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Dangote Cement Shareholders Unanimously approve a 10% share Buy-back Programme

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Non-Executive Director, Dangote Cement Plc, Halima Aliko-Dangote; Chairman, Dangote Cement Plc, Aliko Dangote;  Group Managing Director, Dangote Cement Plc, Michel Puchercos; and Non-Executive Director, Dangote Cement Plc, Olakunle Alake at the Extraordinary General Meeting of Dangote Cement Plc, held in Lagos on December 13, 2022.

 

 

 

Shareholders of Dangote Cement, unanimously on Tuesday authorised the Management of the company to undertake a share buyback of up to 10 percent of its issued shares, effective from the date of the resolution.

The company had earlier indicated an interest in undergoing a share buyback programme, in respect of up to 10 percent of its issued shares, for the purpose of improving the company’s return on equity and its shareholders’ value, so as to facilitate the future long-term growth of the company.

The approval through voting, which was given at the company’s Extraordinary General Meeting, held in Lagos recorded a 100 percent approval from the shareholders, with many of them describing the exercise as very laudable and a win-win situation for them.

 

Among other resolutions, the shareholders authorised that the “Memorandum and Articles of Association of the company be amended (as applicable), upon completion of the share buyback, to reflect the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.”

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The Board was also authorised to ensure that the amendment of the Articles of Association of the company reflects the company’s share capital, following the cancellation (if any) of the shares acquired and/or otherwise held by the company.

 

It would be recalled that the Shareholders, at the company’s recent 13th Annual General Meeting (AGM), also commended the Management of the company for an impressive performance despite the economic challenges in the year under review.

 

Unanimously, they approved N20 per share for the year ended December 31, 2021, as against the N16 paid in the preceding year. That represented a 25 per cent increase in dividend compared to the 2020 dividend of N16.00 per share, reinforcing the Company’s commitment to maximising shareholder value. They also applauded the company for its drive in reducing unclaimed dividends of the company.

 

Dangote Cement in the year under review achieved its highest profit before tax in its history at N538.4 billion. Also, the Company recorded Group volumes of 29.3Mta, up 13.8 per cent. Exceptional EBITDA of N684.6 billion was achieved, up by 43.2 percent owing to strong cost control measures.

 

Chairman of the company, Aliko Dangote, said that “Over the last decade, Dangote Cement has recorded exponential growth across all areas.” According to him, “Group volumes are now at almost 30Mta, our capacity has tripled to 51.6Mta and we export cement from five countries across Africa.”

 

“As the volatile global environment propels us into a new era of uncertainties, we are fortunate that the last two years have taught us resilience, adaptability, and grit. These values are what we need to face in unpredictable times in the future.

 

“Dangote Cement remains the leading cement company in Africa, well-positioned for a positive and sustainable future. We are resolute in transforming Africa while creating sustainable value for our stakeholders,” Dangote added.

 

 

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School Abductions: NUT Begins Nationwide Rally Today

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By Yusuf Danjuma Yunusa

Public schools across Oyo State shut down Monday as teachers joined a nationwide protest called by the Nigeria Union of Teachers over the ongoing captivity of pupils and teachers abducted 18 days ago.

Armed men attacked three schools in Oriire Local Government Area on May 15, taking students and teachers from Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School.

Protests erupted in Oyo and Ogun states, with residents and civil society groups demanding immediate release of the victims.

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In Ogbomoso, a distraught mother whose children were among the kidnapped broke down in tears: “Where will I start from? The children are my tomorrow. Please help me.”

Teacher Ajibola Aboderin said: “How can anyone be so heartless as to kidnap a two-year-old? This country is deteriorating.”

Compliance with the strike was reported across all 33 local government areas of Oyo State. Parents turned children away from closed schools.

The union calls on federal and state governments to intensify security efforts and secure the captives’ release.

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Press centre Food Vendor Hajiya Hadiza Is Dead

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The Kano press community has been thrown into mourning following the death of Hajiya Hadiza, a popular food vendor.

Known for her warm personality and dedication to her business, Hajiya Hadiza reportedly passed away on Monday morning after a brief illness.

News of her death spread rapidly across the Press Centre, and environs on Monday, leaving many journalists, media workers and associates in shock.

Colleagues described the development as devastating, saying her absence would be deeply felt within the media community after nearly two decades serving meals to media practitioners and members of the public .

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For years, Hajiya Hadiza’s food stand was more than a place to eat. It served as a meeting point where reporters, editors and guests gathered for meals, conversations and moments of relaxation amid their demanding schedules.

Beyond her role as a food vendor, she was widely recognized for providing employment opportunities to young women, many of whom learned valuable skills and earned a livelihood through her business.

Several journalists who spoke on the development recalled her kindness, generosity and motherly disposition. They noted that she treated customers with respect and maintained strong relationships with people from different walks of life.

Members of the NUJ Press Centre described her as an integral part of the environment, saying her contributions over the years helped shape the social fabric of the press community. They prayed for Almighty Allah to forgive her shortcomings and grant her eternal rest.

As tributes continue to pour in, many say Hajiya Hadiza’s legacy will endure through the countless lives she touched, the young women she empowered and the memories she created among generations of journalists who passed through the Press Centre.

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2027: Over 1,500 Gombe Indigenes at KEDCO Endorse Dr. Jamil Isyaku Gwamna for Governor.

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In a major show of confidence and grassroots support, over 1,500 indigenes of Gombe State currently working at the Kano Electricity Distribution Company (KEDCO) have unanimously endorsed the gubernatorial candidate of the All Progressives Congress (APC) in Gombe state, Dr.Jamil Isyaku Gwamna, for the 2027 governorship election.

The group, comprising staff across various departments and ranks within KEDCO, organised a solidarity event to appreciate Dr. Gwamna and reaffirms their unwavering commitment to his candidacy and vision for the future of Gombe State.

The endorsement carries profound significance, as Dr. Gwamna is widely credited with securing employment opportunities for over 1,500 Gombe indigenes during his tenure at KEDCO—an intervention described by beneficiaries as transformative and life-changing.

The event was attended by the Managing Director of KEDCO, Dr. Abubakar Shuaibu Jimeta, who joined virtually from Saudi Arabia, where he is currently performing Hajj pilgrimage. Notably, Dr. Jimeta is among those whose careers were positively impacted under Dr. Gwamna’s leadership.

Speaking on behalf of the group, the KEDCO staff expressed deep appreciation for Dr. Gwamna’s visionary leadership, particularly highlighting his role in creating employment opportunities that have shaped their lives and careers.

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They described his intervention as a “life-changing opportunity” that has not only transformed their personal circumstances but also uplifted their families and communities across Gombe State.

“We are here to stand firmly behind a leader who invested in our future. Dr. Gwamna is a man of vision, compassion, and proven capacity. We are fully committed to supporting him until he emerges victorious in 2027. Not only us, but our relatives, families and well wishers are with and will support you hundreds percent,” the group stated.

The staff further emphasized that Dr. Gwamna remains the most qualified candidate to sustain and build upon the developmental strides of the current Governor of Gombe State, Muhammadu Inuwa Yahaya, CON, particularly in infrastructure, economic growth, and human capital development.

In his response, Dr. Gwamna, who almost broke into tears, expressed profound gratitude, visibly moved by the show of loyalty and appreciation.

He noted with pride that many of the beneficiaries of his interventions have risen through the ranks to occupy strategic positions, including managerial and senior administrative roles within KEDCO.

“Seeing you all today fills my heart with joy. This is a testament to the power of opportunity and the importance of investing in people. I am proud of what you have all become.

Dr. Gwamna commended their dedication and urged them to continue contributing meaningfully to the growth and stability of KEDCO, while serving as worthy ambassadors of Gombe State wherever they found themselves.

He reiterated his commitment to inclusive governance, stressing that his administration, if elected In sha Allah, will prioritize job creation, youth empowerment, and sustainable development.

“My doors remain open to all individuals and groups willing to partner for the progress and prosperity of our dear state. Together, we will build a future of opportunity, unity, and shared success,” he added.

The event attracted a wide range of stakeholders, including clerics, business leaders, politicians, and party officials, further underscoring the growing support base of Dr. Gwamna ahead of the 2027 governorship election.

 

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