Dangote Cement commences operations in Senegal, Cameroun
Dangote Cement’s new plants in Senegal and Cameroun have commenced operations and plants in Ethiopia and Zambia are expected to start production next month, even as the company recorded a profit of N159 billion in the year ended December 2014.
The new Senegalese plant, with a total production capacity of 1.5 million tons annually, is expected to create over 1,000 jobs while serving an export market demand of two million tons along the Mali axis.
Executive Director, Devakumar Edwin said: “I am proud to report that we commissioned nine million tons of new capacity at our Obajana and Ibese plants and this puts them amongst the biggest cement plants in the world.
Outside Nigeria, we opened up new factories in South Africa and Senegal in 2014 and our grinding plant in Cameroon has just become operational.
We have started commissioning our plants in Zambia and Ethiopia and are on track to open more factories in Africa in the coming years.”
“Despite challenging conditions with erratic fuel supply and a prolonged rainy season that affected revenues and profitability in Nigeria, we have increased our dividend payout ratio – a clear sign of confidence in our future.”
The directors have recommended a dividend of N6.00 per share, which translates to a yield of 3.9% and payout ratio of 63.5%.