Africa’s largest Cement manufacturer, Dangote Cement Plc, has emerged the Best Performing Stock of the Year 2021 by the Nigeria Exchange Group.
The most capitalised firm on the Nigeria Stock Exchange emerged ahead of BUA Cement Plc and CAP Plc.
This was disclosed during the 2022 Nigerian Investor Value Award organised by Businessday in collaboration with the Nigeria Exchange Group.
The coveted award meant for two classes of companies, namely: 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, Temi Popoola, who was represented by the Divisional Head, Capital Market, 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, Popoola clarified that the winners were selected from among companies that are active and in which investors have expressed strong demand to own their shares.
He said: “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 investors relations, but those also contributing to building a sustainable socio-economic standard in governance, regulation and compliance.”
The Nigeria Exchange boss said with 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.
Popoola added: “We will continue to consolidate on the advances by focusing on key initiatives aimed at creating growing the capital market for the benefit of all key stakeholders.”
In his address of welcome, the Publisher, Businessday, Frank Aigbogun, said the NIVA, formerly known as the Top 25 CEOs Award, recognises leaders of private and public companies who have created sustainable alpha-generating value for their shareholders through strategic priorities, operation efficiency, organisational values and marketing engagement activities.
He explained that COVID-19 was what most companies, including Nigerian businesses, never envisaged, but the reality today is that Russian-Ukraine crisis has again emphasised the urgent need for backward integration and value addition to the nation’s primary produce.
Aigbogun expressed happiness that the Nigeria capital market has remained strong in the mix of the global realignment that is going on consequent upon the Ukrainian crisis.
Obu Oliver, the Group Financial Controller, Dangote Cement Plc, who received the award, thanked the organisers for it and assured that the companies would not rest on its oars in sustaining the strategies that make the stock the best performing.