Bamburi Cement Posts Stronger Result in FY 2020, Eyes More Cost Cuts

Bamburi Cement Appoints Head of Finance Vasileois

Bamburi Cement aims to continue growing earnings per share this year after it posted stronger results in 2020, with shareholders expected to receive KSh1.089 billion in dividends.

In the fiscal year, the cement maker’s pre-tax profit surged to KSh1.776 billion, from KSh728 million in 2019, a 144% increase.

This was in line with its Strategy 2022 agenda focusing on customers to drive topline growth, cost optimization, people, financial strength, and sustainability.

Bamburi Cement will hold a virtual Annual General Meeting on 10th June 2021.  During the AGM, shareholders will approve a first and final dividend on the company’s register at the close of business on 16th May 2021 will on 15th July 2021 receive a final dividend of KSh3.00 per ordinary share held.

The company intends to change its name to Bamburi Cement Plc from Bamburi Cement Limited, in line with the provisions of section 53 of the Companies Act 2015.