The Nigeria Exchange Group (NGX) has described Dangote Cement PLC as the Best Performing Stock of 2021.
Described as the most capitalized company on the Nigeria Stock Exchange, Dangote Cement was ranked the best stock ahead of BUA Cement Plc and CAP Plc, during the 2022 Nigerian Investor Value Award (NIVA) organized by the Businessday in collaboration with the Nigeria Exchange Group
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.
The Divisional Head, Capital Market, Mr. Jude Emeka who represented the Chief Executive Officer, Nigeria Exchange Limited, Mr. Temi Popoola 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.
Popoola said the winners are truly deserving of the honour after emerging from active companies with strong demand to their shares.
“As a responsible entity, known for aligning with best global practices, we recognize the importance of corporate governance and effective board leadership in driving sustainability on the business front. That is why we choose to not only recognize 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.
He said the leveraging of investments in business innovation and its diversified range of products and services coupled with robust engagement, the Exchange 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 growing the capital market for the benefit of all key stakeholders.
In his address of welcome, the Publisher, Businessday, Mr Frank Aigbogun said the NIVA formerly known as the Top 25 CEOs Award recognizes leaders of private and public companies who have created sustainable alpha-generating value for their shareholders through strategic priorities, operation efficiency, organizational 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 emphasized 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.
Meanwhile, the Group Financial Controller, Dangote Cement Plc, Mr. Obu Oliver, “who received the award thanked the organizers for the award and assured that the companies would not rest on its oars in sustaining the strategies that make the stock the best performing.