Dangote Cement Plc Set To Release Annual Audited Financial Statements

Dangote Cement Plc is set to release its annual audited financial statements on or before February 28, 2022.

The company, which is worth US$14 billion by market value and has subsidiaries in Benin, Cameroon, Ghana, Nigeria, South Africa, and Zambia, had planned earlier to release its unaudited fourth-quarter financial report to its shareholders but decided against that and instead plans to present a year-end financial statement.

The company’s investors are eagerly looking forward to this report, as such a release has the potential to drive the price of the company’s shares upward if its actual earnings exceed analysts' forecast.

Part of the expectation for investors is the payment of dividends, as a dividend of N16/share was paid for the December 31, 2020, financial year, coming out of a N272. 6 billion approved amount for dividend payment.

Historically, the cap of the equity market is usually on an uptrend during such news releases, as the all-share-index went up by +1.92%, partly due to Dangote Cement Plc's Annual Audited Financial Statements (AAFS).

The company had filed for a replacement of its Fourth Quarter Unaudited Returns with that of the Annual Audited Financial Statement, which was approved by the Security and Exchange Commission.

So in essence, February 28, 2022, is now the new release date.