Dangote Cement Plc has proposed a dividend of N16.00 per 50 kobo ordinary share for the period ended 31 December 2018. This, according to the company, is subject to appropriate withholding tax and shareholders’ approval.
Closure of register: The agreed dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on June 3rd, 2019.
According to a statement that was signed by the company’s Deputy Secretary (Edward Imoedemhe) and sent to the Nigerian Stock Exchange, June 17th, 2019 has been scheduled for the company’s Annual General Meeting (AGM). It will be held at Eko Hotels and Suites in Victoria Island, Lagos.
Payment date: The dividends will be paid electronically to shareholders whose names appear on the Register of Members as at June 3, 2019, and those who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.
What you need to know: To complete the e-dividend registration, shareholders are urged to download the Registrar’s E-Dividend Mandate Activation Form which is available on United Securities Limited‘s website. Shareholders will then complete the downloaded form and submit to the Registrar or their respective Banks.
Unclaimed Dividends: Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.
Full-year audited 2018 results
Revenue: The company reported revenue of N901.2 billion for the period ended December 31st, 2018. This marks an 11.9% increase compared to N805.5 billion reported for FY 2017.
Profit Before Tax: Profit before tax stood at N300.8 billion for the period ended December 2018, marking a 3.9% increase from N289.59 billion reported for the period ended December 2017.
Profit After Tax: The company’s profit after tax for the half year ended 31st December 2018 was N390.3 billion as against N204.2 billion recorded in FY 2017. This represents a 91.1% increase in the comparative period in 2017.
First Quarter 2019 financial result
Revenue: The company’s revenue declined from N242 billion in the first quarter of 2018 to N240 billion in Q1 2019. This represents a 0.82% decrease.
Gross Earnings: Gross earnings also reduced from N144 billion in 2018 to N140 in 2019; representing a 2.77% decrease.
Profit Before Tax: Profit before tax fell from N108 billion in 2018, to N78 billion in 2019, representing a decrease of 27.77%.
Profit After Tax: Profit after tax dropped from N72 billion in 2018, to N60 billion in 2019, representing a reduction of 16.66%.
Note: Dangote Cement recently raised N50 billion through its N150 billion Commercial Paper (CP) programme.