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Shareholders Laud Dangote Cement’s ‘Robust Dividend’ Payment

By Dipo Olowookere

The board and management of Dangote Cement Plc have been commended for churning out positive performance in the 2017 financial year.

Speaking at the firm’s Annual General Meeting (AGM) on Wednesday in Lagos, shareholders of the cement maker said they were fortunate to be part of the business enterprise.

President of Progressives Shareholders Association of Nigeria (PSAN), Mr Boniface Okezie, said he was particularly happy with the way the company was run.

The shareholders described Dangote Cement as a very reliable company that has consistently demonstrated its love for the shareholders.

They unanimously urged the regulators to give a special award to Dangote Cement and its management for keeping faith with the shareholders.

Mr Okezie said for the company to still pay a robust dividend despite the recession in the economy, which also affected their operations, shows the doggedness and the fighting entrepreneurial spirit of the management.

“We are very happy and pleased with this result. 2017 was very tough with the recession and fluctuation in the foreign exchange market which the Chairman also said affected their operations, but despite all these challenges, the company was still able to pay us a very good dividend, better than last year, and even gave us hope of better returns on our investments in the years to come.

“This is very commendable and it is only a company like Dangote Cement that can achieve this laudable feat,” the PSAN chief said.

Another shareholders’ association leader, Mr Umar Farouk, urged the regulators to adequately compensate the management of Dangote Cement with an award as it has consistently kept faith with its shareholders.

He expressed optimism on the pan African plants, especially now that the Plants are contributing significantly to the turnover of the company.

“It is a statement of fact that we are lucky to be shareholders of this great company. If you see what our subsidiaries across Africa are contributing to the turnover, then you will understand what I am talking about.

“I am very happy and our members are upbeat for the future, knowing fully well that it will only get better,” he said yesterday.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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