Shareholders laud DangCem on N30 dividend payout, Gear for sustained higher returns

• Lower Cement pricing with stabilizing FX regime

Chairman Dangote Cement Plc, Mr Aliko Dangote has assured shareholders and stakeholders of sustained improved performance and higher dividend payment.

The assurance was given by the chairman at the company’s 16th Annual General Meeting which held in Lagos, where the shareholders also approved the board’s proposed final dividend of N30.00 per share.

The shareholders also in the special business of the day, approved and re-elected retiring directors by rotation, they are Mr Aliko Dangote, non-executive director, Mr Ernest Ebi, independent non-executive director, Mr Viswanathan Shankar, re-elected as Non-executive Director, Mrs Cherie Blair, KC, Independent Non-executive Director and Mr Douraid Zaghouani, also re-elected as non-executive Director of Dangote Cement Plc.

Lauding the performance of Dangote Cement in 2024 financial year, fow which the shareholders approved the audited financial statement. Balogun Olugbon, Dr Faurouk Umar, Mrs Bisi Bakare amongst others who spoke at the meeting, lauded the commitment of Dangote Cement board and management towards constantly raising profitability levels and increasing dividend payout year on year.

Dr Umar, praised the company being a leading cement manufacture across Africa, for its sustained growth, operating across ten countries and ensuring the availability of cement in Nigeria and in all these countries of its operation, as well as sustaining a rich dividend payout.

Chairman of Dangote Cement, Aliko Dangote earlier in his address to shareholders, said Dangote Cement achieved strong results in 2024. “We achieved a N3,580.6 billion revenues, representing a 62.2% year-on-year growth, driven by effective pricing strategies and strong demand recovery in key markets, particularly Nigeria” Adding that Group EBITDA reached an all-time milestone of N1,382.0 billion, crossing the B1 trillion mark for the first time.

‘Our results reflect relentless focus on cost optimisation, operational efficiency, and value creation.

Despite challenges in foreign currency translation, our pan-African diversification provided a solid buffer against country specific headwinds. Strategic investments in alternative fuels and energy efficiency helped contain cost pressures, reinforce environ- mental responsibility and preserve profitability. Consequently, profit after tax rose 10.5% to N503.2 billion.

In light of this performance, he said, the Board of Directors is pleased to recommend a dividend of N30.00 per ordinary 50 kobo share for shareholders’ approval, a testament to our commitment to de- liver sustained returns.

This proposal reflects our confidence in the Group’s financial strength and resilience, even as we pursue an ambitious capital expenditure programme. Upon approval, the dividend will be payable to shareholders whose names are on the Company’s register at the close of business on 9th June 2025.