Dangote Cement Plc has announced the completion of the first tranche of its share buy-back programme which was announced on 21 December, 2020.
Following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of Dangote Cement amounts to 17,000,307,404.
Total Number of Shares Repurchased was 40,200,000, representing 0.24% of the Company’s issued and fully paid ordinary shares.
Total Value of Shares Repurchased was N9,769,478,307.80 at an average price of N243.
According to the Company: “Execution of this Tranche I did not have any material impact on the Company’s financial position.
The Company will continue to monitor the evolving business environment and market conditions, in making decisions on further tranches of the Share Buy-Back Programme.
Dangote Cement is Africa’s leading cement producer with operations in over ten (10) African countries including Nigeria, Cameroon, Congo, Ethiopia, Ghana, Senegal, Sierra Leone, South Africa, Tanzania and Zambia.
The Company generated revenues of N761.44 billion in the nine-month period ended 30 September, 2020 (9M 2019: N679.79 billion) and a net profit of N208.69 billion (9M 2019: N154.35 billion). DCP is a public company listed on The Nigerian Stock Exchange.