94
REPORT OF THE DIRECTORS
Results for the year
Group revenue increased by 25.1% to ₦615.1B
(2015:₦491.7B). Operating profit was ₦182.5B
(2015: ₦207.8B). Net profit for the year was ₦186.6B
(2015: ₦181.3B).
Earnings per share increased by 4.5% to ₦11.34
(2015: ₦10.86)
Dividends
The Directors pursue a dividend policy that reflects the
Company’s earnings and cash flow, while maintaining
appropriate levels of dividend cover. They take into
account the capital needed to fund the Company’s
operations and expansion plans. For the 2016 financial
year, the Directors have recommended a dividend of
₦8.5 per ordinary 50 kobo share (2015: ₦8.0).
The final dividend, if approved by shareholders at the
Annual General Meeting on 24th May 2017, will be paid
on 26th May 2017 to shareholders listed on the register
as at the close of business on 12th May 2017.
The Board considers that the proposed dividend
level is appropriate and is in line with the Company’s
strategic growth plans.
Unclaimed dividends
The total amount outstanding as at 31st December, 2016
is ₦1,652m. A list of unclaimed dividends is available on
the Company’s website: www.dangotecement.com.
As at 31st
Director
Aliko Dangote
Olakunle Alake
Devakumar Edwin
Ernest Ebi
Emmanuel Ikazoboh
Olusegun Olusanya
Joseph Makoju
Abdu Dantata
Sani Dangote
Fidelis Madavo
Douraid Zaghouani
Onne van der Weijde
Dorothy Ufot
94
Annual Report 2016
December 2015
27,642,637
4,931,702
2,000,000
0
40,000
16,313
11,000
2,500,000
0
0
0
0
0
The Company notes that some dividend warrants have
either remained unclaimed, are yet to be presented for
payment by shareholders, or have been returned to the
Company for revalidation.
Therefore, all shareholders with “unclaimed share
certificates” or “unclaimed dividends” should address
their claim(s) to the Registrars, United Securities or
to the Company Secretary at the registered office
address.
Members are encouraged to notify the Registrars or
the Company Secretary of any changes in address or
other relevant information, and take advantage of the
E-dividend by completing the form included on page
219.
Directors
As at the date of this report, Dangote Cement has 13
Directors, all of whom held office in the year ended
31st December, 2016. Their biographies are contained
on pages 86 to 89 and are incorporated into this report
by reference.
The appointment,
removal or reappointment
of
Directors is governed by the Company’s Articles of
Association and Companies and Allied Matters Act
(CAMA) LFN 2004. These Documents also set out the
rights and obligations of Directors.
Ordinary shares of 50 kobo each
As at 31st
December 2016
27,642,637
4,931,702
2,000,000
100,000
74,352
16,313
11,000
8,680
0
0
0
0
0
As at 27th
February 2017
27,642,637
4,931,,702
2,000,000
100,000
74,352
16,313
11,000
8,680
0
0
0
0
0
95
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