By Opeyemi Issa InvestAdvocate
Lagos (INVESTADVOCATE)- Lafarge Wapco Cement Nigeria Plc Friday increased its dividend payout to investors of the Company by 275 percent (275%) in its Audited Year Ended December 31 2011.
From the Result Announcement declared on the Floor of the Nigerian Stock Exchange (NSE) in Lagos Nigeria, Lafarge Wapco has proposed to pay its shareholders a 75 Kobo dividend in 2011 end compared to 20 Kobo paid in 2010 year end; indicating an increase of 275% in the review period.
Lafarge Wapco in its Corporate Actions to the Nigeria’s Exchange said closure of Register of shareholders in its Record who would benefit from the dividend payout is 7th-11th May 2012 and payment date has been scheduled for May 23 2012 after the Company’s Annual General Meeting (AGM) to be held on the same May 23 2012.
A review of the Company’s Audited Report for the period December 31 2011 shows that Profit After Tax (PAT) grew by 74.3% as the Company posted N8.509 billion in 2011 end compared to N4.881 billion recorded in 2010.
Profit Before Tax (PBT) also increased from N8.464 billion in year 2010 end compared to N10.219 billion in the review period of year 2011; indicating an increase of 20.7%.
Turnover also increased by 42.6% in year 2011 end as Lafarge Wapco recorded N62.502 billion compared to N43.841 billion in year 2010.
Also, the Nigeria’s Exchange Weekly Report indicates that the Lafarge Wapco’s Net Asset value stood at N56.050 billion in the review period of year 2011 compared to N48.291 billion in year 2010 end; representing an increase of 16.1%.
In the same vein, the Company on Thursday March 22 2012 notified the Nigeria’s Exchange that it has appointed a new Director to its Board.
The new Director is in the person of Jean-Carlos Angulo.
Angulo is a graduate of Ecole des Mines de Nancy (France) and the European Institute for Business Administration.
He began his career as a Project Engineer in the aerospace industry at the Societe Europeenne de Propulsion (SEP) where he was from 1971 to 1974. He joined Lafarge in 1975, where he was successively Project Manager and Project Director in Group engineering subsidiaries (plant construction). He later became the General Manager of Lafarge Consulteria e Estudos in Brazil. In 1984, he joined Lafarge Aluminates as Head of Development.
Mr. Carlos Angulo was General Manager of Lafarge’s Brazil operations and head of the Southern region of Latin America from 1990 to 1996. He was appointed the General Manager of Lafarge Cements in France 1996. Jean Carlos Angulo was President of the Cement business’s operations in Western Europe and Morocco between 2000 to August 2007.
He is presently Lafarge Group Executive Vice President.
