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Shareholders hail Dangote over Cement’s N272.6bn dividend

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Shareholders of Dangote Cement Plc on Wednesday commended the Management of the company for an impressive performance despite the economic challenges in the year under review.

Unanimously, the shareholders approved N272.6 billion as dividend, translating to N16 per share for the year ended December 31, 2020. The 16 per cent increase in the company’s revenue led to a 36 per cent increase in its earnings per share of N16.14 as against N11.29 in 2019.

The shareholders at the virtual 12th Annual General Meeting (AGM) held in Lagos commended the management for the full disclosure provided for the year, share buyback process and the various donations made at COVID-19 pandemic.

Speaking on behalf of shareholders, the founder, Independent Shareholders Association of Nigeria, Sir Sunny Nwosu commended the company for attaining a trillion-naira revenue growth, saying that the Company is moving in the best way of corporate governance.

 

He appealed to the Company to prevail on its numerous distributors who arbitrarily sell cement at very high costs as against the real factory price, thereby making so much profit for themselves.

 

Also, a shareholder, Non Awoh applauded the board for the consistency in dividend payout, urging the board to consider payment of dividend twice a year.

 

Speaking to shareholders, Chairman of Dangote Cement Plc, Aliko Dangote assured the shareholders of better returns always, noting that the company is doing everything possible to create wealth for its shareholders and other stakeholders. He further said despite the challenging year surrounding by COVID-19 pandemic, 2020 was a record year for us across board.

 

“Dangote Cement hit the N1 trillion mark in term of revenue. Group revenues were up 16 per cent compared to 2019. We record Group cement sales of 25.7 million tonnes (Mt) and revenues of N1.034 trillion. Most notably was our record high EBITDA of N478.1 billion, up 20.9 per cent compared to 2019…”

 

Dangote said that the board maintains the 2019 dividend of N16 per share, reinforcing its commitment to maximising shareholder value.

Also, the chairman said, “In 2020, we commissioned our Apapa and Onne export terminals in Nigeria and commenced clinker exports to West and Central Africa. The vision for our exporter strategy is to make West and Central Africa cement and clinker self-sufficient, with Nigeria as the main supplier and exporter. We also remain focused on meeting the demand in Nigeria and as such, we increased our capacity by three metric tonnes (MT) on Obajana and we commissioned our gas-fired power plant in Tanzania.

 

“Our Nigerian domestic operations sold 15.6Mt, up 14.3 per cent year-on-year, growing ahead the market. This strong volume growth was enhanced by our successful innovative national consumer promotion ‘Bag of Goodies- Season 2’, lower rains in the Q3 compared to the previous year and the low interest rate environment driving strong demand for real estate assets and supporting the construction sector.

 

“Pan-Africa volumes were up by 4.4 per cent to 10.0Mt despite the various lock-downs and restrictions in 2020. The Pan-African region achieved a record high EBITDA of N71.3 billion, up 49.0 per cent, notably supported by strong performance in Ethiopia and Senegal.”

 

On outlook for 2021, Dangote said the Company remains optimistic about the future, saying that the board is considering all strategic and financial options for the company. “We will continue to improve our efforts in sustainability by applying ‘The Dangote Way’ to the seven Sustainability Pillars of our business culture and operations. We are also focused on increasing capacity in the Nigerian market and building grinding plants across West and Central Africa to be fed clinker from Nigeria.”

 

He noted further that, “We welcome the Africa Free Trade Agreement which supports our export strategy and long-term growth in Africa. Dangote Cement is well positioned to capture demand driven by the economic recovery in 2021, as the region recovers from the impact of the pandemic and all our countries of operation return to growth.”

 

Also, the Group Managing Director/CEO of Dangote Cement Plc, Michel Puchercos said that despite the impact of the COVID-19 pandemic, 2020 was a record year for Dangote Cement across board.

 

On share buyback, he stated that Dangote Cement is constantly exploring ways of creating value for its shareholders, in addition to its consistent dividend and capital appreciation. He said: “The company has also been pursuing several options such as the share buyback programme to return cash to its shareholders.”

He added that, “Our strategy is to make the company more attractive to investors in the near term and for future long-term growth.”

Puchercos said that, “The outlook for the company is very positive as we are focused on meeting the demand locally and across Africa. We look forward to the African Continental Free Trade Agreement supporting our export strategy to West and Central Africa.”

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JUST IN: President Tinubu Orders Yahaya Bello To Submit Himself For EFCC Probe

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The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, has called on the immediate-past governor of Kogi State, Alhaji Yahaya Bello, to follow the path of decency and submit himself for probe.

Bello is being wanted by the Economic and Financial Crimes Commission (EFCC) over alleged corrupt practices while in office as governor of Kogi State

 

LEADERSHIP reports that in the last 24 hours, there have been dramas and hide and seek game between both parties over the move to arrest the former governor for arraignment this Thursday.

 

According to the AGF, in a statement he personally signed on Thursday, EFCC is empowered by law to invite any Nigerian for interrogation.

He also described the action of the incumbent governor of Kogi State, Ahmed Ododo, who used his immunity to prevent Bello’s arrest on Wednesday as ‘disquieting’, adding that embarking on a temporising self-help and escapism that can only put Nigeria in bad light before the rest of the world is not the way to go.

According to him, he stands for the rule of law and will ensure no right of any Nigerian is trampled upon.

 

 

The AGF said in the terse statement: “The bizarre drama confronting the Economic and Financial Crimes Commission (EFCC) in the course of its efforts to perform its statutory duty has come to my notice (Attorney General of the Federation and Minister of Justice) as a matter of very grave concern.

“It is now beyond doubt that the EFCC is given power by the law to invite any person of interest to interact with them in the course of their investigation into any matter regardless of status. Therefore, the least that we can all do when invited, is not to put any obstruction in the way of EFCC but to honourably answer their invitation.

“A situation where public officials who are themselves subject of protection by law enforcement agents will set up a stratagem of obstruction to the civil and commendable efforts of the EFCC to perform its duty is to say the least, insufferably disquieting. A flight

from the law does not resolve issues at stake but only exacerbates it.

 

“I state unequivocally that I stand for the rule of law and will promptly call EFCC and indeed any other agency to order when there is indication of any transgression of the fundamental rights of any Nigerian by any of the agencies but I also tenaciously hold the view that institutions of State should be allowed to function effectively and efficiently. Nigeria has a vibrant judicial system that is capable of protecting everyone who follows the rule of law in seeking protection.

 

“I therefore encourage anyone who has been invited by the EFCC or any other agency to immediately toe the path of decency and civility by honouring such invitation instead of embarking on a temporising self-help and escapism that can only put our country in bad light before the rest of the world.

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SHALINA CELEBRATES 40 YEARS OF TRUST, REITERATES COMMITMENT TO QUALITY HEALTHCARE DELIVERY IN AFRICA

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In celebration of its 40 years in Africa, a leading Afro-focused multinational company, Shalina Healthcare has reiterated its commitment to the delivery of quality healthcare in Africa. Declaring this in Lagos on Friday at the event to wrap up the company’s 2023/24 financial year and celebrate its 40 years of its existence, the Chief Commercial Officer, West Africa of the company, Arun Raj said the company “is determined to continually fulfill its corporate mission of making quality products available to every African at affordable prices.

 

According to him; ” It has been 40 years of trust in Africa and these 40 years, the people of the continent have also reciprocated the trust in our quality products and healthcare delivery.”

 

Also, in his corporate presentation as well as new financial year projection, the Head, Corporate Marketing of the Company, Folorunso Alaran said; “the Company is building on the trust Africans have in its products and services over the year and is committed to healthy Africa. It has been forty years of available, affordable and quality products for Africans.”

In the words of Mr. Nirmal Jain CEO Shalina consumer Global,

 

“At Shalina, we believe that every African must have access to good products. And for the last forty years, we have been trusted for our quality products. And more so, through our many initiatives and healthcare interventions, Shalina has continually raised the bar in healthcare delivery.”

 

Speaking further, Mr. Debajeet Mukherjee CEO Shalina Pharma Global, posited that; “despite the prevailing economic challenges, we do not waver in delivering our corporate purposes of available, affordable and quality health products. It is our belief that economic challenges should not hinder people’s access to quality healthcare. Either the economy is good or bad, it shouldn’t affect the lives of the people in an adverse way. Despite the fact that some companies are leaving Nigeria, we are expanding our team in the country. This is because we have trust and believe in Nigeria.”

 

In her own presentation at the event, the Company’s Managing Director, Nigeria , Opeyemi Akinyele said the company “is focused to become number one brand in Nigeria and continually promote the best of healthcare delivery in the country. ”

 

“Through our products, activities and interventions we have been doing greatly to ensure that quality healthcare is available and affordable for every citizen. And this is a promise that will remain unbroken ” She said.

 

Appreciating the members of staff of the company for their commitment and supporting roles in the company, Akinleye said “without you, your roles and efforts, we won’t be here and the successes recorded in the out gone year won’t be possible. We also rely on your continuous support and commitment in the new year. ”

 

Meanwhile as part of the company’s end of year activities, many staff members were given awards of excellence in different categories for 2023/24 financial year. Amongst them were Lasisi Abiodun, Best Pharma Delegate, Lawal Abubskar, Best Medical Delegate, Ruth Adesua Adewoye, Best Regional Manager Pharma, Ganiyu Lateef, Best CVD Delegate, Mercy Omoji, Best Regional Manager, Consumer, Uzuma Pascal, Best Zonal Manager, (Global) and Juliet Ngozi Edward, Best Consumer Delegate Global . Winners in other categories included Sandeep Sahu, Folorunso Alaran, Emeka Adimoha, Chiuba Nwaosu among others.

 

Shalina Healthcare which began its business in Africa in DR Congo in 1984 made entry to Nigeria 25years ago. It currently has about 2500 staffs globally out of whom 2000 are in Africa.

 

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Kano court affirms Ganduje’s suspension

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The Kano State High Court has granted an ex parte order restraining the National Chairman of the All Progressives Congress, Abdullahi Ganduje, from parading himself as a member of the party.

Subsequently, the court ordered that henceforth, Ganduje should desist from presiding over all affairs of the National Working Committee of the APC.

The application granted by Justice Usman Na’abba on Tuesday followed an ex parte motion filed by Dr. Ibrahim Sa’ad on behalf of two executive members of Ganduje’s ward, Dawakin-Tofa Local Government Area, the Assistant Secretary, Laminu Sani and Legal Adviser, Haladu Gwanjo (plaintiffs), who were part of the nine ward executives who suspended Ganduje on Monday.

The court directed the four parties (respondents) joined in the matter, including the APC, NWC, APC Kano State Working Committee, and Ganduje, to henceforth, maintain status quo ante belum as of April 15, 2024, pending the hearing and determination of the substantive suit on April 30, 2024.

Justice Na’abba, also held as prayed, stopped State Working Committee APC Kano from interfering with the legally and validly considered decision of executives of Ganduje ward, essentially on action endorsed by a two-thirds majority of the executives as provided by the party constitution.

The ex parte order read,, “An order is hereby granted directing all parties in the suit APC (first), APC National Working Committee (second), Kano State Working Committee APC (third), Dr. Abdullah Umar Ganduje (fourth), to maintain status quo ante belum as of April 15, 2024.

”The order thereby restraining the first respondent (APC) from recognising the fourth respondent (Ganduje) as a member of APC and prohibiting the fourth respondent (Ganduje) from presiding over any affairs of the NWC and restraining the state Working Committee from interfering with the legally and validly decision of the ward executives of Ganduje ward.

“That the fourth respondent (Ganduje) is prohibited from parading himself as a member of APC or doing any act that may portray him or seem to be a member of APC pending the hearing and determination of the substantive suit.”

Nine members of the Ganduje ward proclaimed the suspension of the National Chairman of the APC over the allegation of corruption slammed on him by the Kano State Government.

The nine APC executives said they were prompted to act following a petition written by one Ja’afaru Adamu, a member of the APC from the National Chairman’s polling unit.

In the petition, Adamu complained over allegations of corruption charges against the former governor just as he urged the ward leaders to investigate the matter to redeem the dented image of the party and the implication on President Bola Tinubu’s fight against corruption.

Although the chairman and secretary of the ward failed to act on the petition filed on April 8, 2024, nine members of the executives, led by the legal adviser, acted upon the petition, a decision that led to Ganduje’s suspension.

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