Lafarge Africa Shareholders Approve N1.90 Dividend

Kayode Tokede

Lafarge Africa Plc, a leading innovative and sustainable building solutions company has announced the successful conclusion of its 65th Annual General Meeting (AGM) held recently in Lagos.

The AGM served as a platform to showcase Lafarge Africa’s resilience, innovation, and commitment to delivering value to shareholders amidst challenging economic conditions.

During the AGM, Lafarge Africa reported robust financial performance, despite the prevailing economic headwinds.

The company announced a dividend of N1.90k per share, reaffirming its commitment to rewarding shareholders for their continued support and confidence in the company’s growth trajectory.

Addressing shareholders during the meeting, the Chairman, Lafarge Africa, Prince Adebode Adefioye stated: “The year 2023 posed unparalleled challenges for Lafarge Africa, with soaring inflation rates and a volatile currency landscape further compounded by the aftermath of election activities and a currency reform attempt. Despite these formidable headwinds, I am pleased to highlight the resilience demonstrated by our operations throughout the year.”

On the proposed dividend, Adefioye noted that it is reflective of the company’s prudent capital allocation strategy and underscores its commitment to delivering sustainable value to its esteemed shareholders even in these challenging times.

Also commenting, the Group Managing Director/CEO, Lafarge Africa Plc., Mr. Lolu Alade Akinyemi said: “Our company’s performance has been remarkable, especially considering the macroeconomic challenges we’ve faced. We achieved a 9% increase in net sales. Despite issues like foreign exchange volatility and inflation, I am optimistic about our medium to long-term outlook. This optimism is grounded in our commitment to delivering value to our customers and maintaining a resilient business.”