Dangote Cement’s share buyback has been approved by shareholders.

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Dangote Cement shareholders unanimously authorized the company’s management to conduct a share buyback of up to 10% of its issued shares, effective from the date of the resolution.

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

This represented a 25% increase in dividends over the 2020 dividend of N16. 00 per share, reinforcing the Company’s commitment to increasing shareholder value.

Dangote Cement achieved its highest profit before tax in history in the fiscal year under review, totaling N538.4 billion. Furthermore, the Company reported Group volumes of 29.3Mta, up 13.8 per cent.

Sunnews

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