By Udeme Ekwere

Monday, 21 Feb 2011

Shareholders of Dangote Cement Plc have been assured of immense benefits from the company’s expansion drive.

The Special Adviser to the President of Dangote group, Mr. Joseph Makoju, who said this, noted that the increased production would lead to more revenue for the company and the shareholders would be the better for it.

A statement from the company on Saturday, quoted him as saying, “By the middle of this year, when the new lines in Obajana and Ibeshe start production, the local capacity and output will be far more than the local demand of cement and that will set the pace for exportation of our products. This will lead to increased products, more revenue for the company and better returns for the shareholders.

“The shareholders remain the ultimate beneficiaries as their investments willbenefit them through robust returns on investments policy.”

The Dangote Group, in 2010, enriched shareholders with N60.21bn as dividends from its four companies- Dangote Flour Mills Plc, Dangote Sugar Refinery Plc, Dangote Cement Plc and National Salt Company of Nigeria Plc.

The Chairman, Shareholders Trustees Association, Alhaji Muktar Muktar, attributed the improved performance of the companies to dedication to investment and competent management team.”

He said that shareholders were happy with the dividend stream of the four companies under the Dangote Group listed on the Exchange.

The statement added that with the increase in production of additional 15 million sacks per month, its sacks subsidiary, Dangote Agrosacks, was set to export its products to other African countries.

The Managing Director, Dangote Agrosacks, Mr. Chelliah Jeyaraj, said the company would further increase its production capacity by additional 15 million sacks per month in the second quarter of the year, while focusing more on customers’ satisfaction and retention.

Source: Punch