Dangote Cement emerges best performing stock by Nigerian Exchange Group
Africa’s largest cement manufacturer, Dangote Cement Plc, has emerged as the Best Performing Stock of the Year 2021 by the Nigeria Exchange Group (NGX).
Dangote Cement which prides as the most capitalised company on the Nigeria Stock Exchange was named the best stock ahead of BUA Cement Plc and CAP Plc, during the 2022 Nigerian Investor Value Award (NIVA) organised by the Businessday in collaboration with the Nigeria Exchange Group.
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The coveted award meant for two classes of companies namely, the listed companies segment and the Next Bull segment with Dangote cement leading the pack in the listed companies’ best-performing stock, in the industrial goods category having been adjudged to have recorded stellar performance in creating value on the Nigeria Stock Exchange on the basis of criteria such as share price, dividend payments, sustainability, brand value, market leadership and business strategy against its peers during the period under review.
In his address on the occasion, the Chief Executive Officer, Nigeria Exchange Limited, Mr Temi Popoola, who was represented by the Divisional Head, Capital Market, Mr Jude Emeka said the award by the Businessday Media Limited underlined Nigeria Exchange Group’s goal of promoting actionable and effective multi-stakeholder dialogue on issues central to a well-functioning financial system.
While acknowledging that the winner organisations are worthy and truly deserving the honour, he clarified that the winners were selected from among companies that are active and the investors have expressed strong demand to own their shares.
“As a responsible entity, known for aligning with best global practices, we recognise the importance of corporate governance and effective board leadership in driving sustainability on the business front. That is why we choose to not only recognise listed companies who are blazing the trail in investor relations but also contribute to building a sustainable socio-economic standard in governance, regulation and compliance.
The NGX boss said the leveraging of investments in business innovation and its diversified range of products and services coupled with robust engagement, we are well on our way to achieving our aspiration to be Africa’s preferred exchange hub especially given the number of advances that have been implemented recently including the launch of the NGX Exchange Traded Derivates Market which saw the listing of two Equity Index Futures Contracts, NGX30 Index Futures and the NGX Pension Index Futures.
He assured that the NGX remained resolute in its commitment to the provision of a scalable and enterprising platform for issuers and investors to meet their financial objectives irrespective of the prevailing conditions.
Mr Popoola said, “we will continue to consolidate on the advances by focusing on key initiatives aimed at creating and growing the capital market for the benefit of all key stakeholders.
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