Dangote enriches shareholders with N76.24bn
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- Category: Business
- Written by Kayode Ekundayo, Lagos
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Dangote Group has enriched shareholders under its companies with N76.24 billion as dividend this year.
Specifically, the wealth of investors in the Dangote Group of companies listed on the Nigerian Stock Exchange (NSE), swelled last week as Dangote Flour Mills paid a dividend of N1.9 billion for the year ended, December 31, 2010.This brought the total dividend paid by the four companies in the group which have so far declared their result for the 2010 financial year to N 76.24 billion compared to N60.21billion paid as dividends in 2009.
The total dividend paid out by the Dangote companies become more significant against the background of the fact that many quoted companies could hardly make profit owing to the harsh economic and operating environment.
Listed members of the Dangote group, the biggest business conglomerate in sub-Saharan Africa, which have since declared profits in its 2010 business year are Dangote Flour Mills Plc, Dangote Sugar Refinery Plc, Dangote Cement Plc and National Salt Company of Nigeria Plc (NASCON).
Going by the annual reports and accounts of the listed companies, Dangote Cement paid N 65.84 billion, Dangote Sugar paid N7.2 billion, while NASCON paid out N 1.3 billion dividend.
Excited shareholders showered praises on the management of the companies under the group for rewarding them bountifully despite the economic downturn in the capital market. Chairman of Shareholders’ Trustees Association of Nigeria, Alhaji Mukhtar Mukhtar, described the dividend payout as remarkable given that most companies are unable to do so as a result of unfavorable investment climate in Nigeria. Said he: “we are encouraged by Alhaji Aliko Dangote.
In addition to this, his companies have been creating jobs and feeding Nigerian families. Nigerians should emulate him.”
Another shareholder said “we are very pleased with the performance of member companies of the Dangote Group on the NSE.
The performance of these companies is a delight to shareholders proving that with good management, any company can excel.
”He added that at a period when banks are not paying dividends, while those paying are only offering miserly amounts, the four companies under the group have done well for the shareholders.
Addressing shareholders of Dangote Flour Mills weekend in Kano, Chairman of the company, Alhaji Aliko Dangote, said that the board and management would continue to work hard so as to deliver improved returns to shareholders.
Articles
Dangote enriches shareholders with N76.24bn
Category: Business Written by Kayode Ekundayo, Lagos Hits: 1046
Dangote Group has enriched shareholders under its companies with N76.24 billion as dividend this year.
Specifically, the wealth of investors in the Dangote Group of companies listed on the Nigerian Stock Exchange (NSE), swelled last week as Dangote Flour Mills paid a dividend of N1.9 billion for the year ended, December 31, 2010.This brought the total dividend paid by the four companies in the group which have so far declared their result for the 2010 financial year to N 76.24 billion compared to N60.21billion paid as dividends in 2009.
The total dividend paid out by the Dangote companies become more significant against the background of the fact that many quoted companies could hardly make profit owing to the harsh economic and operating environment.
Listed members of the Dangote group, the biggest business conglomerate in sub-Saharan Africa, which have since declared profits in its 2010 business year are Dangote Flour Mills Plc, Dangote Sugar Refinery Plc, Dangote Cement Plc and National Salt Company of Nigeria Plc (NASCON).
Going by the annual reports and accounts of the listed companies, Dangote Cement paid N 65.84 billion, Dangote Sugar paid N7.2 billion, while NASCON paid out N 1.3 billion dividend.
Excited shareholders showered praises on the management of the companies under the group for rewarding them bountifully despite the economic downturn in the capital market. Chairman of Shareholders’ Trustees Association of Nigeria, Alhaji Mukhtar Mukhtar, described the dividend payout as remarkable given that most companies are unable to do so as a result of unfavorable investment climate in Nigeria. Said he: “we are encouraged by Alhaji Aliko Dangote.
In addition to this, his companies have been creating jobs and feeding Nigerian families. Nigerians should emulate him.”
Another shareholder said “we are very pleased with the performance of member companies of the Dangote Group on the NSE.
The performance of these companies is a delight to shareholders proving that with good management, any company can excel.
”He added that at a period when banks are not paying dividends, while those paying are only offering miserly amounts, the four companies under the group have done well for the shareholders.
Addressing shareholders of Dangote Flour Mills weekend in Kano, Chairman of the company, Alhaji Aliko Dangote, said that the board and management would continue to work hard so as to deliver improved returns to shareholders.