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    MarketForces Africa » MarketForces News » Dangote Cement Cancels Treasury Shares, Price Steadies

    Dangote Cement Cancels Treasury Shares, Price Steadies

    Julius AlagbeBy Julius AlagbeFebruary 19, 2025Updated:February 19, 2025 News No Comments1 Min Read
    Dangote Cement Cancels Treasury Shares, Price Steadies
    Aliko Dangote
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    Dangote Cement Cancels Treasury Shares, Price Steadies

    Dangote Cement Plc stock market price steadied at N480 as the company cancelled its repurchased or treasury shares in the equities market today, stockbrokers revealed.

    Following a successful share buyback program in 2024, the cement company has successfully cancelled its Treasury shares. The cement company had launched a series of share repurchase programs in the recent past years to stem price volatility on the Nigerian Exchange.

    A total of 166,948,153 Treasury Shares, a portion of previously issued outstanding shares repurchased from shareholders by Dangote Cement Plc, were canceled on the exchange today.

    Data from the Nigerian Exchange revealed that Dangote Cement Plc’s outstanding shares fell from 17.040 billion to 16.873 billion, with a total valuation of N8.099 trillion. #Dangote Cement Cancels Treasury Shares, Price Steadies Yield on Nigerian Treasury Bills Falls ahead of Rebase Data

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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