Gross earnings of Dangote Cement grew to N1.6 trillion in 2022, adding N2 billion over the N1.4 trillion earned in the preceding year.
The earnings growth came from the higher revenue generated from cement and clinker sales, with a significant chunk coming from the domestic market. The company’s revenue also increased by 21 percent to N1.2 trillion from N993 billion recorded for the preceding year.
While the group’s earnings per share increased by 5 percent to N22.27 billion as against the preceding year’s N22.42 billion, the company’s earnings per share increased by 6 percent to N23.87 billion as against N22.42 recorded for the preceding year.
Consequently, on the earnings growth, the shareholders of the company will share N340 billion by April 14, if it is approved at the company’s Annual General Meeting slated for April 13.
In the notice of the AGM, signed by Dangote Cement’s Acting Company Secretary, Edward Imoedemhe, the company revealed a list of unclaimed dividends, directing those affected to address their claims to the Registrars, Coronation Registrars Ltd.
The company also asked its shareholders to open bank accounts, stockbroking accounts, and CSCS accounts for receiving dividend payments electronically and also that pursuant to the provision of Section 187 of CAMA 2020, treasury shares are not entitled to dividend and voting rights.
At the 13th April AGM, the Cement company will lay its 2022 audited financial statements together with the Reports of the Directors, Auditors, and the Audit Committee thereon; declare a dividend; elect/re-elect Directors; authorise the Directors to fix the remuneration of the Auditors for the 2023 financial year; disclose the remuneration of managers of the Company and also elect shareholders’ representatives of the Statutory Audit Committee. The AGM will also consider and if thought fit, fix the remuneration of the directors.
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