Dangote Cement chairman says shareholders received N3trn dividends in 15 years

Dangote Cement says its shareholders have received over N3.3 trillion in dividends over the past 15 years, alongside significant capital gains from the appreciation of the company’s stock.

Emmanuel Ikazoboh, the company’s new chairman, announced the figures on Wednesday at the Nigerian Exchange (NGX) Limited during the ‘Facts Behind the Figures’ presentation.

Ikazoboh, who recently took over from Aliko Dangote, assured investors of continued returns while pledging to uphold the company’s vision of transforming Africa through self-sufficiency in cement and clinker.

He said Dangote Cement remains resolute in transforming Africa by creating sustainable value for all its stakeholders.

“To our investors, you have my unwavering commitment to safeguarding and growing your investment,” he said.

“To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow.”

Speaking also at the meeting, Arvind Pathak, chief executive officer (CEO) of Dangote Cement, outlined the company’s expansion drive, which targets an installed capacity of 66.4 million tonnes per annum (Mta) by 2030.

Pathak said the growth will be achieved through a mix of greenfield and brownfield projects across Africa.

The CEO added that the firm has completed the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant, and is advancing construction of a 6Mta integrated plant in Itori, Ogun state.

He said Dangote Cement has also committed $400 million to double capacity in Ethiopia.

“Over the past 15 years, DCP has committed more than $8.5 billion in capital investments across Africa, underscoring our long-term confidence in the region’s growth prospects,” Pathak added.

At the event, Umaru Kwairanga. chairman of the NGX Group, hailed Aliko Dangote for his contributions to Nigeria’s capital market and private sector.

Kwairanga described him as “a mentor who has shown that wealth can be created and transferred to the public through the market”.

Temi Popoola, group managing director (GMD) and chief executive officer (CEO) of NGX Group, expressed confidence in the new board led by Ikazoboh, saying shareholders can expect sustained value.

Faruk Umar, president of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), said the dividend payout, despite economic headwinds, showed the resilience of the management.

Bisi Bakare, chairperson of the Pragmatic Shareholders Association of Nigeria, praised the company’s governance practices.

Earlier this year, Dangote Cement shareholders approved a N502.6 billion dividend for 2024, translating to N30 per share — the highest declared by any manufacturing company in Nigeria during the year.