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Dangote Cement Plc (NSE – DANGCEM) has announced the completion of the first tranche of its share buy-back programme.
Dangote Cement Plc acquired a total of 40.20 million units of the company shares worth nearly N9.8 billion from 30 to 31 December 2020 according to a statement signed by Edward Imoedemhe Deputy Company Secretary.
The company had on 21 December 2020 announced the commencement of its share buy-back programme.
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According to the statement “following the conclusion of Tranche I, the total number of residual issued and fully paid outstanding shares of DCP amounts to 17,000,307,404.
“Execution of this Tranche I did not have any material impact on the Company’s financial position. The Company will continue to monitor the evolving business environment and market conditions, in making decisions on further tranches of the Share Buy-Back Programme.”
Details of the share buy-back
- Commencement Date: Wednesday, 30 December, 2020
- Completion Date: Thursday, 31 December, 2020
- Mode: Open Market on The Nigerian Stock Exchange
- Total Number of Shares Repurchased: 40,200,000, representing 0.24% of the Company’s issued and fully paid ordinary shares
- Total Value of Shares Repurchased: N9,769,478,307.80 Average Price: N243.0218
About Dangote Cement Plc
Dangote Cement is Africa’s leading cement producer with operations in over ten (10) African countries including Nigeria, Cameroon, Congo, Ethiopia, Ghana, Senegal, Sierra Leone, South Africa, Tanzania and Zambia.
The Company generated revenues of N761.44 billion in the nine-month period ended 30 September, 2020 (9M 2019: N679.79 billion) and a net profit of N208.69 billion (9M 2019: N154.35 billion).
DCP is a public company listed on The Nigerian Stock Exchange. At the close of trading on Monday, the equity price closed flat at N225.00 per share. YTD is down by 8.13%.
By: Ifunanya Ikueze
