Dangote Cement Pays N35.095 Bln to Repurchase Own Shares
Following the completion of the second tranche of its share buyback programme, Dangote Cement Plc. said the company has repurchased shares worth N35.095 billion from its shareholders, according to regulatory filling.
The total number of shares the company repurchased was 126,748,153, according to a document submitted to the Nigerian Exchange, representing 0.74% of the issued and fully paid ordinary shares.
The largest quoted company trading with Ticker: DANGCEM in the local bourse told the Nigerian Exchange and investing public that its buyback its own shares at an average price of N276.89. The stock price opens at N284.90 Wednesday.
MarketForces Africa recalled that the company announced the second tranche of its share buy-back programme on 12 January 2022. It said following the conclusion of Tranche II, the total number of residuals issued and fully paid outstanding shares of DCP amounts to 16,873,559,251.
The repurchased shares will be held as treasury shares and may subsequently be cancelled. Execution of this Tranche II did not have any material impact on the Company’s financial position, Dangote Cement said. #Dangote Cement Pays N35.095 Bln to Repurchase Own Shares
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