Dangote Cement Shareholders Get N16 Dividend As Moyen Becomes New CFO

GBOLABO AFUWAPE

Dangote cement has announced N16 per 50 Kobo share to its shareholders for 2018 full year dividend.

The company made the disclosure on Thursday following the release of its 2018 full year audited reports.

Moyen, an accomplished strategic professional leader with over 20 years experience in supporting investors and senior executive teato successfully position the organization to seize profitable long term opportunities in mature, emerging and frontier markets.

Dangote cement’s audited financial report which was released on Wednesday showed that its Profit Before Tax (PBT) improved to N300.8 billion in 2018 from N289.6 billion recorded in 2017 representing a 91.1 percent growth, with the company getting a tax credit of N89.5 billion during the fiscal year to shoot its PAT to N390.2 billion in 2018.

In the year, the revenue generated by the company improved by 11.9 percent to N901.2 billion from N805.6 billion achieved in the 2017 financial year.

Dangote Cement said in the 2018 FY, its production cost of sales increased to N383.3 billion from N351.3 billion, while the administrative expenses gulped N52.5 billion in the year against N45.3 billion a year earlier.

Furthermore, the sum of N136.9 billion was spent on selling and distribution expenses in 2018 fiscal year versus N109.9 billion expended in the 2017 FY.

The board said profit from operating activities was N338.7 billion in 2018 versus N304.2 billion in 2017. In addition, the finance costs declared by the firm was N49.8 billion against N52.7 billion a year earlier.

Its balance sheet in the report showed that while the total assets stood at N1.694 trillion against N1.666 trillion, the total liabilities reduced to N707.9 billion from N781.4 billion.

The earnings per share (EPS) of Dangote Cement stood at N22.83k in 2018 FY against N11.65k in FY 2017.