Dangote Cement has completed the first tranche of its share buyback programme announced in early July.
In a corporate notice filed on the Nigerian Exchange Limited on Thursday, Dangote Cement said the first tranche commenced on Monday and was completed on Tuesday via the open market on NGX.
The total number of shares repurchased was 121,404,714 representing 0.71 per cent of the company’s issued and fully paid ordinary shares.
The value of the repurchased shares was N41.155bn at an average price of N339.
- First Bank, Ecobank, others drag equity market down by N257bn
- Emerging Africa eyes listing on NGX
- Dangote Cement plans new plants in Nigeria, Ghana, others
Following the conclusion of tranche I, the total number of issued and fully paid outstanding shares of Dangote Cement amounts to 16,752,154,537.
The company said, “The repurchased shares will be held as treasury shares and may subsequently be cancelled.”
In its 2022 financial year report, the company generated revenues of N1.62tn for the year ended (FY 2021: N1.38tn) and a net profit of N382.31bn (FY 2021: N364.44bn).
Dangote Cement operates in over 10 African countries. ,
Video Of Tinubu Promising Fuel Price Reduction Resurfaces Online Amid Hike
,
INEC plans result management system review
,
Subsidy removal: Govs plan cash transfers to poor households, dump Buhari’s list
,
Nigerian gold medallist turns voluntary Lagos road worker
,
Ex-Lagos deputy gov blames Nigeria’s problems on God’s anger, corruption
,
Ronaldo beats Messi, others to become Instagram highest-paid star
,
Ways to reduce your fuel consumption
,
10 things about Nigeria’s draw with Canada
,
