Shareholders of Dangote Cement Plc have earned more than N3.3 trillion in dividends over the past 15 years, alongside significant capital gains from the stock, the company disclosed during its “Facts Behind the Figures” presentation at the Nigerian Exchange (NGX) on Wednesday.
The session was led by the company’s new Chairman, Mr. Emmanuel Ikazoboh, who recently succeeded Aliko Dangote. He praised shareholders for their loyalty and pledged consistent returns.
“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,” Ikazoboh said.
Chief Executive Officer, Arvind Pathak, outlined an ambitious growth plan to raise installed capacity to 66.4Mta by 2030, through a mix of greenfield and brownfield projects. He confirmed:
Commissioning of the first phase (1.5Mta) of the 3Mta Côte d’Ivoire plant.
Steady progress on the 6Mta Itori integrated plant in Ogun State.
A $400 million investment to double production capacity in Ethiopia.
Pathak added that Dangote Cement has invested more than $8.5 billion across Africa over the last 15 years, underscoring its long-term confidence in regional growth.
At its 2024 Annual General Meeting (AGM), shareholders approved a record N502.6 billion dividend payout, equivalent to N30 per share — the highest among Nigerian manufacturing firms. The company also ramped up its social investments by nearly 470% to N3.2 billion, with projects spanning education, healthcare, agriculture, infrastructure, and empowerment.
Market leaders also lauded the company’s performance. Alhaji Umaru Kwairanga, Chairman of NGX Group, praised Aliko Dangote for his contribution to Nigeria’s capital market, while NGX Group CEO, Temi Popoola, expressed confidence in Ikazoboh’s leadership.
Shareholder groups welcomed the payout despite economic headwinds. Faruk Umar, President of AARNS, said:
“For the company to still pay a robust dividend despite forex volatility and expansion costs shows the doggedness of the management.”
Similarly, Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, commended the company’s governance:
“For earnings not up to N30 per share and yet to still declare N30 per share dividend speaks volumes of the leadership quality we are fortunate to have.”
