Strong earnings, ROI earn Dangote Cement ‘Best Performing Stock’

Having recorded strong earnings and improved returns on investment for stakeholders on a sustainable basis, Dangote Cement Plc has bagged the ‘Best Performing Stock‘ of the Year 2021 Award.

The company was named the ‘Best Performing Stock’ by the Nigeria Exchange Limited (NGX) ahead of BUA Cement Plc and CAP Plc at the 2022 Nigerian Investor Value Award (NIVA) organised by the Businessday in collaboration with the Nigeria Exchange Group.

The award was categorised under the listed companies segment and the Next Bull segment with Dangote cement leading others in the listed companies’ best-performing stock, under the industrial goods category having recorded stellar performance in creating value for stakeholders on the basis of criteria such as share price, dividend payments, sustainability, brand value, market leadership and business strategy against its peers during the period under review.

Speaking at the ceremony, the Chief Executive Officer of NGX, Temi Popoola restated the exchange’s commitment to leverage investments in business innovation, diversified range of products and services coupled with robust engagement with stakeholders and achieve its aspiration of becoming Africa’s preferred exchange hub.

He assured stakeholders that given the number of advances that have been implemented so far, especially the launch of the NGX Exchange Traded Derivatives Market with the listing of two Equity Index Futures Contracts, NGX30 Index Futures and the NGX Pension Index Futures, the exchange is at the verge of emerging the preferred investment in Africa.

Popoola, who was represented by the Divisional Head, Capital Market, Jude Chiemeka, at the occasion assured that the NGX remained resolute in its commitment to the provision of a scalable and enterprising platform for issuers and investors to meet their financial objectives irrespective of the prevailing conditions.

He added that the bourse would continue to consolidate on the advances by focusing on key initiatives aimed at growing the capital market for the benefit of all key stakeholders.

Popoola said the award by Businessday Media Limited underlined Nigeria Exchange Group’s goal of promoting actionable and effective multi-stakeholder dialogue on issues central to a well-functioning financial system.

While acknowledging that the winning organisations are worthy and truly deserving of the honour, he clarified that the winners were selected from among companies that are active and the investors have expressed strong demand to own their shares.

“As a responsible entity, known for aligning with best global practices, we recognize the importance of corporate governance and effective board leadership in driving sustainability on the business front.

“That is why we choose to not only recognize listed companies who are blazing the trail in investor relations but those also contributing to building a sustainable socio-economic standard in governance, regulation and compliance.”

Group Financial Controller, Dangote Group Financial Controller, Dangote Cement, Obu Oliver, while receiving the award thanked the organizers for the award and assured them that the companies would not rest on their oars in sustaining the strategies that make the stock the best performing.