DANGOTE CEMENT TO PAY OVER N97 BILLION IN CORPORATE TAX FOR 2020

AFRICA’S LARGEST CEMENT PRODUCER DANGOTE CEMENT PLC HAS REMAINED A MAJOR CONTRIBUTOR TO THE ECONOMY WITH A TAX CHARGE OF N97 BILLION FOR THE FINANCIAL YEAR ENDED 31ST DECEMBER 2020, PROPOSING A DIVIDEND OF N16 PER SHARE.

ACCORDING TO THE CEMENT GROUP’S AUDITED RESULTS RELEASED ON THE FLOOR OF THE NIGERIAN STOCK EXCHANGE (NSE), THE TAX CHARGE REPRESENTS AN INCREASE OF 95 PER CENT OVER THE SUM OF N50 BILLION RECORDED IN 2019.

DANGOTE CEMENT’S NIGERIAN OPERATIONS DURING THE PERIOD SOLD 15.9 METRIC TON FOR THE FULL YEAR 2020, COMPARED TO 14.1 METRIC TON IN 2019.

THIS INCLUDES BOTH CEMENT AND CLINKER SALES, WHICH IMPLIES A 12.9 PER CENT GROWTH FOR THE FULL YEAR 2020.