By Peter OBIORA investadvocate

Oct 26 2010 15.01 GMT

Lagos (INVESTADVOCATE)-Investors of newly listed Dangote Cement Plc (DANGCEM) are to expect N5.75 Kobo final dividend payout for the 2010 Audited Year End of the Cement Company.

Alhaji Aliko Dangote, President of the Dangote Group and promoter of DANGCEM confirmed this today Tuesday 26 October 2010 at the Nigerian Stock Exchange (NSE) in Lagos Nigeria.

 

This is coming on the heels of Dangote’s earlier affirmation in the scheme of arrangement of the Cement firm that 75 percent (75%) of profit from the company will be used for dividend payment for the period.

 

Dangote made this confirmation in a Question and Answer (Q & A) session at the listing by introduction of Dangote Cement Plc.

“In terms of paying using 75% of profit to pay dividend, definitely we will do so, we will try and meet up with what we have published based on the scheme of arrangement which I think is N5.75 kobo” he affirmed.

Earlier before this time, Financial advisers to the merger, Vetiva Capital Management Limited (Vetiva) and Afrinvest West Africa Limited, (Afrinvest) had affirmed that both shareholders of Dangote Cement (formerly Obajana Cement) and Benue Cement Company (BCC) Plc will continue to enjoy dividend growth in the years ahead; taking into consideration the earnings growth profile of the post merger DANGCEM and the fact that the 75% dividend payout ratio would be sustained.”

 

The Business Mogul noted that N2.00 interim dividend has been given for the third Quarter (Q3) Unaudited Result for the period ended September 30 2010.  “We have already given N2.00 and we will try our best to meet up with what we have actually published” he said.

 

The listing of DANGCEM has added N2.1 Trillion or 25% to Nigerian’s Capital Market Capitilisation in the review period.

 

The Cement Company at the Special Sales of its shares at the Floor of the NSE sold approximately 197 million units at N135.00 per share; amounting to N26.6 billion.

 

Dangote Cement Tuesday October 26 2010 listed by introduction 15,494,019,668 billion Ordinary Shares of 50 Kobo each at N135.00 per share.

 

In year 2008, 10 billion Ordinary Shares of Dangote Sugar Plc (DANGSUGAR) was listed on the Nigeria’s Exchange at N18.00 per share; this was also followed with the listing of Dangote Flour Plc (DANGFLOUR) of 5.0 billion Ordinary Shares at N15.00 per share.