Dangote Cement Plc has commenced the second tranche of the shares buyback programme as the management proposed to repurchase 170.003 million shares from shareholders.
Share buyback, or share repurchase, is when a company buys back its own shares from investors or shareholders. It can be seen as an alternative, tax-efficient way to return money to shareholders. This comes after the company’s shareholders approved the move at the annual general meeting held in May 2021.
This was revealed in the company’s disclosure which was signed by the company’s secretary, Edward Imoedemhe on the Nigerian Exchange Limited.The second tranche of the programme entails that up to 170.003 million fully paid-up ordinary shares of 50 Kobo each, representing one per cent of the currently issued shares, less treasury shares will be repurchased.
That's Greediness
He has a way of showing confidence in himself.
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