Unanimously, the shareholders approved N20 per share for the
year ended December 31, 2021 as against the N16 paid in the preceding year.
This represents a 25 per cent increase in dividend compared to the 2020
dividend of N16.00 per share, reinforcing the Company’s commitment to
maximising shareholder value.
The shareholders gave their approval at the 13th Annual
General Meeting (AGM) held in Lagos. They commended the management for the
impressive performance recorded in the year under review. They also applauded
the company for its efforts in reducing unclaimed dividend of the company.
Chairman of the company, Aliko Dangote, said that “Over the
last decade, Dangote Cement has recorded exponential growth across all areas.”
According to him, Group volumes are now at almost 30Mta, our
capacity has tripled to 51.6Mta and we export cement from five countries across
Africa.
“As the volatile global environment propels us into a new
era of uncertainties, we are fortunate that the last two years have taught us
resilience, adaptability and grit. These values are what we need to face
unpredictable times in the future.
“Dangote Cement remains the leading cement company in
Africa, well-positioned for a positive and sustainable future. We are resolute
in transforming Africa, while creating sustainable value for our stakeholders.”
Dangote said in January 2022, the Company completed the
second tranche of its buy-back programme as Dangote Cement has now repurchased
0.98 per cent of its outstanding shares, saying this share buy-back programme
reflects the Company’s unwavering commitment to creating value and identifying
opportunities to return cash to shareholders.
He also noted that “We began operations in our new 3Mta
Okpella plant in Edo state in 2021, where we are successfully ramping up
production and have contributed to creating a new industrial hub.
“We are actively deploying our alternative fuel strategy
across all countries of operations, to optimise energy efficiency, reduce
reliance on fossil fuels and ultimately reduce CO2 emission. Whilst we focused
our efforts on meeting the robust demand of our local market in Nigeria, at the
expense of our export markets, we still made significant progress in our cement
and clinker exports.
“In 2021, we exported seven ships of clinker out of Nigeria
and exported cement from five of our operations. Our vision is for West and
Central Africa to be cement and clinker self-sufficient, while making the
regional and continental free trade agreements a reality.”
He added that along with the Company’s focus on strategy, it
made progress on the effectiveness and diversity of its Board with the
appointment of Ms. Halima Aliko-Dangote to the Board as a Non-Executive
Director effective 26th February 2022, bringing female Board representation to
27 per cent, from 20 per cent in 2020 in addition to the six different
nationalities and five independent non-executive directors on our Board.
He emphasised “We continue our sustainability and governance
efforts with our 7 Sustainability Pillars – ‘The Dangote Way’. The 7 Pillars:
cultural, economic, institutional, financial, environmental, operational and
social, provide the appropriate framework in which we have embedded our
corporate values and strategic objectives.”
He said “Our strategy in 2021 focused on energy transition,
which is a crucial enabler of sustainable development and climate resilience on
the continent. We have increased our focus on alternative fuels in our energy
mix. We are actively investing in installing mechanical multi-fuel systems that
can process diverse types of wastes.”
Outlook for Dangote Cement in 2022, Group Managing
Director/Chief Executive Officer of Dangote Cement, Michel Puchercos said “Our
goal to be the partner of choice for those transforming Africa, while creating
sustainable value for our stakeholders remains firm and clear.
“Despite operating in a challenging and fast-moving
environment, Dangote Cement consistently delivers superior profitability to the
shareholders. The robust demand experienced across the continent despite the
COVID-19 related challenges, confirm the powerful potential of these markets.”
Dangote Cement in the year under review achieved its highest
profit before tax in its history at N538.4 billion. Also, the Company recorded
Group volumes of 29.3Mta, up 13.8 per cent. Exceptional EBITDA of N684.6
billion was achieved, up by 43.2 per cent owing to strong cost control
measures.