAEL EBOH

With the payment of a dividend of N1.9 billion by Dangote Flour Mills Plc, the total dividend payout of the Dangote Group to shareholders of the four companies under the group for the 2010 financial year now stands at N76.24 billion.

This is compared to a dividend of N60.21 billion paid out by the group in the 2009 financial year.

According to a statement by the company, the total dividend paid out by the Dangote companies becomes more significant, when viewed against the harsh economic and operating environment.

Listed members of the Dangote Group which have since declared profit in their 2010 business year are Dangote Flour Mills Plc, Dangote Sugar Refinery Plc, Dangote Cement Plc and National Salt Company of Nigeria Plc, NASCON.

Dangote Cement paid a dividend of N 65.84 billion; Dangote Sugar paid N7.2 billion, while NASCON paid out N 1.3 billion dividend.

In a statement to shareholders, Chairman of the Group, Alhaji Aliko Dangote, said that the Board and management would continue to work hard so as to deliver improved returns to shareholders.

He said that going forward, Dangote Flour Mills would perform better as the expansion project of the company to enlarge its manufacturing and packaging facilities, which started some years back is almost completed.

“Our dedicated plant for production of our wheat meal brand Alkama and Danvita would soon be ready for commissioning any moment from now.

This would no doubt, tremendously boost our top line growth in year 2011 as plans are already in place to massively launch the products and increase the distribution networks to all the hinterlands,” he said.

The statement said that the companies in the group have enjoyed the commendation of shareholders, especially for their effort rewarding them bountifully despite the economic down turn in the capital market.

Chairman, Shareholders’ Trustees Association of Nigeria, Alhaji Mukhtar Mukhtar described the dividend payout as remarkable given that most companies are unable to do He said, “We are encouraged by Alhaji Aliko Dangote. In addition to this, his companies have been creating jobs and feeding Nigerian families. All Nigerians should emulate him.”

Another shareholder who spoke on the condition of anonymity said, “We are very pleased with the performance of member companies of the Dangote Group on the NSE. The performance of these companies is a delight to shareholders proving that with good management, any company can excel.”

He added that at a period when banks are not paying dividends, while those paying are only offering miserly amounts, the four companies under the group have done well for the shareholders.