•As Shareholders hail Aliko Dangote, board for bold leadership, robust returns despite economic headwinds
In a historic financial performance, Dangote Cement Plc has recorded its highest-ever earnings before interest, taxes, depreciation, and amortisation (EBITDA), crossing the trillion-naira threshold with a remarkable N1.38 trillion, representing a 56 per cent year-on-year increase.
The cement giant also posted a 62.2 per cent rise in revenue, hitting N3.58 trillion, driven by effective pricing strategies and a strong rebound in demand across key markets, especially Nigeria.
The company’s earnings per share also surged by 12.3 per cent, rising to N29.74 from N26.47 recorded in 2023.
The strong financial performance paved the way for a generous dividend payout of N30 per share, amounting to N502.6 billion, which received unanimous approval from shareholders at the company’s Annual General Meeting in Lagos.
The dividend represents one of the highest paid by any Nigerian company this year.
Aliko Dangote, Chairman of the company, attributed the record-breaking performance to strategic planning, operational efficiency, and robust demand.
“Our performance is underpinned by our commitment to building large, modern, and efficient plants that produce high-quality cement at lower costs,” he said.
Dangote revealed that the company is on track to commission a new 3 million tonnes per annum (MTA) grinding plant in Côte d’Ivoire this year and a 6MTA integrated plant in Itori, Ogun State.
These expansions are expected to further solidify the company’s market leadership across Africa.
As part of its environmental and cost-saving initiatives, the company has acquired 1,500 compressed natural gas (CNG) trucks to replace diesel-powered vehicles, with plans to double the fleet to 3,000, Dangote said.
Beyond financial results, Dangote Cement significantly ramped up its corporate social responsibility (CSR) activities, spending N13.2 billion in 2024, a 469.8 per cent increase from the previous year.
The CSR investments spanned education, healthcare, agriculture, infrastructure, and economic empowerment, reinforcing the company's commitment to sustainable development.
Reacting to the impressive results, Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), praised the leadership of Aliko Dangote and his team. “Despite the fluctuations in the foreign exchange market and ongoing expansion costs, the company delivered exceptional value. This is a reflection of their resilience and entrepreneurial spirit,” he said.
According to Umar, “The fact that we are getting N30 dividend per share in such a challenging year is highly commendable.
“It gives us confidence in the company’s future and justifies our continued investment.”
Mrs Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, also commended the company for its consistency in rewarding investors.
“Even when the earnings per share are slightly below N30, Dangote Cement still declares N30 as a dividend.
“That speaks volumes about the company’s commitment to shareholder value,” she said.
She added that among manufacturing companies in Nigeria, Dangote Cement paid the highest dividend in the year under review, and continues to demonstrate best practices in corporate governance and leadership.
“Our company is a shining example of what visionary leadership can achieve in Nigeria’s manufacturing sector,” Bakare said.
Dangote reaffirmed the company’s mission to be the undisputed leader in cost, quality, and service across every country of operation.
“With continuous investment in innovation, efficiency, and sustainability, we are building not just a company, but a legacy of excellence for future generations,” he stated.
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