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.
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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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
Thank you for the observation. We will amend accordignly.
Dividend for 2017 financial year is N10.50 per share. N8.50 per share quoted in the article was for 2016.
Thank you for the observation sir. We will amend accordingly.