Africa’s Richest Man Aliko Dangote To Pocket $650 Million In Dividends
Africa’s richest man, Aliko Dangote, is set to pocket almost $650 million in dividends from profits made by his company Dangote Cement in 2018.
Dangote Cement recently released its FY ’18 results, reporting sales of $2.5 billion, up 12.11% from $2.23 billion in 2017. Profit after tax was $1.08 billion.Dangote Cement’s bottom line was buoyed by a $247 million group tax credit from the authorization of the pioneer tax status on the Ibese Production lines 3 & 4, as well as Obajana line 4.
Dangote Cement’s results led the board to propose a dividend payment of NGN16.00 ($0.044) per ordinary share.