The Nigerian Stock Exchange (NSE or The Exchange) hosted Dangote Cement Plc to a joint virtual Facts Behind the Figures and Sustainability Report on Wednesday, 23 September 2020. The event provided a platform for the Management of Dangote Cement Plc to present its financial performance, strategic and operational developments and sustainability initiatives to the capital market community.
Speaking at the virtual event, the Chief Executive Officer, NSE, Oscar N. Onyema, OON, stated, “Given that the market is driven by timely, relevant and accurate information, we are pleased that Dangote Cement Plc has leveraged this platform to interact with the market. We must also commend the Board and Management of the company for their leadership in integrating sustainability into the core of their business operations evidenced by the fact that Dangote Cement Plc was the first to participate in the maiden edition of the Facts Behind the Sustainability Report (FBSR) series launched last year. At The Exchange, we will continue to highlight the importance of sustainable business practices in delivering value to our listed companies, the investing public and to support African economic growth”
On his part, the Group Managing Director, Dangote Cement Plc, Michel Puchercos, noted, “It is always an honour to be invited by NSE and we are proud of our strong ties with The Exchange. We appreciate the opportunity to continue deepening public interest and knowledge about Dangote Cement, and we are grateful for the continued support of our business from the capital market community. As Africa’s largest cement manufacturer, the future certainly looks bright. We have established a strong platform for future growth and consolidation across Africa, and we are on track to be a global leader in cement production recognised for high quality products and services, and the way we conduct our business.”
The Facts Behind the Figures and Sustainability Report was presented by Dangote Cement Plc’s Acting Chief Financial Officer, Guillaume Moyen and the Head, Sustainability, Eunice Sampson. Also speaking at the event was Bismarck Rewane, Managing Director/Chief Executive Officer, Financial Derivatives Company. In his presentation, he highlighted the investment opportunities Dangote Cement provides stating, “Being the largest company on NSE, Dangote Cement Plc provides ease in execution of investment decision. Furthermore, its stock price has shown the most resilience compared to peers; it provides indirect exposure to Dangote Cement Plc’s operating countries; it delivers a source of income through stable and strong dividend to investors (dividend yield of 11.8%); and has attractive upside potentials with a target price of N173 at a 28% premium to current price.”
Following the presentations and an engagement session with participants, Mr.Puchercos was honoured with a digital Closing Gong ceremony. It would be recalled that The Exchange has leveraged its digital Closing Gong ceremony since April 2020 as part of measures to sustain business activities at The Exchange and continue to engage with Issuers and other stakeholders. This is just one of the ways The Exchange has demonstrated its resilience in recent times and the market continues to look forward to further innovation and opportunities for engagement at NSE.