LAGOS — Dangote Cement Plc has disclosed that it has paid more than N3.3 trillion in dividends to its shareholders over the last 15 years, even as its stock continues to record significant capital appreciation on the Nigerian Exchange (NGX).
The revelation came on Wednesday during the company’s “Facts Behind the Figures” presentation at NGX, led by its new Chairman, Mr. Emmanuel Ikazoboh, who recently succeeded Africa’s richest man, Aliko Dangote.
Ikazoboh assured shareholders of continued strong returns while pledging adherence to governance standards and strategic growth.
“To our investors, you have my unwavering commitment to safeguarding and growing your investment. To regulators and market operators, I pledge continued partnership. To our employees and partners, I offer gratitude and assurance that our collective strength will drive us to greater achievements,” he said.
Chief Executive Officer, Arvind Pathak, unveiled the company’s ambitious expansion plans, including raising installed capacity to 66.4 million tonnes per annum (Mta) by 2030 through new greenfield and brownfield projects.
Among the projects highlighted were:
- The commissioning of the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant.
- Ongoing construction of a 6Mta integrated Itori Plant in Ogun State.
- A $400 million investment in Ethiopia to double production capacity.
“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 stated.
Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, hailed Dangote for demonstrating how wealth can be created and transferred to the public through the capital market. Group Managing Director of NGX, Temi Popoola, also expressed optimism in Ikazoboh’s leadership to sustain shareholder value.
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 highest dividend declared by any Nigerian manufacturing company that year.
The company also ramped up its corporate social responsibility (CSR) spending by 470% to N3.2 billion, funding projects in education, healthcare, agriculture, infrastructure, and economic empowerment.
Shareholders’ associations praised the company’s resilience.
“For the company to declare N30 per share dividend despite earnings not being up to that level speaks volumes about its leadership,” said Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria.
Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders, added that the robust dividend payout despite economic challenges is a “testament to management’s tenacity.”
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