Dangote Sugar Approves N12Billion Dividend For Shareholders

Shareholders of Dangote Sugar Plc at the company’s 16th Annual General Meetings (AGM) endorsed a dividend of N12.147 billion dividend, representing N1.00 per share of 50 kobo each.

The company’s financial result for the year ended December 31, 2021, showed strong growth in gross earnings of 29% to N276 billion over N214 billion in comparative year of 2020.

The result shows continued headline growth from diverse income streams and resilience across all financial indicators, amidst macroeconomic headwinds during the year under review.

Despite the challenges that impacted in the company’s performance during the year, ranging from weak macro-economic fundamentals caused by the underlying, and continued impact of COVID-19 pandemic which saw to the steady rise in FX rate, inflation and rise in cost of production, sales volume grew to 771,321 tonnes, production to 811962 tonnes being 5% and 9% volume growth over the same period in 2020.

Addressing shareholders at the AGM, the Chairman of the company, Alhaji Aliko Dangote said the company’s performance during the year under review was commendable amidst the challenges and the negative impact of COVID-19 pandemic on economic activities.

Source: Wire News

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