Tag: dangote cement

Dangote Cement completes share buyback first tranche with 40.20m shares

Omobayo Azeez
Dangote Cement completes share buyback

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

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

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

Omobayo Azeez
Dangote Cement completes share buyback

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

Banjo Olaniran

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

Banjo Olaniran
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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