• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Equities Company Results

SEC approves renewal of Dangote Cement Share Buyback programme.

Chidi Emenike by Chidi Emenike
July 9, 2021
in Company Results, Markets
Share on FacebookShare on TwitterShare on Linkedin

The Securities and Exchange Commission (SEC) has approved the renewal of Dangote Cement Share Buyback Programme effective until 21st of January, 2022.

According to a notice signed by the deputy secretary of Dangote Group, Edward Imoedemhe, the share buy-back programme will be executed under the approval granted by the Company’s shareholders at the recently concluded Annual General Meeting of the company.

In line with the recent development, the notice stated that the share buyback will be undertaken through an open market offer or self-tender, at a period and term determined by the company, subject to prevailing market conditions.

RelatedStories

Yusuf Tuggar, Nigerian military

WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 

June 21, 2025
Heineken launches mandatory takeover bid of Champions Breweries, offers to buyout remaining 15.3% equity stake

Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 

June 21, 2025

About Dangote Cement Share Buyback Programme

Pursuant to a resolution of the Company on 22nd of January 2020, Dangote Cement Plc (DCP) announced a Share Buyback Programme that will see the firm buy back up to 10% of its issued 10.04billion ordinary shares. The firm announced that the shares bought back will be held as Treasury Shares and subsequently cancelled.

To effectively execute this, the firm announced that programme will be implemented in tranches. The first tranche which commenced on 30th of December and ended on 31st of December 2020, saw the company re-purchase about 40,200,000 ordinary shares (representing about 0.24% of the total issued and fully paid ordinary share of the company) at an average share price of N243.02, totalling N9.77billion.

However, with the rising tide of the COVID-19 pandemic and its debilitating impact on the economy, it became apparently difficult to continue in the effective implementation of the programme as planned.

Efforts to salvage the situation paid off on the 26th of May 2021, when shareholders passed a special resolution renewing the Share Buyback Programme. The decision to renew the programme was premised on renewed optimism in the improvement in economic conditions.

In line with this development, the firm noted that it will continue to monitor the evolving business environment and market conditions, in making decisions on tranches of the share buyback programme.

What you should know:

  • A Share Buyback Programme involves the company buying back her issued shares from shareholders at a prevailing market price. This is tantamount to the company investing in itself.
  • The Share Buy-Back Programme is in line with the framework provided under Rule 398 (3)(xiv) of the Securities and Exchange Commission’s (“SEC”) Rules and Regulations (as applicable) and in accordance with Rule 13.18 of the Rulebook of the Nigerian Stock Exchange (“The NSE”).
  • Dangote Cement is a subsidiary of Dangote Industries Limited, and the largest cement producer in Sub-Saharan Africa with an installed 48.6Mta capacity across 10 African countries.

 

 

Chidi Emenike

Chidi Emenike

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

Related Posts

Yusuf Tuggar, Nigerian military
Business News

WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 

June 21, 2025
Heineken launches mandatory takeover bid of Champions Breweries, offers to buyout remaining 15.3% equity stake
Business News

Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 

June 21, 2025
Under Tinubu, a blueprint for Nigeria’s consumer credit economy is quietly unfolding 
Business News

‘The era of pit to port must end’ – Tinubu tells West African leaders at WAES2025 

June 21, 2025
Bello Matawalle, Zamfara state
Business News

FG to tap into the $90 million global market for Electronic Navigational Charts – Matawalle 

June 21, 2025
GTCO Plc hits 52 weeks high as stock rises to N38.5 per share
Legal & Regulations

GTBank loses N970m debt case against MKO Abiola’s son, RCN Networks

June 21, 2025
Top 10 Nigerian companies with the largest number of employees as of 2024 
Exclusives

Top 10 Nigerian companies with the largest number of employees as of 2024 

June 21, 2025
Next Post

UBA’s Non-Executive Director acquires additional shares worth N3.83 million.

Comments 0

  1. Ondoma Ona Edwin says:
    July 12, 2021 at 1:06 pm

    Ok

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 
  • Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 
  • ‘The era of pit to port must end’ – Tinubu tells West African leaders at WAES2025 

Follow us on social media:

Recent News

Yusuf Tuggar, Nigerian military

WAES: West Africa exported goods valued at over $166 billion in 2024 – Tuggar 

June 21, 2025
Heineken launches mandatory takeover bid of Champions Breweries, offers to buyout remaining 15.3% equity stake

Heineken withdraws staff, suspends operations in Eastern DRC cities amid worsening rebel conflict 

June 21, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics