The first phase of the share buyback of Dangote Cement is over

The first phase of Dangote Cement’s share buyback program, which was first announced in early July, is now complete.

Dangote Cement stated that the first tranche began on Monday and was finished on Tuesday via the open market on NGX in a corporate notice submitted on Thursday to the Nigerian Exchange Limited.

A total of 121,404,714 shares, or 0.71 percent of the company’s issued and fully paid common shares, were repurchased.

At an average price of N339, the repurchased shares were worth N41.155 billion.

The total number of issued and outstanding shares of Dangote Cement after the completion of Tranche I is 16,752,154,537.

According to the business, “The repurchased shares will be held as treasury shares and may subsequently be cancelled.”

According to the company’s financial year 2022 report, it had revenues of N1.62 trillion (up from N1.38 trillion in FY 2021) and a net profit of N382.31 billion (up from N364.44 billion in FY 2021).

Please leave this field empty

Oh hi there
It’s nice to meet you.

Sign up to receive awesome & exclusive content in your inbox, every week.

We don’t spam! Read our privacy policy for more info.

Thank you for signing up! Check your inbox or spam folder to confirm your subscription.