Dangote Sugar declares 50k dividend per share, 1 for 5 bonus

Friday Ekeoba Lagos - 19.03.2008

Leading producer of refined sugar in the country, Dangote Sugar Plc, has declared a turnover of N83.8 billion in its 2008 financial year end result.

In the company’s financial result made available by the Nigerian Stock Exchange on Monday, the company would, however, be giving a bonus issue of one for five to shareholders and a dividend of 50 kobo as its final year and last quarter payment.

The company had made a total of N12 billion payments in its dividend schedule which is on quarterly basis.

The result showed that the company’s turnover dropped from N83.8 billion in 2007 to N80.64 in 2008 while Profit After Tax which closed last year at N16.65 billion increased to N21.47 billion in 2008.