Dangote pays over N3.3trn dividends in 15 years

Dangote Cement Plc has rewarded its shareholders with more than N3.3 trillion in dividends over the past 15 years, in addition to significant capital appreciation on its stock.

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

Ikazoboh expressed gratitude to shareholders for their unwavering support and assured them of sustained strong returns. He reaffirmed the company’s vision of making Africa self-sufficient in cement and clinker production, while also committing to uphold world-class governance standards. According to him, investors can remain confident that their investments will be protected and grown, regulators will continue to enjoy strong partnerships, and employees and partners can be assured that the company’s collective strength will drive new achievements.

Chief Executive Officer, Arvind Pathak, also spoke on the company’s growth trajectory, revealing that Dangote Cement intends to expand its installed capacity to 66.4 million tonnes annually by 2030 through a mix of greenfield and brownfield projects.

He noted that the company has already commissioned the first phase of its 3 million tonnes per annum Côte d’Ivoire plant, advanced construction on the 6 million tonnes per annum integrated Itori Plant in Ogun State, and announced a $400 million investment in Ethiopia to double its production capacity.

Pathak emphasized that Dangote Cement has invested over $8.5 billion in capital projects across Africa in the last 15 years, a clear demonstration of its confidence in the continent’s growth potential.

Leaders of the Nigerian Exchange Group, including its Group Chairman, Alhaji Umaru Kwairanga, and Chief Executive Officer, Temi Popoola, lauded the company’s contributions to Nigeria’s capital market and private sector development.

They praised Aliko Dangote’s legacy as former chairman while expressing optimism that the new leadership under Ikazoboh would sustain shareholder value.

At its last Annual General Meeting, the company’s shareholders approved a dividend payout of N502.6 billion for the 2024 financial year, representing N30 per share, the highest declared by any manufacturing company in Nigeria during the year under review.

Beyond financial rewards, Dangote Cement also increased its corporate social responsibility spending by nearly 470 per cent to N3.2 billion, with investments spanning education, healthcare, agriculture, infrastructure, and economic empowerment.

Shareholder associations commended the company’s resilience and consistency despite challenging economic conditions. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders, praised management’s doggedness in maintaining robust dividends despite the impact of foreign exchange fluctuations and expansion-related costs.

Similarly, Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, described the company’s performance as a rare feat, noting that declaring N30 per share despite earnings not reaching that figure underscored the strength of its leadership.

With its ambitious expansion drive, consistent dividend history, and strong governance under new leadership, Dangote Cement has once again reinforced its status as a market leader and a driving force in Africa’s industrial and economic growth.