Dangote Cement Plc Announces Dividend Payment and Board Resolutions at 14th Annual General Meeting

On Thursday, April 13th, 2023, Dangote Cement Plc held its 14th Annual General Meeting at Eko Hotels and Suites, Victoria Island, Lagos. During the meeting, several important resolutions were passed.

Firstly, the audited financial statements for the year ended December 31, 2022, and the reports of the directors, auditors, and audit committee were presented to the members. Secondly, a dividend payment of N20.00 for every ordinary share was declared for all shareholders whose names were registered in the company’s register of members as of March 30, 2023.

Then the re-elections of Mr. Olakunle Alake, Mr. Emmanuel Ikazoboh, Mr. Ernest Ebi MFR, Mr. Douraid Zaghouani, and Ms. Berlina Moroole, who retired by rotation, were approved. In addition, Mr. Arvind Pathak was appointed as a director.

The board of directors then was authorized to fix the remuneration of the auditors for the 2023 financial year. Fifthly, the remuneration of the managers of the company was disclosed in compliance with section 257 of the Companies and Allied Matters Act (CAMA) 2020.

Later 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 alongside Mr. Ernest Ebi MFR and Mr. Olakunle Alake, until the conclusion of the next Annual General Meeting.

Finally, the remuneration of the chairman of five million nairas (N5,000,000) and of the non-executive directors of four million nairas (N4,000,000) each, for the year ending December 31, 2023, was approved by an ordinary resolution.

The company’s Secretary, Edward Imoedemhe Ag, signed a statement disclosing these resolutions. Dangote Cement Plc’s AGM was a success, and shareholders can expect to receive their dividend payments soon.