• 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 Companies Corporate Updates

Shareholders unanimously approve Dangote Cement’s share buy-back

NM Partners by NM Partners
December 14, 2022
in Corporate Updates
Shareholders unanimously approve Dangote Cement’s share buy-back
Share on FacebookShare on TwitterShare on Linkedin

Shareholders of Dangote Cement, unanimously on Tuesday authorized the Management of the company to undertake a share buyback of up to 10 percent of its issued shares, effective from the date of the resolution.

The company had earlier indicated an interest in undergoing a share buyback program, in respect of up to 10 percent of its issued shares, for the purpose of improving the company’s return on equity and its shareholders’ value, so as to facilitate the future long-term growth of the company.

The approval through voting, which was given at the company’s Extraordinary General Meeting, held in Lagos recorded 100 percent approval from the shareholders, with many of them describing the exercise as very laudable and a win-win situation for them.

RelatedStories

Government Urged to Deliberately Subsidize Manufacturing in Nigeria for Economic Growth

Top 10 industrial goods companies by market capitalization 

September 22, 2025
Aliko Dangote

We pay 52% of revenue from our cement business as taxes to government – Aliko Dangote

September 16, 2025

Among other resolutions, the shareholders authorized that the “Memorandum and Articles of Association of the company be amended (as applicable), upon completion of the share buyback, to reflect the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.”

The Board was also authorized to ensure that the amendment of the Articles of Association of the company reflects the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.

It would be recalled that the Shareholders, at the company’s recent 13th Annual General Meeting (AGM), also commended the Management of the company for an impressive performance despite the economic challenges in the year under review.

Unanimously, they approved N20 per share for the year ended December 31, 2021, as against the N16 paid in the preceding year. That represented a 25 percent increase in dividend compared to the 2020 dividend of N16.00 per share, reinforcing the Company’s commitment to maximizing shareholder value. They also applauded the company for its drive in reducing unclaimed dividends of the company.

Dangote Cement in the year under review achieved its highest profit before tax in its history at N538.4 billion. Also, the Company recorded Group volumes of 29.3Mta, up 13.8 percent. Exceptional EBITDA of N684.6 billion was achieved, up by 43.2 percent owing to strong cost control measures.

Chairman of the company, Aliko Dangote, said that “Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, “Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.”

“As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability, and grit. These values are what we need to face in unpredictable times in the future.

“Dangote Cement remains the leading cement company in Africa, well-positioned for a positive and sustainable future. We are resolute in transforming Africa while creating sustainable value for our stakeholders,” Dangote added.


Follow us for Breaking News and Market Intelligence.
Tags: Dangote cement
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

Government Urged to Deliberately Subsidize Manufacturing in Nigeria for Economic Growth
Equities

Top 10 industrial goods companies by market capitalization 

September 22, 2025
Aliko Dangote
Energy

We pay 52% of revenue from our cement business as taxes to government – Aliko Dangote

September 16, 2025
The 10 most valuable companies in Nigeria as of September 2023 
Economy

Nigerian companies on track to declare highest corporate taxes ever in 2025 

August 24, 2025
NGX
Dividends

Top 10 Stocks that paid the most cash dividends in H1 2025

August 18, 2025
Cement prices may hit N9,000 over FG’s introduction of concrete roads – Manufacturers
Companies

Nigerian Cement Giants’ profits climb on price hikes as consumers pay the price  

August 15, 2025
The 10 most valuable companies in Nigeria as of September 2023 
Companies

Nigerian firms swimming in cash as operating cash flows surge to all-time highs

August 11, 2025
Next Post
LASG, Olajide Babatunde

Lagos set to digitise processing of land document processing

Comments 1

  1. Mohammed Hassan says:
    December 15, 2022 at 5:40 am

    This is indeed another sad day for the growth of capital market in Nigeria. What is unanimous when one shareholder owns over 70perxent of the company. Why won’t it be unanimous?
    I remember when Dangote entered the capital market with all the packaging Okereke-onyiuke did for him and many other so called billionaires today. What did they do to the woman. They exposed her and hurriedly pushed her out.
    Today Dangote us buying back shares of those that supported his business when he was not up there.and we are proclaiming unanimous. It is just a pity. So he has now finished using them hence he can pay them back their money. Why can’t he reduce the holdings of DIL in the business if he wants to buy back?
    The middle class they tried to use the capital market to establish had been lost and if we are not careful the loss might be permanent. In essence, you are either poor or rich in Nigeria. The in-between are those one japaing and they are not available for the country and they may never return.
    I think.SEC should look at the possibility of specifying a minimum number of years before an issuer can undertake share buy back. The literatures that said an investor must hold a stock for at least 10 years to realise capital gains is not stupid. So an issuer doing buy back after less than 10 years and forcing an investor to sell before the 10 years is short changing the investor.
    It is common knowledge in the economy that we run a cash and carry system. Dangote gas manipulated the system to the extent that it is now hurting. Enough is enough

    Reply

Leave a Reply Cancel reply

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

Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • Transcorp Power tops heavyweights as NGX hits N93.7 trillion 
  • Lagos to remove illegal reclamation structures, prosecute offenders from Oct. 15 
  • NAICOM pushes for regional insurance collaboration to bridge climate finance gap 

Follow us on social media:

Recent News

NGX

Transcorp Power tops heavyweights as NGX hits N93.7 trillion 

October 13, 2025
Lagos State Commissioner for Environment and Water Resources, Tokunbo Wahab

Lagos to remove illegal reclamation structures, prosecute offenders from Oct. 15 

October 13, 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