Dangote Cement Plc, Africa’s largest cement producer, has assured its shareholders of continued profitability by leveraging strategic innovations to boost investment growth. At the 14th Annual General Meeting held in Lagos, the shareholders approved a dividend payout of N340.8 billion for the financial year ending on December 31, 2022.
The Chairman of the company, Aliko Dangote, said that the management's plan was to innovate and deliver high-quality products to customers in Africa while impacting the lives of their host communities. Despite the challenging macroeconomic environment, the company achieved remarkable milestones in 2022 and recorded an increase in revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA).
The management implemented cost reduction strategies to manage inflationary pressure, enhance competitiveness and customer service delivery. The use of Alternative Fuel (AF) and Compressed Natural Gas (CNG) also helped to reduce the cost base and enhance flexibility.
Dangote Cement closed the year (2022) with a profit after tax of N382.3 billion and an Earning per Share (EPS) of N22.27, the highest in its history. The company's Chairman also revealed that Dangote Cement would continue to evolve with the changing times while embracing technological advancement.
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