Alhaji Aliko Dangote
Shareholders of Dangote Cement Plc (DCP) are to reap a double for the year ended December 31, 2011, as the company has recommended the payment of cash dividend and bonus issue.
The company will pay a cash dividend of N19.37 billion, which translates into N1.25 per share. Also, the directors recommended a bonus issue of one new share for every one already held.
According to the company’s financial statement released on the floor of the Nigerian Stock Exchange (NSE) yesterday, a turnover of N235.70 billion was recorded compared with N202.57 billion indicating a 16 per cent growth.
Profit before tax rose by 14.6 per cent to N139.08 billion to N121.28 billion while retained profit surged from N105.32 billion to N125.48 billion.
Chairman of the DCP, Alhaji Aliko Dangote, had recently assured the shareholders of good returns on their investments, stating that the significant contributions of the new line in Obajana and inauguration of the six million metric tons Ibese Cement plant would positively affect the company’s turnover and ultimately, returns on shareholders investments.
Meanwhile, the Central Securities Clearing System Limited (CSCS), yesterday laid off some of its members of staff.
Although the number of employees affected by the exercise was not disclosed, CSCS explained that it was in line with a new business strategy, which was approved by its board and would position the firm as a highly innovative and globally respected Central Securities Depository(CDS).
“To realise this vision, mission and core values of the company it has become imperative to strengthen its new product development and customer interfacing units and personal to meet current company and market place realities. In line with these initiatives, the board approved the rightsizing of CSCS workforce, which has been implemented as part of the an overall turnaround strategy aimed at positioning the company to remain viable as a business in a dynamic and fast paced market place,” CSCS said.
According to the firm, it regards its employees as its most valuable assets and thus views this exercise as an opportunity to enhance the organisation’s medium-term and long term agility through well-planned and targeted coaching and other career management interventions which are already being implemented across the company.
Trading at the stock market remained bullish as the Nigerian Stock Exchange (NSE) All-share Index rose by 0.41 per cent to close at 20,934.47, while market capitalisation ended higher at N6.64 trillion.
Twenty-three stocks appreciated while 17 depreciated. Investors traded 229.019 million shares worth N2.068 billion in 3,349 deals.