by DSRNews DSRNews

Dangote Sugar Pays N21 Billion In Dividend, N121 Billion On Asset Acquisition

Dangote Sugar Refinery Plc has increased dividend pay out to shareholders for the 2017 financial year by 192 per cent to N21 billion, translating to 175 kobo per share from N7.2 billion or 60 kobo per share in 2016, in line with its resolve to deliver decent returns on investments. Speaking at the company’s yearly general meeting in Lagos at the weekend, the Chairman of Dangote Sugar Refinery Plc, Alhaji Aliko Dangote, said the company achieved a group turnover of N204.42 billion, showing 20.4 per cent increase over the comparative period of 2016. “With Profit Before Tax of N53.6 billion, showing 173 per cent increase over the 2016 and profit after tax of N39.7 billion, the board has recommended to shareholders for approval, at this meeting, the payment of a final dividend of N15 billion, being 125 kobo for the year ended December 31,2017.“The board had earlier approved the payment of an interim dividend of N6 billion, being 50 kobo per share. This brings the total dividends for the year under review to N21 billion,” he said. Speaking on the company’s backward integration project, Dangote said the firm has spent N121 billion on equipment, land acquisition, compensation to land owners, consultancy and related services. According to him,  despite the major setbacks like flood, community relations issues and most recently, clashes between host communities and Fulani herdsmen that hampered  progress, Savannah Sugar remained the only company producing sugar from own grown sugarcane in the country with over N30 billion spent to date. “Negotiations with the government and local communities in Kwara and Niger states on land acquisition processes are ongoing, in line with the backward integration sites,” he said.  THE GUARDIAN PAGE 26, JUNE 25, 2018

by DSRNews DSRNews

Dangote Sugar Refinery Increases Dividend Payout By 192% To N21bn

In line with its resolve to reward shareholders with improved returns, Dangote Sugar Refinery(DSR)  Plc has increased dividend paid  for  the  2017 by 192 per cent to N21 billion from N7.2 billion  in 2016. The dividend is 175 kobo per share, up from  60 kobo per share in 2016 and would be paid from today. Speaking at the annual general meeting (AGM) held in Lagos yesterday,  Chairman of DSR, Alhaji Aliko Dangote said the company recorded an impressive performance despite the challenging environment. According  to him, revenue rose by 20.4 per cent  from N169.72 billion to N204.42 billion in 2017.  Profit before tax jumped by 173.3 per cent to N53.6 billion, from N19.61 billion, while profit after tax grew fast by 176 per cent to N39.78 billion as against N14.4 billion in 2016. “The board has recommended to shareholders for approval, at this meeting, the payment of a final dividend of N15 billion, being 125 kobo for the year ended December 31,2017. The board had earlier approved the payment  of an interim dividend of N6 billion, being 50 kobo per share. This brings the total dividends for the year under review to N21 billion,” he said. Dangote disclosed that the company had invested N121 billion  on equipment, land acquisition, compensation to land owners, consultancy and related  services  in its  backward integration. He said despite the major setbacks like flood, community relations issues and most recently  clashes between host community and Fulani herdsmen that hampered  progress, Savannah Sugar  remained  the only company producing  sugar from own grown sugarcane in the country with over N30 billion spent to date. THISDAY PAGE 45, JUNE 22, 2018

by DSRNews DSRNews

Dangote Tasks Private Sector On Women Empowerment

President of Dangote Group, Alhaji Aliko Dangote, has urged private sector operators and government at all levels to adequately empower women as a means of poverty reduction. Dangote said once women have been successfully empowered to support their homes and families, poverty will gradually become a thing of the past in the country. Speaking while flagging- off the disbursement of N130 million to 13,000 women in Lafia, the Nasarawa State under the Aliko Dangote Foundation microgrant scheme, Dangote promised to do all within his power to spread his wealth across the country, towards reduction of poverty in the country. The micro-grant scheme, according to Dangote, was one of the components of the economic empowerment programme of the foundation. He said the grant was aimed at providing the disadvantaged and vulnerable in the society with an unconditional N10,000 cash transfer to boost their household income generation. “This we believe will help the beneficiaries meet their livelihood needs,” he added. BUSINESSDAY PAG 2. JUNE 1, 2016

L-R: Executive Director Dangote Industries Ltd, Fatima Aliko Dangote; Wife of Nasarawa State Governor Hajiya Salamotu Almakura; Nasarawa State Governor Tanko Almakura; Founder/Chairman, Aliko Dangote Foundation, Aliko Dangote; Trustee , Aliko Dangote Foundation, Halima Aliko Dangote; Managing Director/CEO, Aliko Dangote Foundation, Zouera Youssoufou, at the launching/disbursement of N130M to 13,000 vulnerable women in Nasarawa State, recently.

by DSRNews DSRNews

Apapa Gridlock: Truck Drivers Ordered To Vacate Bridge In 48 Hours

Stakeholders, including the Nigerian Military and the Lagos State Government(LASG) on Wednesday gave a 48-hour ultimatum to all tanker drivers to vacate the bridge in national interest and security. Gridlock as tankers shut down Apapa road yesterday. The resolution was reached during a stakeholders meeting at the Naval Base in Apapa, comprising the military, Nigerian Port Authority(NPA), LASG, Nigerian Union Petroleum Natural Gas Workers (NUPENG). Others who attended the stakeholders meeting were representatives of the Nigerian Police, Dangote Group, Apapa Residents Association, Lagos State Traffic Management Authority, Apapa Government Reserved Area Residents Association, among others. The Flag Officer Commanding, Western Naval Command of the Nigerian Navy, Rear Adm. Sylvanus Abbah, who was the convener of the meeting, appealed to the tanker drivers to leave the bridge in national interest. According to him, terrorists might take the advantage of the traffic situation to strike in Lagos and this has to be prevented from happening. “After 48 hours, no truck will park on the bridge because of national interest and I hope you will all take the decision of this meeting,” he said. Abbah said a committee would also be set up which would involve the major stakeholders including NUPENG to further address the traffic situation. THISDAY PAGE 52, Thursday 8th March, 2018