Monday, June 5, 2023
  • HOME
  • MARKETS & COMPANIES
  • BUSINESS & ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • ROAD TRANSPORT
    • SMEs
    • STARTUPS
    • TECH
  • INNOVATION
  • EMPIRE
  • OPINION
  • CULTURAL CURRENTS
  • FEATURES
  • AE MAGAZINE
  • CORPORATE RENDEZVOUS
Financial Street
No Result
View All Result
  • Setup menu at Appearance » Menus and assign menu to Main Navigation
Financial Street
No Result
View All Result

Dangote Cement shareholders’ equity drops by 0.78%

*Firm begs investors to claim dividends

Ehime Alex by Ehime Alex
March 24, 2021
in Front Page, Markets & Companies
0
PSN seeks special CBN forex allocation
2
SHARES
36
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsApp

Dangote Cement Plc has reported a 0.78 per cent negative drop in its shareholders’ equity for the year ended 2020.

The company’s 2020 audited financial statement released on Tuesday showed that the firm’s total shareholders’ equity dropped by N6.97bn to N890.97bn in the year under review from N897.94bn in 2019.

READ ALSO

May 25: Why Politics Matters for Africa’s Development

Governance failure kills basic services, says Ezekwesili

The company also recorded a drop in its net financial costs, which fell to N14.17bn from N50.06bn, representing 71.69 per cent decline.

Read Also:

  • Obiano celebrates children, urges parents to prioritise education
    Obiano celebrates children, urges parents to prioritise…

Further analysis on the company’s financial statement, however, showed that it reported a rise in its Profit Before Tax by 49.04 per cent to N373.31bn from N250.48bn in 2019.

Profit After Tax also increased by 37.68 per cent to N276.07bn from N200.52bn in the review year.

The company’s basic earnings per share also increased by 36.90 per cent to N16.14 in 2020 relative to N11.79 in 2019. Its revenue increased by 15.98 per cent to N1.034tn from N891.67bn in 2019.

Meanwhile, having declared N16 final dividend, Dangote Cement is begging its shareholders to lay claims on the company’s unclaimed dividend, which rose to N4bn by the end of 2020.

Nigeria’s most capitalised company made the call in its 2020 financial report.

Dangote on Tuesday declared a dividend of N16 ordinary 50 kobo share, a development that triggered a N4 jump of its share price to N224 per share in less than 24 hours.

Nigerian government has a new policy of borrowing dividend, which has remained unclaimed for six years.

With the Finance Act 2020, any unutilised amount in a dormant bank account maintained in or by a Deposit Money Bank would also be borrowed.

The funds would be managed by the Debt Management Office through the Unclaimed Dividend Trust Fund, the government said.

In 2020 alone, the cement manufacturer said its unclaimed dividend grew by N500m to N4bn, an increase from the N3.5bn unclaimed dividend held in 2019.

Tags: Dangote CementdividendsShareholders' equity

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Ehime Alex

Ehime Alex

Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

Related Posts

May 25: Why Politics Matters for Africa’s Development
Front Page

May 25: Why Politics Matters for Africa’s Development

May 26, 2023
failure
Front Page

Governance failure kills basic services, says Ezekwesili

April 28, 2023
Ezekwesili
Front Page

Oby Ezekwesili: The joys of sacrifice

April 25, 2023
Muslim
Front Page

Obiano felicitates with Muslims, urges unity among Nigerians

April 21, 2023
Journey
CONSUMER PERSPECTIVE

Journey so far

April 12, 2023
Bank
CONSUMER PERSPECTIVE

Are digital banks in Nigeria to stay?

April 12, 2023
Next Post
Truckers give NPA one week to fix Eto issues

Truckers give NPA one week to fix Eto issues


Naira4Dollar Rates
ADVERTISEMENT

RECENT STORIES

Obiano celebrates children, urges parents to prioritise education

Obiano celebrates children, urges parents to prioritise education

May 31, 2023
May 25: Why Politics Matters for Africa’s Development

May 25: Why Politics Matters for Africa’s Development

May 26, 2023
celebrates

Technocracy: Roadmap to successful Nigerian economy

May 19, 2023
failure

Governance failure kills basic services, says Ezekwesili

April 28, 2023
foreign

Eminent Nigerians, foreigners to honour Ezekwesili at birthday symposium

April 26, 2023
Ezekwesili

Oby Ezekwesili: The joys of sacrifice

April 25, 2023
Muslim

Obiano felicitates with Muslims, urges unity among Nigerians

April 21, 2023

TRENDING

  • naira devaluation

    What naira devaluation means for Nigeria’s economy

    0 shares
    Share 0 Tweet 0
  • Impact of fintech on Nigerian economy

    0 shares
    Share 0 Tweet 0
  • Why Nigerian consumers prefer foreign goods

    0 shares
    Share 0 Tweet 0
  • Why big and small businesses are turning to digital marketing

    5 shares
    Share 5 Tweet 0
  • NGOs: Encouraging vocational training beyond formal education

    4 shares
    Share 4 Tweet 0
Financial Street

© Financial Street 2021. All Rights Reserved.

More Links

  • Privacy Policy
  • Terms of Use
  • Contact Us

Follow Us

No Result
View All Result
  • HOME
  • MARKETS & COMPANIES
  • BUSINESS & ECONOMY
    • AGRO-ECONOMY
    • AVIATION
    • BRANDS
    • CONSUMER GOODS
    • ECONOMY
    • ENERGY
    • ENVIRONMENT
    • FINANCIAL INCLUSION
    • INSURANCE & PENSIONS
    • INVESTMENT
    • MANUFACTURING
    • MARITIME
    • MONEY
    • MSMEs
    • PRODUCT REVIEW
    • ROAD TRANSPORT
    • SMEs
    • STARTUPS
    • TECH
  • INNOVATION
  • EMPIRE
  • OPINION
  • CULTURAL CURRENTS
  • FEATURES
  • AE MAGAZINE
  • CORPORATE RENDEZVOUS