Business

Dangote Cement increases dividend payout by 50%

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The Board of Directors of Dangote Cement has declared a final dividend of N30 to shareholders for the year ended 31 December 2023.

Qualification date for the proposed dividend is on Monday, April 15, 2024. The Register of Shareholders will be closed on Tuesday, April 16, 2024. Payment date is Friday, May 31, 2024.

The Cement Manufacturer achieved a turnover of N2.208 trillion for the 12 months period, up by 36.44% from N1.618 trillion reported the previous year.

Profit after tax of N455.583 billion was reported for the year under review, up by 19.17% from N382.311 billion reported in 2022 year end.

Earnings per share of Dangote Cement stands at N26.74.

At the share price of N686.7, the P/E ratio of Dangote Cement stands at 25.69x with earnings yield of 3.89%.

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