Alhaji Aliko Dangote, the President of Dangote Industries Limited (DIL), and majority shareholder in Dangote Cement Plc is to receive in excess of N245 billion as dividend alone.
The breakdown from the audited full year results released last week for the year ended 31/12/2018, revealed a total of N390.325 billion as Profit after
Tax to be shared into 17,040,507,405 units, being the total number of outstanding shares in Dangote Cement PLC; bringing earnings per share to N22.19.
The company’s management considered the portion of PAT to be reserved and retained, proposed N16 final dividend to the shareholders as contained in the dividend information released by the company’s secretary on the 27th March 2019.
The breakdown from the share structure of 90/10% ownership of the company shows that 90% ownership belonging Aliko Dangote will receive a dividend of N16 on every 15,336,456,664.5 units of share of 50 kobo each and as a results the chairman of Dangote Group will personally smile to the bank with the largest chunk of N245,383,306,632 billion only from dividend.
The minority 10% will jostle for N16 on every 1,704,050,740.5 units of share left and this amount to N27,264,811,848 million as dividend.
The increased dividend came as the company witnessed impressive growths in sales and profit in 2018. Key extracts of the audited report and accounts of Dangote Cement for 2018 showed that group turnover rose by 11.87% from N805.6 billion in 2017 to N901.2 billion in 2018. Pre-tax profit grew marginally by 3.87% from about N289 billion to about N300 billion in current period.
Today, Dangote Group is a diversified conglomerate, headquartered in Lagos, with interests across a range of sectors in Africa and Current interests include cement, sugar, flour, salt, pasta, beverages and real estate, with new projects in development in oil and natural gas, telecommunications, fertilizer and steel Competitors in both Nigeria and other portions of Africa
Dangote Cement, the largest cement production company in Africa, with a market capitalization of almost US$9.32 billion on the Nigeria Stock Exchange, has subsidiaries in Benin, Cameroon, Ghana, Nigeria, South Africa and Zambia.