Dangote Cement becomes first Nigerian company to adopt XBRL reporting format

Dangote Cement becomes first Nigerian company to adopt XBRL reporting format

Dangote Cement becomes first Nigerian company to adopt XBRL reporting format     Dangote Cement has become the first Nigerian listed company to report its financial results using IFRS taxonomy. The largest cement manufacturer announced that its financial information has been made available to investors in eXtensible Business Reporting Language (XBRL) format using the IFRS taxonomy. XBRL enables companies standardize the preparation, publishing, and exchange of financial information in a machine-readable format. It is mainly used by publicly listed companies which are required to use it by law, such as…

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Dangote Cement considers debt funding options under 300 billion bond issuance programme

Dangote Cement Q4 2020 Results

Dangote Cement Plc has obtained approval from the board of the company to access debt funding options in the capital market. The announcement for the regulatory approval from the board was contained in a press release issued by Dangote Cement during trading hours today, the 25th of March 2021. The cement behemoth added that this will help to stimulate the company’s business growth across its operating segments, as the cement manufacturer moves to expand operations by maximizing available sources of debt funding and other options available in the capital market. In line…

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Dangote Cement pays N97bn tax as Nigerian operations pull N720bn revenue

Dangote Cement pays N97bn tax as Nigerian operation pulls N720bn revenue   Africa’s largest cement producer, Dangote Cement Plc, has remained a major contributor to the Nigerian economy, with a tax charge of N97 billion for the financial year ended December 31, 2020, even as it proposed a dividend of N16 per share. According to the company’s audited results released on the floor of the Nigerian Stock Exchange (NSE), the tax charge represents an increase of 95 per cent over the N50 billion recorded in 2019. Its Nigerian operations during…

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Dangote Cement announces N273 billion dividend for shareholders

Dangote Cement Q4 2020 Results

Dangote Cement announces N273 billion dividend for shareholders     Nigeria’s biggest public company Dangote Cement Plc said it would pay shareholders N16 for every share held in the company for the 2020 financial year, translating to a total dividend payout of N272.648 billion. This is according to a note published by the Nigerian Stock Exchange (NSE) on Friday and seen by Business Metrics. The cement maker has been paying shareholders the same dividend for the past three years. “The audited financial statements will be filed with the NSE on or before…

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Dangote Cement completes share buyback first tranche with 40.20m shares

Dangote Cement Q4 2020 Results

Dangote Cement completes share buyback first tranche with 40.20m shares   Dangote Cement Plc has announced the completion of the first tranche of its share buyback programme. According to a statement by the Deputy Company Secretary, Edward Imoedemhe, the commencement date was December 30, 2020 while completion date was December 31, 2020. Total number of shares repurchased was 40.20 million at an average price of N243 per share, representing 0.24 per cent of the company’s issued and fully paid ordinary shares while total value of shares repurchased was N9.77 billion.…

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Dangcem, MTN, Guinness, others push NSE to first weekly loss

Stock CAP slips below historical N20trn mark as investors lose N516bn

Dangcem, MTN, Guinness, others push NSE to first weekly loss   The local bourse ended the first trading week of 2021 in the red, as losses recorded on the second and last trading days eroded gains from the other trading days of the week. The loss was primarily fueled by pullbacks in the stocks of Dangote Cement, Guinness, Unilever and MTN Nigeria which declined by -8.1 per cent, -5.0 per cent, -5.0 per cent, and -2.8 per cent respectively. Accordingly, the All-Share Index (ASI) declined by 0.37 per cent week-on-week…

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Dangote Cement commences share buyback with 85.203m shares

Dangote Cement Q4 2020 Results

Dangote Cement commences share buyback with 85.203m shares Limits repurchase to 10% of issued capital Cautions investors in dealing with its shares Dangote Cement Plc (Dangote Cement or DCP) has announced the commencement of the Tranche I of its long-awaited share buyback programme. The most capitalized securities at the Nigerian Stock Company disclosed this through a filling at the bourse on Monday, giving details of the programme. Stock buybacks refer to the repurchasing of shares of stock by the company that issued them. A buyback occurs when the issuing company pays shareholders the market value per share and re-absorbs…

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Shareholders of Dangote Cement shared N1trn dividends in 7 years

Being a shareholder of Dangote Cement Plc must have been rewarding as the company disclosed that it has paid over N1 trillion as dividend to its shareholders in the last seven financial years. According to Guillaume Moyen, the company’s group financial officer, Dangote Cement had succeeded growing the wealth of its shareholders as it focused on growing the Nigerian economy over the years. A breakdown of the seven-year dividend history gleaned from the company’s financial statements indicated that N51.1 billion was paid in 2013, N119.3 billion in 2014, N102.2 billion…

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NSE admits N100bn Dangote Cement bonds

Michel Puchercos, dangote cement, NSE, bond

The Nigerian Stock Exchange has listed Dangote Cement Plc’s N100 billion, five years 12.50 per cent fixed rate series 1 senior unsecured bonds due 2025 under the N300 billion debt issuance programme. The NSE, in a statement by Godstime Iwenekhai, the Head, Listings Regulation Department, said the bonds were 100 per cent subscribed. Dangote Cement recently announced the successful issuance of N100 billion bonds, which it said was 1.5 times oversubscribed. Book building with respect to the issuance commenced on April 3, 2020 following the approval from the Securities and…

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