Dangote Cement Plc gains over N253bn as buyback programme runs

At the end of today’s trading session, Dangote Cement Plc share price ranked amongst gainers to appreciate by 5.52%, reaching a new 52-week high to close at N284.90 per share and taking the market capitalization from N4.60 trillion to N4.85 billion.

The cement company recorded a gain in share prices attributable to the commencement of the company’s share buyback programme which took off on Wednesday, 19th January and continued during today’s trading session, triggering an increase in prices and supporting a gain of N253 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.

The shares of the company grew from N270 per share at the start of the trading day to N284.90 per share, the highest price traded at the close of the market, to represent a gain of 5.52% which in monetary terms is N14.90.

The growth witnessed in the shares price of Dangote Cement Plc influenced the company’s market capitalization positively to move from N4.60 trillion to N4.85 trillion at the end of the trading activity, taking the gain to N253 billion.

The shares of the most capitalized company on the exchange have appreciated by 10.86% from year-to-date, starting the year at N257.00 and currently traded at N284.90. However, the shares of the company have returned about 43.82% gains for investors who bought them at their 52-week low trading price of N198.10 per share.

During the day’s trading hours, 102,917,075 ordinary shares of Dangote Cement Plc worth about N28.78 million, were exchanged in 448 executed deals.

At the end of the day’s trading activities, the NGX All-Share Index and market capitalization appreciated by 1.01% from the previous trading day, to close at 45,890.52 index points and N24.72 trillion respectively.