Dangote Cement cancels treasury shares on NGX
Dangote Cement Plc stock market price steadied at N480 on Friday as the cement maker cancelled its repurchased or treasury shares in the equities market of the Nigerian Exchange Limited (NGX).
Following a successful share buyback program in 2024, the cement company has successfully cancelled its Treasury shares.
The cement company had launched a series of share repurchase programs in the recent past years to stem price volatility on the Nigerian Exchange.
A total of 166,948,153 Treasury Shares, a portion of previously issued outstanding shares repurchased from shareholders by Dangote Cement, were canceled on the Exchange.
Data from the Nigerian Exchange revealed that Dangote Cement Plc’s outstanding shares fell from 17.040 billion to 16.873 billion, with a total valuation of N8.099 trillion.
