Dangote Cement Plc has distributed N3.3 trillion in dividends to its shareholders over the past 15 years, as announced during its “Facts Behind the Figures” presentation at the Nigerian Exchange Ltd. (NGX) in Lagos on Wednesday.
Emmanuel Ikazoboh, who recently succeeded Alhaji Aliko Dangote as Chairman, emphasized the company’s commitment to delivering consistent returns.
“Over the last 15 years, we have rewarded our shareholders with N3.3 trillion in dividends, and we remain dedicated to ensuring sustained value for your investments,” Ikazoboh stated.
He further pledged to uphold strong governance and foster partnerships, saying, “To our investors, regulators, and partners, I assure you of my commitment to growing your investments while maintaining exemplary standards.”
Looking ahead, Group CEO Arvind Pathak outlined ambitious expansion plans, targeting an installed capacity of 66.4 million tonnes per annum by 2030 to bolster Africa’s self-sufficiency in cement and clinker production.
“Our growth strategy includes both greenfield and brownfield projects,” Pathak noted, highlighting recent milestones such as the commissioning of a 1.5Mta phase of the 3Mta Côte d’Ivoire plant and progress on the 6Mta Itori plant.
He also revealed a $400 million investment to double production capacity in Ethiopia, adding, “Our $8.5 billion investment across Africa reflects our confidence in the region’s potential.”
NGX Group Chairman Dr. Umaru Kwairanga praised Alhaji Aliko Dangote for his transformative impact on Nigeria’s capital market, noting, “Dangote has shown how wealth can be created and shared through the capital market.”
He highlighted Dangote Cement’s listing on the NGX Premium Board, reserved for companies with top-tier governance standards, and its significant market presence, contributing nine percent to the Exchange’s over N88 trillion capitalization.
NGX CEO Jude Chiemeka lauded Dangote Cement as a standout performer, stating, “Since its listing in 2010, the company has been a leader in dividend payments and has contributed over N520 billion in taxes to the Federal Government.” Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders, expressed optimism about the company’s performance despite challenges like foreign exchange fluctuations.
“We are thrilled with the dividends and confident in future returns,” Umar remarked.
Dangote Cement’s strategic investments and robust financial performance continue to position it as a cornerstone of Nigeria’s capital market, with a clear focus on growth and shareholder value. (NAN)
