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Home Business News

Aliko Dangote will earn over ₦100 billion in dividends

Onome Ohwovoriole by Onome Ohwovoriole
March 21, 2018
in Business News, Company News
Forbes names Dangote as Africa’s richest man for the seventh straight year.

Aliko Dangote. President, Dangote Group

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The first half of the year must be a jolly one for Africa’s richest man going by an estimate of dividends he will earn from his various companies. Dangote Industries Limited (DIL) will earn over ₦100 billion in dividends from the various firms in the Dangote Group.Here is a breakdown of what DIL will earn from each firm.

DIL is ultimately controlled by Aliko Dangote.

Dangote Cement Plc

Dangote Cement Plc, the largest company in the group yesterday released its results for the financial year ended December 2017.A final dividend of ₦10.50 per share was declared totalling ₦144.8 billion. The company has an issued share capital of 17,040,507,405 shares.

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The majority shareholder in the firm is Dangote Industries Limited (DIL) with a 85.06% stake amounting to 14,484,431,294 shares. DIL thus made about ₦152 billion from its holding in Dangote Cement.

NASCON Allied Industries

NASCON Allied Industries declared a final dividend of ₦1.50 per share. Dangote Industries Limited has a 62.19% stake in the firm amounting to 1, 647, 763, 557 shares. Total dividend thus earned amounted to ₦ 2,471,645, 335

Dangote Sugar

Dangote Sugar has paid an interim dividend of ₦0.50 per share for the 2017 financial year. Dangote Sugar Limited has an issued share capital of 12 billion shares. DIL has a 68% stake in the firm amounting to 8.16 billion shares. DIL’s interim dividend from the firm amounts to ₦4,080,000,000


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Tags: Aliko DangoteDangote Industries limited (DIL)
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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Comments 4

  1. Abiola says:
    March 21, 2018 at 10:40 am

    Dangote cement declared 10.50NGN per share as dividend for 2017. His dividends from that alone will be in excess of 135 billion naira. Please do the maths again. The results you quoted are for 2016 results of Dangote cement

    Reply
    • Onome Ohwovoriole says:
      March 22, 2018 at 12:24 pm

      Thank you for the observation. We will amend accordignly.

      Reply
  2. L'Bookie says:
    March 21, 2018 at 1:47 pm

    Dividend for 2017 financial year is N10.50 per share. N8.50 per share quoted in the article was for 2016.

    Reply
    • Onome Ohwovoriole says:
      March 22, 2018 at 12:23 pm

      Thank you for the observation sir. We will amend accordingly.

      Reply

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