Dangote Cement Plc has cemented its status as a pillar of the Nigerian capital market, revealing an astounding N3.3 trillion in dividends paid to shareholders over the last 15 years.
This monumental figure, disclosed during a “Facts Behind the Figure” presentation at the Nigerian Exchange (NGX), underscores the company's commitment to creating and sharing wealth with its investors.
Beyond the impressive payouts, shareholders have also benefited significantly from the continuous capital appreciation of the cement giant's stock.
The event marked a new chapter for the company as its new Chairman, Mr Emmanuel Ikazoboh, formally introduced himself and the board to the market.
Assuming the role of the company’s founder, Aliko Dangote, Ikazoboh expressed his gratitude to shareholders for their unwavering support and pledged to ensure their investments continue to yield consistent and robust returns.
“To our investors, you have my unwavering commitment to safeguarding and growing your investment,” Ikazoboh stated, assuring stakeholders of his dedication to preserving the company's legacy of excellence and profitability.
Dangote Cement’s ambition extends far beyond rewarding its shareholders.
The company remains steadfast in its vision to make Africa self-sufficient in cement and clinker production.
As articulated by the Chairman, this mission aims to transform the continent by creating sustainable value for all stakeholders.
The company’s long-term strategy, detailed by Chief Executive Arvind Pathak, significantly expands its production capacity.
“We aim to expand installed capacity to 66.4Mta by 2030,” Pathak announced, revealing a strategic plan driven by both new greenfield projects and the expansion of existing brownfield facilities.
Recent and ongoing projects illustrate this aggressive growth trajectory.
The first phase of a 3Mta plant in Côte d’Ivoire, with a 1.5Mta capacity, has already been commissioned.
Additionally, the construction of a 6Mta integrated Itori Plant in Nigeria is advancing steadily, poised to significantly bolster domestic supply.
Further solidifying its commitment to African growth, the company announced a substantial $400 million investment to double its production capacity in Ethiopia.
Over the past 15 years, the company has committed over $8.5 billion in capital investments across the continent, reflecting its profound confidence in Africa's economic prospects and its role as a key driver of infrastructure development.
The presentation was met with resounding praise from leaders of the Nigerian capital market.
Group Chairman of the NGX Group, Alhaji (Dr.) Umaru Kwairanga, lauded Aliko Dangote for his immense contributions to Nigeria's private sector and capital market.
He noted that Dangote’s leadership has demonstrated that wealth can be successfully created and then transferred to the public through the capital market, a key tenet of a healthy economy.
Temi Popoola, Group Managing Director and Chief Executive of the Nigerian Exchange Group, also commended the new leadership of Dangote Cement, expressing confidence that shareholders would continue to prosper under Mr Ikazoboh's chairmanship.
The positive sentiment was echoed by key shareholder associations.
Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), praised the company for its resilience and “fighting entrepreneurial spirit.”
He highlighted the company's ability to maintain a robust dividend payout despite the challenging economic climate and foreign exchange fluctuations in 2024.
The company's generous N502.6 billion dividend for the year, translating to N30 per share, was approved at its 2024 Annual General Meeting, much to the delight of investors.
Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, also commended the company's consistent dividend policy and strong corporate governance.
“Dangote Cement is the only manufacturing company that paid the highest dividend in the year under review,” Bakare noted, expressing immense pride in being an investor.
She highlighted that the dividend payout exceeded the company's earnings per share, a testament to the quality of its leadership and its commitment to shareholder value.
In addition to its financial success, Dangote Cement also significantly increased its social investments by a remarkable 469.8% to N3.2 billion, funding corporate social responsibility initiatives in education, healthcare, and economic empowerment, further solidifying its positive impact on the communities it serves.
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