Aliko Dangote earns N100bn in dividends

The first half of the year must be a jolly one for Africa’s richest man going by an estimate of dividends he will earn from his various companies. Dangote Industries Limited (DIL) will earn over N100 billion in dividends from the various firms in the Dangote Group.

A breakdown of the total earning of Dangote Industries which is ultimately controlled by Aliko Dangote shows Dangote Cement Plc, the largest company in the group yesterday released its results for the financial year ended December 2017 with a final dividend of N8.50 per totaling N144.8 billion. The company has an issued share capital of 17,040,507,405 shares.

The majority shareholder in the firm is Dangote Industries Limited (DIL) with a 90.9% stake amounting to 15,489,821,231 shares. DIL thus made about N131.6 billion from its holding in Dangote Cement.

NASCON Allied Industries declared a final dividend of N1.50 per share. Dangote Industries Limited has a 62.19% stake in the firm amounting to 1, 647, 763, 557 shares. Total dividend thus earned amounted to N 2,471,645, 335.

Dangote Sugar has paid an interim dividend of N0.50 per share for the 2017 financial year. Dangote Sugar Limited has an issued share capital of 12 billion shares. DIL has a 68% stake in the firm amounting to 8.16 billion shares. DIL’s interim dividend from the firm amounts to N4,080,000,000.