Shareholders of Dangote Cement Plc have received over N3.3 trillion in dividends over the past 15 years, alongside substantial capital appreciation of the cement stock. This significant achievement was highlighted during the “Facts Behind the Figure” presentation at the Nigerian Exchange last Wednesday, led by the new Chairman, Mr. Emmanuel Ikazoboh.
Ikazoboh, who recently took over from Aliko Dangote, expressed gratitude to shareholders for their support and assured them of consistent returns on their investments. He emphasized Dangote Cement’s commitment to transforming Africa by creating sustainable value for all stakeholders, aiming to make the continent self-sufficient in cement and clinker.
“To our investors, you have my unwavering commitment to safeguarding and growing your investment,” Ikazoboh stated. He also pledged continued partnership with regulators and market operators, and expressed gratitude to employees and partners for their collective strength.
Chief Executive Arvind Pathak outlined the company’s ambitious plans to expand installed capacity to 66.4 million tonnes per annum (Mta) by 2030, supported by both greenfield and brownfield projects. He announced the commissioning of the first phase of the 3Mta Côte d’Ivoire plant and ongoing construction of the 6Mta integrated Itori Plant. Additionally, a $400 million investment has been earmarked to double production capacity in Ethiopia.
Over the past 15 years, Dangote Cement has invested more than $8.5 billion across Africa, reflecting its long-term confidence in the region’s growth potential.
Alhaji (Dr.) Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group, praised Aliko Dangote for his contributions to the Nigerian capital market and private sector development, highlighting his role in wealth creation and public benefit through the capital market.
Temi Popoola, Group Managing Director and Chief Executive of the Nigerian Exchange Group, also commended the new management and board, expressing optimism for shareholder satisfaction under Ikazoboh’s leadership.
During the recent Annual General Meeting (AGM) for 2024, shareholders praised the board and management after approving a dividend payout of N502.6 billion, equating to N30 kobo per share. The company also increased its social investments by 469.8% to N3.2 billion, focusing on education, healthcare, agriculture, infrastructure, and economic empowerment.
Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), expressed satisfaction with the robust dividend despite economic challenges, praising the management’s resilience. He noted, “Despite fluctuations in the foreign exchange market and expansion programs, the company still provided a commendable dividend and hope for better returns in the future.”
Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, also lauded the consistent dividend payments, highlighting the company’s adherence to corporate governance standards. She remarked, “For the company to declare N30 per share dividend speaks volumes of the quality of leadership we have at Dangote Cement.”
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