Dangote Sugar Refinery commences export in 2008
April 12th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
With few weeks after being listed on the Nigerian stock market, paying shareholders a dividend of N1.15 as against the N1.00 it stated in its IPO and acheiving a capital appreciation of over 100 percent in 3 weeks, the management of Dangote Sugar Refinery has concluded plans to commence exportation of sugar in 2008.
The chairman of the company disclosed this at the 1st Annual eneral Meeting(AGM) of the company in Lagos. He also affirmed that the daily production which currently stands at 4,000 tonnes would be increased to 7,500 tonnes to meet customers demand.
In a show of sound management principles, the chairman also said that the company would commence payment of quaterly dividends beginning in April 2006. Consequently, two dividends will be paid in the month of April 2007.
What do you think would happen if all Nigeria companies were this good and transparent?Hmm…
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I so much believe in the prospects of Dangote Sugar Refinery so much so that i can help it but to take advantage of the under valued stocks now.