Dangote cement pays over N3.3 trillion in dividends to shareholders in 15 years

…Vows to make Africa self-sufficient in cement and clinker

By Udeme Akpan

Dangote Cement Plc has paid more than N3.3 trillion in dividends to its shareholders over the last 15 years, alongside significant capital appreciation of its stock.

The disclosure was made on Wednesday during the company’s “Facts Behind the Figures” presentation at the Nigerian Exchange, led by its new Chairman, Mr. Emmanuel Ikazoboh, who recently succeeded Aliko Dangote.

Ikazoboh thanked shareholders for their support and assured them of continued strong returns. He reaffirmed the company’s commitment to transforming Africa by making the continent self-sufficient in cement and clinker production.

“To our investors, you have my unwavering commitment to safeguarding and growing your investment. To regulators and market operators, I pledge continued partnership and adherence to governance standards. To our employees and partners, I offer gratitude and assurance that our collective strength will drive us to greater achievements,” he said.

Chief Executive, Arvind Pathak, outlined the company’s growth plans, targeting an expansion of installed capacity to 66.4Mta by 2030 through a mix of greenfield and brownfield projects.

He revealed that Dangote Cement had commissioned the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant, while construction of the 6Mta integrated Itori Plant in Ogun State was progressing steadily. The company has also committed $400 million to doubling its production capacity in Ethiopia.

“Over the past 15 years, Dangote Cement has invested more than $8.5 billion across Africa, underscoring our confidence in the region’s long-term growth,” Pathak added.

Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, praised Aliko Dangote for his contributions to Nigeria’s capital market and private sector development, noting that he demonstrated how wealth could be created and transferred to the public through the capital market.

Group Managing Director of NGX Group, Temi Popoola, also lauded the new board and expressed optimism that shareholders would be pleased under Ikazoboh’s leadership.

At its last Annual General Meeting (AGM) in 2024, Dangote Cement shareholders approved a N502.6 billion dividend payout, translating to N30 per share.

The company also boosted its corporate social responsibility (CSR) spending by nearly 470 per cent to N3.2 billion, funding initiatives in education, healthcare, agriculture, infrastructure, and economic empowerment.

Shareholders’ groups praised the company’s resilience. President of the Association for the Advancement of Rights of Nigerian Shareholders, Faruk Umar, described the robust dividend despite economic challenges as a testament to management’s tenacity.

Similarly, Chairperson of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, commended the company’s consistency.

“For the company to declare N30 per share dividend despite earnings not being up to that level speaks volumes about its leadership. Dangote Cement remains the only manufacturing company that paid the highest dividend in 2024, and we are proud to be part of it,” she said.

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