Shareholders of Dangote Cement Plc have received over N3.3 trillion in dividends in the last 15 years, in addition to massive gains from the appreciation of the cement stock on the Nigerian Exchange.
The disclosure was made on Wednesday during the “Facts Behind the Figures” presentation by the Management and Board of Dangote Cement, led by its new Chairman, Mr Emmanuel Ikazoboh, who recently succeeded Aliko Dangote.
Ikazoboh thanked shareholders for their trust and assured them of sustained value creation. “To our investors, you have my unwavering commitment to safeguarding and growing your investment. To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow,” he said.
The Group Chief Executive, Arvind Pathak, unveiled ambitious growth targets, including expanding installed capacity to 66.4Mta by 2030. He revealed the company had commissioned the first phase of its 3Mta Côte d’Ivoire plant, is advancing work on the 6Mta Itori Plant in Nigeria, and has announced a $400 million investment to double production capacity in Ethiopia.
According to him, Dangote Cement has invested more than $8.5 billion in capital projects across Africa in the past 15 years, underscoring its confidence in the continent’s long-term growth.
Leaders of the Nigerian Exchange (NGX) praised both the new board and former Chairman Aliko Dangote for their roles in building shareholder wealth and deepening Nigeria’s capital market.
It would be recalled that at the company’s 2024 Annual General Meeting, shareholders approved a dividend payout of N502.6 billion, representing N30 per share, the highest dividend by any manufacturing company in Nigeria that year.
Dangote Cement also boosted its social investments by nearly 470 percent to N3.2 billion, funding education, healthcare, agriculture, infrastructure, and economic empowerment projects.
Shareholder groups commended the company’s resilience despite economic challenges. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), said: “Despite forex challenges and expansion costs, the company still gave us excellent returns. This is commendable and shows the fighting entrepreneurial spirit of Dangote Cement.”
Chairperson of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, echoed similar sentiments. “As a shareholder and an active investor, I am very happy with the N30 per share dividend. Dangote Cement remains the only manufacturing company that paid the highest dividend in the year under review. We are proud to be part of this company,” she said.
By Lekan Olofinsusi
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