• Home
  • About Us
  • Contact Us
Thursday, June 1, 2023
Star Lite News
  • Home
  • News
    • All
    • Business
    Fuel Queues

    Subsidy Removal: Queues Resurface At Fuel Stations In Lagos

    Rauf Aregbesola

    FG Declares May 29th Work-free Day

    Dangote

    Dangote Refinery Will Generate $21billion, To Employ Over 100,000 Youths

    Judge Mohammed Yunusa

    Judge Suspended For Bribery Nullifies Alex Otti’s Candidacy

    TAJ Bank

    TAJ Bank Director, 4 Officials Charged With Alleged Money Laundering

    Dangote Petroleum Refinery

    Lagos Govt Alerts Commuters Amid Plans To Inaugurate Dangote Refinery

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

    Saga & Nini

    Nini and Saga: Former Big Brother Naija Housemates Engaged

    GTCO Food & Drink Festival

    GTCO Food & Drink Festival 2023… A Celebration Of Food!

    Adeniyi Johnson and Seyi Edun

    Actor Adeniyi And Wife Finally Become Parents As They Welcome Twins

    Nollywood Veterans Visits Agbaminoja

    Agbaminoja Plays Host To Nollywood Veterans

    Nancy Isime

    Filming with legends will forever put a big smile on my face – Nancy Isime

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Fuel Queues

    Subsidy Removal: Queues Resurface At Fuel Stations In Lagos

    Rauf Aregbesola

    FG Declares May 29th Work-free Day

    Dangote

    Dangote Refinery Will Generate $21billion, To Employ Over 100,000 Youths

    Judge Mohammed Yunusa

    Judge Suspended For Bribery Nullifies Alex Otti’s Candidacy

    TAJ Bank

    TAJ Bank Director, 4 Officials Charged With Alleged Money Laundering

    Dangote Petroleum Refinery

    Lagos Govt Alerts Commuters Amid Plans To Inaugurate Dangote Refinery

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

    Saga & Nini

    Nini and Saga: Former Big Brother Naija Housemates Engaged

    GTCO Food & Drink Festival

    GTCO Food & Drink Festival 2023… A Celebration Of Food!

    Adeniyi Johnson and Seyi Edun

    Actor Adeniyi And Wife Finally Become Parents As They Welcome Twins

    Nollywood Veterans Visits Agbaminoja

    Agbaminoja Plays Host To Nollywood Veterans

    Nancy Isime

    Filming with legends will forever put a big smile on my face – Nancy Isime

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Business

Dangote Sugar Pays N18.22bn Dividends, To Produce 170,000 Tonnes Next Season

starliteadmin by starliteadmin
April 16, 2023
in Business
0
Dangote Sugar Refinery Plc 17th AGM
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Despite the economic headwinds that characterised 2022, Dangote Sugar Refinery Plc (DSR) will pay N18.22 billion as dividends to shareholders for the year ended December 31, 2022, while also targeting the production of over 170,000 tonnes of sugar next season. The dividend payout will translate to N1.50 kobo per share held by shareholders.

Chairman of the Company, Aliko Dangote said: “The shareholders are very happy with the way we have been running their company and also in re-investing the profit into the Backward Integration Programme (BIP) for the sugar industry. We are going to play our part in ensuring that Nigeria becomes self-sufficient in sugar within a very short period. We are not the only players, but we will surely play our part. We should be able to produce over 170,000 tonnes which are by far, in the history of Nigeria, the highest to be produced locally.”

The company recorded an impressive turnover of N403 billion, a 46 per cent increase over N276 billion recorded during the same period in the year before, and posted a Profit before Tax (PBT) of N82 billion.

Dangote attributed the company’s remarkable performance to the pragmatic approach the management deployed by focusing on continued cost and process optimisation, improved efficiencies in every area of operations, and service delivery to our customers.

He pledged that the management would continue to implement strategic actions to sustain the performance with the support of all stakeholders with complete adherence to the tenets of the Federal Government’s Sugar Master Plan.

Dangote said part of the success recorded by Dangote Sugar was made possible by the management’s continued implementation of the Dangote Sugar Development Master Plan with the rehabilitation and upgrade of the Dangote Sugar Refinery’s Numan operations, facilities and land development, as well as the development of the Nasarawa Sugar Company Limited, the greenfield sugar project, and Tunga in Nasarawa State.

He said: “Concerted efforts were made during the year to rise above the various challenges that came about due to the COVID-19 lockdown which affected project timelines considerably and continued to generally impact economic activities due to its spill-over effect, which also led to the lack of forex to finance most of the project deliverables.
“We however continued to surge ahead supported by the various stakeholders in the industry and government parastatals, with the resolve to ensure that the goals of the Nigeria Sugar Development Master Plan are achieved.”

The Company Chairman noted that during the year under review, the first phase of the Sugar Master Plan implementation period came to an end and that the Federal Government approved the second phase over the next 10 years.

“This extension came on the back of the review of the first phase by the National Sugar Development Council and other government parastatals with cognisance of the challenges and several circumstances that were unforeseen which riddled the first phase of the programme,” he added.

Dangote stated that the board and management were, however, focused on the achievement of the goals of the strategic initiative, and thus considerable progress was recorded in the project development, despite the numerous challenges faced.
Not minding the obstacles ahead, Dangote promised that the management would continue to create sustainable value for all stakeholders through an inclusive approach to growth and development, with continuous engagement with all parties, to enable the company make a positive impact, support poverty eradication and food security, infrastructure development, empowerment for members of the immediate communities, and the society at large.

In her remarks, the Coordinator of the Pragmatic Shareholders Association, Mrs. Adebisi Bakare expressed the satisfaction of shareholders with the performance of the company, noting that despite all the encumbrances in the sugar sub-sector of the economy, the company still performed far and above the previous year.

She urged the board and the management to continue in the direction they have taken to get the company to the current winning, assuring that the management has the support of the shareholders to post even better performance in the coming years.

Photo Caption

L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; and Non-Executive Director, Dangote Sugar Refinery Plc, Abdu Dantata, at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.


L-R: Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; and Non-Executive Director, Dangote Sugar Refinery Plc, Olakunle Alake, at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.

L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; and Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.

L-R: Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; and Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.


L-R: Non-Executive Director, Dangote Sugar Refinery Plc, Uzoma Nwankwo; Non-Executive Director, Dangote Sugar Refinery Plc, Benedikter Molokwu; Company Secretary/Legal Adviser, Dangote Sugar Refinery Plc, Temitope Hassan; Chairman, Dangote Sugar Refinery Plc, Aliko Dangote; Group Managing Director/CEO, Dangote Sugar Refinery Plc, Ravindra Singh Singhvi; and Non-Executive Director, Dangote Sugar Refinery Plc, Abdu Dantata; Independent Non-Executive Director, Dangote Sugar Refinery Plc, Maryam Bashir; Independent Non-Executive Director, Dangote Sugar Refinery Plc, Yabawa Lawan Wabi; Non-Executive Director, Dangote Sugar Refinery Plc, Olakunle Alake at the Dangote Sugar Refinery Plc 17th Annual General Meeting held in Lagos on 14th April, 2023.

Tags: Aliko DangoteChairman of the CompanyCoordinator of the Pragmatic Shareholders AssociationDangote Sugar Refinery Plc.DSRMrs. Adebisi BakareStarlitenews
Previous Post

FirstBank Announces Corporate Name Change Of Subsidiaries

Next Post

GTCO Posts N214bn As Pretax Profit In 2022

starliteadmin

starliteadmin

Related Posts

Wema Bank

Children’s Day 2023: Davido Joins Wema Bank To Empower Teenagers With Skills Acquisition

by starliteadmin
May 29, 2023
0

Wema Bank Plc, the leading innovative financial institution in Nigeria, has celebrated the 2023 Children's Day with a remarkable initiative...

NASCON AGM In Lagos.

NASCON Records 84% Increase In Profit

by starliteadmin
May 29, 2023
0

NASCON Allied Industries Plc, a leading food seasoning and processing company in Nigeria, has achieved remarkable growth in key performance...

Dangote Cement Ibese

Zero Carbon Emission: Dangote Cement Ibese Commissions Trucks For Biomass Waste Management

by starliteadmin
May 28, 2023
0

As part of efforts aimed at environmental sustainability and migration to the use of alternative fuel to power its operations,...

Access Bank

Access Bank Rewards More NYSC Members To Promote Entrepreneurship Amongst Youths

by starliteadmin
May 28, 2023
0

As part of its commitment to continually empower the youth through various entrepreneurial initiatives, Retail giant, Access Bank has rewarded...

Fidelity Bank

Shareholders Praises Fidelity Bank For Exceptional Performance In 2022 Financial Year

by starliteadmin
May 25, 2023
0

Shareholders of leading financial institution, Fidelity Bank Plc, have commended the board and management of the bank for delivering an...

Wema Bank

Wema Bank Employees Donate Chairs, Tables To Isale Eko Grammar School

by starliteadmin
May 24, 2023
0

Wema Bank, Nigeria’s leading financial institution known for its dedication to social responsibility, marked a momentous occasion today as it...

Next Post
GTCO

GTCO Posts N214bn As Pretax Profit In 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • A Day With Legends of Nollywood

    Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0
  • RECRA 2023 Host Gov. Babajide Sanwo-Olu, Bldr. (Dr.) Abdulhakeem Odegade, Paul Obazele, Other Eminent Personalities

    0 shares
    Share 0 Tweet 0
  • Akmodel First Physical Allocation At Akmar Flourish Gardens Epe (Photos)

    0 shares
    Share 0 Tweet 0
  • M.D Of AKMODEL GROUPS, Bldr. (Dr.) Odegade, Paul Obazele, Favour Benson, Mrs Janet Mordi (M.D Zekod Farms LTD.) Mr. Ralph (Viju Industries), Others Attends RECRA 2023 (Photos)

    0 shares
    Share 0 Tweet 0
  • Agbaminoja, CSP Oriyomi, Dr. Kenny Muibi, Others Storm AKMODEL GROUPS 2nd Anniversary (Photos)

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Viju Milk Drink Exemplifies The Spirit Of World Milk Day By Promoting The Consumption Of Milk
  • Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant
  • NNPC Announces New Fuel Price Across States
  • Fidelity Bank MD, Nneka Onyeali-Ikpe Gets National Award
  • Subsidy Removal: Queues Resurface At Fuel Stations In Lagos
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.