Dangote Cement Plc says it has paid more than N3.3 trillion in dividends to shareholders in the last 15 years, in addition to strong capital gains from its stock.
The company’s new Chairman, Mr. Emmanuel Ikazoboh, disclosed this on Wednesday during a “Facts Behind the Figures” presentation at the Nigerian Exchange (NGX), where he assured investors of sustained good returns. Ikazoboh, who recently succeeded Aliko Dangote, pledged to uphold corporate governance standards and create long-term value for stakeholders.
Chief Executive Officer, Arvind Pathak, said Dangote Cement plans to raise its installed capacity to 66.4Mta by 2030 through greenfield and brownfield projects. He noted that the company has completed the first phase of its Côte d’Ivoire plant, is advancing work on the 6Mta Itori Plant in Nigeria, and has committed $400 million to expand operations in Ethiopia.
Pathak added that the company has invested over $8.5 billion in capital projects across Africa over the past 15 years, underscoring confidence in the region’s long-term growth.
At its 2024 Annual General Meeting, shareholders approved a dividend payout of N502.6 billion (N30 per share), the highest in Nigeria’s manufacturing sector. The company also boosted its corporate social responsibility (CSR) spending by 469.8% to N3.2 billion, targeting education, healthcare, agriculture, and infrastructure.
Shareholder groups, including the Association for the Advancement of Rights of Nigerian Shareholders (AARNS) and the Pragmatic Shareholders Association of Nigeria, praised the company’s resilience and consistent dividend payments despite economic headwinds.
