The total gross profit for the first full year of 2022 for Dangote Cement Plc was N955.4 billion, up 14.6% from N842.6 billion in the prior year.
The building materials tycoon said in a statement it submitted to the Nigerian Exchange on Monday that its income increased by almost 17.4% to N1.62 trillion from N1.38 trillion in the previous period.
Nonetheless, earnings before tax decreased slightly by 2.6% to N524 billion from N538 billion a year earlier. The increase in finance costs—which went from N65.7 billion to N130.4 billion—which was an increase of almost 100%—was primarily responsible for the fall in profit before tax.
As a result of these adjustments, the profit after tax increased by 4.8% from N364.7 billion to N382.3 billion.in 2021.In a separate statement submitted to the NGX, the business recommended a final dividend of N20 per share, payable to shareholders whose names are listed on the company’s books as at March 30, 2023.
According to the announcement, the company’s books will be closed on March 31, 2023. The payment date for the dividend is April 14, 2023. The business reported N22.27 in earnings per share.This results in a dividend pay-out ratio of 89.8% with a dividend of N20. With Monday’s closing share price of N272, the company had a price-to-earnings ratio of 12.21
