Dangote Cement Proposes ₦20/Share As Revenue Hits ₦1.38tn

The company disclosed this in a statement released on Tuesday through its Chief Executive Officer, Michel Puchercos.

TrackNews reports that the CEO while speaking on Tuesday in Lagos, said the company’s commitment to environmental disclosure and sustainability yielded desired results last year with the Carbon Disclosure Project which increased the company’s rating.

As revealed in the company’s financial report for the full year that ended December 31, 2021, it recorded revenue worth N1.38 trillion made up of N993.34 billion from Nigeria while revenue from across African plants was N397.32 billion, against the N1.03 trillion in 2020, translating to 33.78 per cent increase.

Group sales volume for Dangote Cement for the full year, stood at 29.3Mt, with operation in Nigeria accounting for 18.61Mt and 10.86Mt in other countries.

The company recorded a gross profit of N538.37 billion and an after-tax profit of N364.44 billion, a development that prompted the proposed dividend of N20.00 per share.

Puchercos had noted in the statement that the upgrade clearly illustrates the progress made by Dangote Cement regarding commitment to transparency and mitigating its carbon dioxide footprint.

The CDP is an international non-profit organisation based in the UK, that runs a global disclosure system for investors, companies, cities, states and regions, to manage their environmental impact.

It had raised the rating as a result of the company’s commitment to climate change.

While expressing his satisfaction with the company being recognised for its progress, Puchercos said the cement company was focusing on making a positive difference, which is why sustainability is at the core of every part of its business.

He said that their alternative fuel project which aimed at leveraging waste management solutions, reducing CO2 emissions, and sourcing materials locally, was at an advanced stage.

“We co-processed 89,000 tons of waste representing a 60 per cent increase over that of 2020,” Puchercos said.