Dangote Cement posts bumper profit, dividend

Dangote Cement posts bumper profit, dividend

Tuesday, March 1, 2016 3:38 pm

 If one was wondering why Dangote Cement created a huge excitement at the Nigerian Stock Exchange on Monday, the African leading cement conglomerate provided the clue as it released its audited account for 2015.

All indices went northwards. Revenue went up 25.6 percent to 491.7 billion naira. Earning per share jumped 15.2 percent to 10.86 naira. So was the dividend.

It increased by 33.3 percent to 8 naira per share at 73.7 percent payout ratio. Payment will be made to shareholders on 21 April, , with the register closed 11 April.

Full year profit before tax was reported to be 188.3 billion naira against 184.7 billion naira earned a year ago.

And there are indications that shareholders may be in for greater cheers next year. January sales volumes rose by 77.6% to 2.0mt, with Nigerian sales volumes rising 46.4% to 1.4MT, compared to less than 1.0MT in January 2015.

Also February 2016 sales volumes were 38% ahead of Feb 2015, with sales volumes in Nigeria up 60% to more than 1.5MT.

The stock closed today at N148.00 from N141 yesterday.

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