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Dangote Cement set to meet needs of local construction firms

*As shareholders okay N10.50k dividend

By Peter Egwuatu

Dangote Cement Plc has disclosed its readiness to meet the needs of construction firms across Africa just as shareholders endorsed the Board of Directors’ proposed N10.50 per share dividend.

The company is also considering raising money from the international bond market to refinance its debt and also support its investment in the expansion projects across Africa.

The Chairman, Dangote Cement Plc, Alhaji Aliko Dangote, disclosed this at the company’s 9th Annual General Meeting, AGM held in Lagos yesterday, saying that the financial year ended December 31, 2017 was the best for the company since its existence.

Nigerian Stock Exchange

Speaking further, he stated: “As part of our drive to increase international investor participation in our company, we submitted ourselves for credit rating by the international credit rating agencies Moody’s and Standard & Poor’s.”

Meanwhile, shareholders approved all the motions proposed at the AGM and commended the Board and Management for the remarkable improvement in its financials for the year under review, while calling on the company to crash the price of cement in the country.

The shareholders further asked the company to introduce payment of interim dividend going forward as this will provide relief to shareholders and boost shareholders’ value.

 


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