Dangote Cement to Pay Chairman N5 Million, Non-executive Directors N4 Million Each in Remuneration for 2020 Financial Year

In the just-concluded Dangote Cement Annual General Meeting (AGM) held on 26 May 2021, at Eko Hotel and Suites, Victoria Island, Lagos,  shareholders agreed to pay the chairman of the company N5 million and non-executive directors N4 million each in remuneration for the 2020 financial year.

Other actions taken at the AGM meeting were as follow:

1. The Audited Financial Statements for the year ended December 31 2020 and the Reports of the Directors, Auditors and the Audit Committee were laid before the members.

2. A dividend payment of N16.00 for every ordinary share, to all shareholders whose names were registered in the Company’s Register of Members at the close of business on April 27 2021 was declared.

3. The re-elections of Mr. Emmanuel Ikazoboh, Mrs. Dorothy Ufot SAN, Mr. Devakumar V. G. Edwin, Mr. Ernest Ebi MFR and Mr. Olakunle Alake, being directors who retired by rotation, were approved, while the appointment of Ms. Berlina Moroole as a director was approved.

4. The Board of Directors was authorised to fix the remuneration of the Auditors.

5. The elections of Mr. Robert Ade-Odiachi, Mr. Sheriff Yussuf Mojirola and Mr. Nicholas Nyamali, as members of the Statutory Audit Committee were approved, to serve along with Mr. Ernest Ebi MFR and Mr. Olakunle Alake, until the conclusion of the next AGM.

6. The remuneration of the managers of the Company was disclosed.

7. The remuneration of the Chairman of Five Million Naira (N5,000,000) and of the Non-Executive Directors of Four Million Naira (N4,000,000) each, for the year ending December 31 2021 was approved by a special resolution.

8. The renewal of the Share Buyback Programme established pursuant to the resolution of the Company dated January 22, 2020 was approved by a special resolution.