Shareholders laud Dangote Flour Mills’ return to profitability
Shareholders of Dangote Flour Mills (DFM) Plc at the weekend commended the board and management of the flour-milling company for the strategic initiatives that restored profitability and dividend payment to shareholders.
Shareholders who spoke at the annual general meeting at the weekend in Lagos said the performance of DFM in recent period represents a new dawn, after many years of losses and no dividend to shareholders.
President, Pragmatic Shareholders Association of Nigeria, Mrs Bisi Bakare, commended the return to profit and dividend payment noting that shareholders invested with the hopes of making returns on their investments.
A shareholders’ leader, Mr. Sotunde Shopeju, said the return to profitability and declaration of dividends would enhance the welfare and wellbeing of shareholders.
According to him, with the declaration of dividends, shareholders’ hope and expectations have been met as they will now begin to gain from the proceeds of their investments.
A shareholders’ right activist, Mr. Nonah Awoh noted that the management of DFM achieved cost reduction through prudent and efficient use of resources which positively reflected in its earnings, profitability and dividend payment.
He urged the management to continue to work to optimise the company resources.
Another shareholder, Adeleke Olajimeji also commended the management, urging the company to be more proactive in terms of marketing and branding of its products to increase its brand visibility across the nation.
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