Business

Dangote Cement’s N144.8bn dividend delights shareholders

Published

8 years ago

May 25, 2017

Shareholders of Dangote Cement on Wednesday were full of praise for the Board, Management and staff of the company after approving the dividend payout of N144.8 billion, which translated to N8.50 kobo per share as against N8 per share, that was paid in the corresponding period of 2015.

Speaking at the company’s annual general meeting (AGM), held in Lagos, President of Amiable Shareholders Association of Nigeria, Festus Akano said the shareholders were pleased with Aliko Dangote and his team. He said for the company to still pay a robust dividend despite the recession in the economy, which also affected their operations shows the doggedness and the fighting entrepreneurial spirit of the Management.

According to him: “We are very happy and pleased with this result. 2016 was very tough with the recession and fluctuation in the foreign exchange market which the Chairman also said affected their operations, but despite all these challenges, the company was still able to pay us a very good dividend, better than last year, and even gave us hope of better returns on our investments in the years to come. This is very commendable and it is only a company like Dangote Cement that can achieve this laudable feat.”

Chairman of the company, Aliko Dangote while presenting the reports to the shareholders said the company’s strategy in every country of operations is to be the leader on costs, quality and service. He said the company build large, modern, highly efficient plants that combine the latest equipment from Europe, China and beyond to enable it make higher-quality cement at lower costs, thereby giving it strong competitive advantages.

According to him: “Looking back at the 2016 financial year, I am pleased to report that our cement sales volumes increased by 25.0 per cent to nearly 23.6Mt. Of this, almost 14.8Mt was sold in the Nigerian market. Revenues increased by 25.1 per cent to ₦615.1B, of which 68.3 per cent was generated in Nigeria (excluding eliminations) and 31.7 per cent from Pan-African operations. Our earnings before

interest, depreciation and amortisation (EBITDA) decreased only slightly, to ₦257.2 billion, with Pan-African operations contributing ₦26.5 billion, excluding central costs. Earnings per share increased by 4.5 per cent to₦11.34.

As I have already stated, the Board proposes a dividend of ₦8.5 per 50 kobo share, subject to your approval, to be paid on 26th May 2017 to shareholders”

Another shareholder, Akin Akinwumi, from the Progressive Shareholders Association urged the Management to give a bonus and a better dividend in this 2017. He said, the company should do all within its power to give bonus issue.

He said: “We thank the Management for giving us this dividend but we are appealing so strongly that bonus issue should also be considered. For some of us, we prefer a bonus to this dividend and we know it can be done.”

He expressed optimism on the pan African plants, especially now that the Plants are contributing significantly to the turnover of the company. “It is a statement of fact that we are lucky to be shareholders of this great company. If you see what our subsidiaries across Africa is contributing to the turnover, then you will understand what I am talking about. I am very happy and our members are upbeat for the future, knowing fully well that it will only get better.”

Group Chief Executive Officer of the company, Onne van der Weijde, revealed that the expansion strategy of the company yielded fruits last year when Nigeria was in recession as the Plants across Africa contributed significantly to the company’s turnover.

He said: “… We can see how that strategy has helped us in a time that our main market of Nigeria is facing a recession, high inflation, lower consumer spending and a shortage of foreign currency to fund essential imports. But outside of Nigeria we’ve had operations that have now been running for more than a year and they are experiencing good growth and improving profitability, so we have managed to offset some of those topline pressures in Nigeria with revenue streams from countries in very different parts of the continent. Furthermore, those Pan-African operations are helping to generate foreign currency for the Group, so this shows how a long-term decision to diversify can help with a short-term pressure like an illiquid currency market in Nigeria”

Bank

Fidelity Bank Plc Wins 2025 DBN Innovation Award for MSME Support

Published

2 hours ago

May 28, 2025

Sahara Weekly

Fidelity Bank Plc Wins 2025 DBN Innovation Award for MSME Support

In recognition of its exceptional contributions to innovative financial solutions for Micro, Small, and Medium Enterprises (MSMEs), Fidelity Bank Plc has been awarded the 2025 Development Bank of Nigeria (DBN) Innovation Award in the Deposit Money Bank (DMB) category.

This prestigious accolade celebrates Fidelity Bank’s commitment to addressing the unique challenges faced by MSMEs, a vital segment in Nigeria’s economic growth.

Dr. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, commented on the award, reaffirming the bank’s dedication to empowering Nigerian entrepreneurs: “At Fidelity Bank, innovation is at the heart of our strategy to support MSMEs. This recognition underscores our commitment to developing scalable, inclusive, and technology-driven financial solutions that create positive outcomes for our nation’s entrepreneurs. We are honored to receive the DBN award and dedicate it to our loyal customers for their continued support.”

The award was presented at the 2025 Service Ambassadors’ Awards ceremony in Lagos, themed ‘Enhancing Partnership for MSME Resilience and Growth.’ Tony Okpanachi, Managing Director of DBN, emphasized the importance of financial institutions in transforming unbankable ideas into viable businesses through advisory services.

“You, our partners, are acknowledged and celebrated for your outreach to entrepreneurs and businesses seeking to scale. We appreciate you for your role in converting unbankable ideas into bankable businesses,” Okpanachi stated.

He noted that the award aims to recognize partners who make a significant impact, focusing on storytelling and the positive changes they bring to Nigeria.

This award joins a series of landmark initiatives by Fidelity Bank aimed at supporting MSMEs. Earlier in May, the bank signed a Memorandum of Understanding (MOU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to facilitate the expansion of Nigerian MSMEs across Africa.

Additionally, Fidelity Bank launched the Fidelity SME Hub in Gbagada, Lagos—a multifunctional facility equipped with training halls, meeting rooms, networking spaces, and studios for music, photography, and content production. This hub is designed to foster innovation, collaboration, and capacity-building, essential elements for strengthening Nigeria’s SME ecosystem and driving economic growth.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Business

Adron Homes Launches Grand Ileya Promo with Massive Discounts, Star Appearances & Festive Gifts

Published

2 hours ago

May 28, 2025

Sahara Weekly

Adron Homes Launches Grand Ileya Promo with Massive Discounts, Star Appearances & Festive Gifts

As the Ileya (Sallah) season approaches, Adron Homes, Nigeria’s leading real estate company, is again giving Nigerians a reason to celebrate beyond the festivities with the launch of its highly anticipated ILEYA/SALLAH PROMO!

This year’s celebration blends culture, community, and homeownership into a once-in-a-lifetime opportunity for families and individuals looking to secure their future through real estate.

With over 40 estate locations nationwide, spanning Lagos, Ogun, Oyo, Osun, Abuja, Nasarawa, Niger, Jos, and Ekiti, Adron Homes is offering a generous 30% discount on all land purchases. Even better, customers can enjoy convenient payment plans spread over 24 months, making land ownership more affordable than ever.

To mark the season of giving, Adron Homes is rolling out exciting gift rewards for customers based on their commitment levels:
•          ₦100,000 Payment – 10kg Bag of Rice or Aso Oke or Ankara
•          ₦200,000 Payment – 10kg Rice with Aso Oke or 2 Ankara
•          ₦500,000 Payment – Goat or 50kg Rice with Aso Oke or 2 Ankara
•          ₦1,000,000 Payment – Ram with Aso Oke or 2 Ankara or 50kg Rice + Goat
(Valid for lands worth ₦3M and above)
•          ₦3,000,000 Payment – 3 Rams with Aso Oke or 2 Ankara
(Valid for lands worth ₦8M and above)

This campaign is also being celebrated with the support of star brand ambassadors; Lateef Adedimeji, Ibrahim Chatta, and Femi Branch, who embody the spirit of culture, excellence, and family that Adron Homes stands for.

With a proven track record of delivering value and properties in strategic locations, Adron Homes is committed to making the dream of property ownership a reality for every Nigerian regardless of income level.

This Ileya season, the company is inviting all Nigerians to invest not just in land, but in a lifetime of security, prosperity, and generational wealth.

Visit any Adron Homes office nationwide or connect with us through our online platforms:
Website:adronhomesproperties.com

Business

Wear It All Luxury Opens New Abuja Boutique with Star-Studded Ceremony

Published

5 hours ago

May 28, 2025

Sahara Weekly

Wear It All Luxury Opens New Abuja Boutique with Star-Studded Ceremony

Four years after successfully reopening its flagship store in Lekki Phase 1, Lagos, following a major renovation, Wear It All Luxury, the upscale fashion brand owned by renowned entrepreneur, Sodiq Babatunde Rufai, has expanded its presence with the launch of a new boutique in Abuja.

The grand opening, held on Thursday, 22nd May 2025, at Libreville Crescent, Wuse 2, Abuja was a star-studded affair that brought together influential personalities from the fashion, entertainment, and business worlds. Among the high-profile guests in attendance was Afrobeats superstar Davido, whose presence added further glamour to the launch event.

Located in the heart of the capital, the new Abuja boutique is poised to offer the same top-tier fashion experience the brand is known for, curated luxury pieces, exclusive designer wear, and impeccable customer service tailored for Nigeria’s elite fashion lovers.

Speaking at the event, Sodiq Babatunde Rufai expressed his excitement about the brand’s expansion, stating, “This is more than just a store opening, it’s a statement that Nigerian fashion continues to grow and thrive. We’re proud to bring the Wear It All experience to Abuja, and we remain committed to setting the pace in luxury fashion across the country.”

The Abuja outlet joins the Lagos boutique in offering high-end fashion collections from globally recognized brands, as well as unique pieces under the Wear It All Luxury private label.

Guests were treated to a private showcase of the brand’s latest collections, light entertainment, and a luxurious atmosphere that perfectly reflected the Wear It All Luxury ethos.

As the fashion house continues to expand, industry watchers say the brand’s entry into the Abuja market marks another major milestone in Nigeria’s growing luxury fashion landscape.