With a tax charge of N97 billion for the financial year ended December 31, 2020, Africa’s largest cement maker, Dangote Cement Plc, has remained a major contributor to the economy, despite proposing a dividend of N16 per share.
The tax charge represents a 95 percent improvement over the amount of N50 billion reported in 2019, according to the cement group’s audited results published on the floor of the Nigerian Stock Exchange (NSE).
Dangote Cement’s Nigerian operations sold 15.9 million tonnes in 2020, compared to 14.1 million tonnes in 2019. This includes sales of both cement and clinker, implying a 12.9 percent increase for the entire year of 2020. In terms of domestic sales, Nigerian operations sold 15.6 million tonnes, up 14.3% year on year and resulting in a market share gain.
Data source: Premium Times