Dangote Cement to Pay Shareholders N16 Dividend

By Dipo Olowookere

Shareholders of Dangote Cement Plc will receive the payment of N16 for each of the company’s stocks in their possession as at the close of business of Monday May 25, 2020. The cash reward is for the 2019 financial year ended December 31, 2019.

In a notice to the Nigerian Stock Exchange (NSE) today, the board said the payment was subject to the appropriate withholding tax and approval of the shareholders.

This authorisation would be sought for at the Annual General Meeting (AGM) fixed for June 16, 2020 at the Eko Hotel and Suites, Victoria Island, Lagos at 11am.

Dangote Cement said after the qualification date for the dividend payment, the register of members would be closed on May 26, 2020, while payment would be done on June 16, 2020.

“Dividends will be paid electronically to shareholders whose names appear in the register of members as at May 25, 2020 and who have completed the e-dividend registration and mandated the registrar to pay their dividends directly into their bank accounts,” the notice said.

Dangote Cement urged shareholders who are yet to complete their e-dividend registration to download and complete the registrar’s E-Mandate Activation Form, which it said is available on the company’s website at www.dangotecement.com and the registrar’s website on www.unitedsecuritieslimited.com, and submit to the registrar or their respective banks.

The cement maker further advised shareholders with dividend warrants and share certificate that have remained unclaimed, or are yet to be presented for payment or returned for validation to complete the e-dividend registration or contact the registrar.

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. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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