Dangote Cement proposes N20/share as revenue hits N1.38tn

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Dangote Cement Plc has said its commitment to environmental disclosure and sustainability has yielded desired results with the Carbon Disclosure Project which increased the company’s rating.

The Chief Executive Officer of the company, Michel Puchercos, said this in a statement yesterday in Lagos, just as the company proposed a dividend of N20 per share for 2021.

In its financial report for the full year that ended December 31, 2021, group revenue was N1.38 trillion made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, against the N1.03 trillion in 2020, translating to 33.78 per cent increase.

Group sales volume for Dangote Cement for the full year, stood at 29.3Mt, with operation in Nigeria accounting for 18.61Mt and 10.86Mt in other countries.

The company recorded a gross profit of N538.37 billion and after-tax profit of N364.44 billion, with the directors proposing a dividend of N20.00 per share.

In his statement, Puchercos said the upgrade clearly illustrates the progress made by Dangote Cement regarding commitment to transparency and mitigating its carbon dioxide footprint.

The CDP is an international non-profit organisation based in the UK, that runs a global disclosure system for investors, companies, cities, states and regions, to manage their environmental impact.

It had raised the rating as a result of the company’s commitment to climate change.

“We are pleased to be recognised by the progress we are making in our environmental disclosure and sustainability,” he said.