Shareholders reap big as Dangote Cement pays N3.3tn in dividends, expands across Africa

Shareholders reap big as Dangote Cement pays N3.3tn in dividends, expands across Africa

Dangote Cement Plc has announced the payment of over N3.3 trillion in dividends to shareholders over the last 15 years, reinforcing its reputation as one of Nigeria’s most profitable and shareholder-friendly companies.
The disclosure was made during the “Facts Behind the Figures” presentation held at the Nigerian Exchange (NGX) in Lagos, led by the newly appointed Chairman of Dangote Cement Plc, Mr. Emmanuel Ikazoboh.

Ikazoboh succeeds Aliko Dangote, who stepped down from the role earlier this year.
The new chairman expressed deep appreciation to shareholders for their unwavering support over the years and pledged to continue delivering strong returns.
“To our investors, you have my unwavering commitment to safeguarding and growing your investment,” he said.

“To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow.”
He reiterated the company’s long-term goal of making Africa self-sufficient in both cement and clinker production, emphasizing that Dangote Cement will continue to invest heavily across the continent to achieve this mission.

Aggressive expansion strategy 
The company’s Group Managing Director and CEO, Arvind Pathak, disclosed that Dangote Cement is targeting an installed capacity of 66.4 million metric tonnes per annum (Mta) by 2030.
“This growth will be driven by a combination of greenfield and brownfield projects,” Pathak noted.
Among recent milestones, Pathak announced the successful commissioning of the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant, while construction continues at the 6Mta Itori plant in Nigeria. Additionally, the company has earmarked $400 million to double its production capacity in Ethiopia.

Over the past 15 years, Dangote Cement has invested more than $8.5 billion in capital projects across Africa, underlining its long-term commitment to regional development.

Capital market leaders laud company’s impact

At the event, the Group Chairman of NGX Group, Dr. Umaru Kwairanga, lauded Aliko Dangote for his contributions to the Nigerian capital market and private sector development.

“Alhaji Dangote has demonstrated that wealth can be created and shared through the capital market, benefiting countless Nigerians,” Kwairanga said.

The NGX Group CEO, Temi Popoola, also commended the company’s strong governance and shareholder focus, expressing confidence in the leadership of Mr. Ikazoboh.

2024 dividend and social impact

At its 2024 Annual General Meeting (AGM), shareholders approved a dividend payout of N502.6 billion, translating to N30 per share—the highest by any manufacturing company in Nigeria for the year.

Beyond financial performance, the company also grew its corporate social responsibility (CSR) investments by 469.8%, spending N3.2 billion on projects in education, healthcare, agriculture, infrastructure, and economic empowerment.

Shareholders give satisfaction

Prominent shareholder advocacy groups expressed satisfaction with the company’s performance and leadership.

Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), praised Dangote Cement’s resilience amid economic challenges such as forex volatility and inflation.

“Despite a tough economic climate, the company paid a robust dividend, showing true entrepreneurial strength,” he said.

Chairperson of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, also commended the company’s commitment to shareholder value.

“Even when earnings per share didn’t match the N30 dividend, the company still delivered. That speaks volumes about the integrity and commitment of the leadership,” she said.