Aliko Dangote, the chairman of the Dangote Group, raked in a total of N177 billion from his Dangote Cement Plc stake in 2021, as investors rallied up Dangote Cement Plc shares to appreciate by 4.94% year on year.
The billionaire and richest man in Africa currently holds the majority stake in Dangote Cement Plc, to a tune of 14,649,030,247 units of shares, made up of representing 27,642,637 direct holdings and 14,621,387,610 indirect holdings, representing 85.97% of the 17.04 billion total issued shares of the company.
At the end of 2021, the billionaire’s total holdings were valued at N3.76 trillion, up from N3.59 trillion at the beginning of the year 2021.
Read: Africa’s billionaire, Aliko Dangote gains N177 billion in 2021 as cement shares rally by 4.94%
The growth in share prices was driven by buy-interests in the shares of Dangote Cement Plc which triggered an appreciation in the company’s value by 4.94% for the year, from N244.90 per share at the start of the year, to N257.00 per share at the close of the market.
Subsequently, this supported the company’s market capitalization by N206.19 billion on the exchange, from N4.17 trillion to N4.38 trillion at the close of trading activities on Nigeria’s stock exchange.
Dangote Cement is currently the most capitalized company on the Nigerian Exchange Limited.
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Company performance during the year
The company’s financial result in Q3 2021, revealed that revenue grew by 16.53% while net income for the period appreciated by 4.94% from N82.54 billion in Q3 2020 to N86.62 billion in the current period. The Full-Year 2021 financial result is yet to be published.
Also, during the year, Dangote Cement deepened its participation in the Debt Capital Market, raising over N190 billion through Commercial Papers and bond instruments and also got listed on FMDQ Securities Exchange in 2021.
In December 2021, Dangote Cement listed N15.20 billion Series one, N7.96 billion Series two and N17.84 billion Series three Commercial Papers under its N150.00 billion CP Issuance Programme on FMDQ.
In addition to this, the cement company completed its 6 million metric tonnes per annum factory in Okpella, Edo State, with an estimated cost of $1 billion.
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2022 Stock performance
So far in 2022, the shares of Dangote Cement Plc have declined by 2.72%, starting the year at N257.00 and currently traded at N250.00.
During the first trading week of the year, the market capitalization of Dangote Cement Plc depleted by N119 billion, from N4.38 trillion at the beginning of the trading week, to N4.26 trillion at the end of the week.