Three directors on the board of Dangote Group have mopped 2.5 million shares of Dangote Cement Plc on the Nigeria Exchange Limited with a total investment of about N1.6 billion.
The principal directors include Dr Adenike Fajemirokun, Chief Risk Officer, Aliyu Suleiman, Group Chief Strategy Officer and Alake Marcus Olakunle, Director.
All transactions, though separately done, were executed in one day on the floor of the Exchange.
According to a notification from the NGX, all the deals were carried out on March 7, 2024, at N618 per unit.
Alake acquired the lion’s share of 2 million units at N618 per share amounting to about N1.24 billion while Aliyu spent N92.7 million to buy 150,000 units of the company’s shares.
Dr. Fajemirokun who bought 350,000 units of the shares of Dangote Cement, paid N216.3 million.
Dangote Cement Plc released its 2023FY audited financials recently, reporting an EPS of N26.47 (2022FY: NGN22.27).
The EPS print was underpinned by the stellar revenue (+36.4% y/y) growth and a moderation in tax expenses (-31.2% y/y) amid the higher net finance cost (+209.4% y/y) incurred in the period.
The board has proposed a final dividend per share of NGN30.00, implying a dividend yield of 4.4% based on the last closing price of N686.70/s (29 February).
