Lagos: Dangote Cement Plc has announced the distribution of N3.3 trillion in dividends to its shareholders over the past 15 years. This declaration was made during the company’s ‘Facts Behind the Figures’ presentation at the Nigerian Exchange Ltd. (NGX) in Lagos.
According to News Agency of Nigeria, Mr. Emmanuel Ikazoboh, the newly appointed Chairman of Dangote Cement, who succeeded Alhaji Aliko Dangote, assured shareholders of continued returns on their investments. He emphasized the company’s commitment to making Africa self-sufficient in cement and clinker production. Ikazoboh pledged unwavering commitment to investors, regulators, market operators, employees, and partners, highlighting the company’s dedication to governance standards and collective growth.
Arvind Pathak, Chief Executive Officer of the Group, outlined the company’s future plans, stating the aim to expand installed capacity to 66.4Mta by 2030. This expansion will be fueled by a combination of greenfield and brownfield projects. Pathak mentioned the commissioning of the first phase of the 1.5Mta C´te d’Ivoire plant and the ongoing construction of the 6Mta integrated Itori plant. The company also announced a 400-million dollar investment to double production capacity in Ethiopia, reflecting its long-term confidence in Africa’s growth prospects. Over the past 15 years, Dangote Cement has invested more than $8.5 billion in capital across Africa.
Dr. Umaru Kwairanga, Group Chairman of the NGX, commended Alhaji Aliko Dangote for his contributions to the Nigerian capital market and private sector development. Kwairanga highlighted Dangote Cement’s position as a pride of the Nigerian capital market, listed on the Premium Board of the Exchange, and praised its consistent dividends and capital appreciation.
Mr. Jude Chiemeka, Chief Executive Officer of NGX Ltd., described Dangote Cement as a standout commercial entity on the Exchange due to its substantial dividend payments since its 2010 listing. He noted that the company had paid over 520 billion in taxes to the Federal Government and currently constitutes nine percent of the Exchange’s over N88 trillion market capitalization.
Mr. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), expressed satisfaction with the company’s financial performance. Despite challenges in 2024, including foreign exchange fluctuations and expansion efforts, the company delivered commendable dividends and promised better returns in the future.
