Dangote Cement pays N3.3trn dividends in 15 years, sets sights on African self-sufficiency

Dangote Cement Plc has paid over N3.3 trillion in dividends to its shareholders in the last 15 years, reinforcing its position as one of Nigeria’s most rewarding listed companies, the company said.

The disclosure was made on Wednesday during the company’s “Facts Behind the Figures” presentation at the Nigerian Exchange (NGX), where the new chairman, Mr. Emmanuel Ikazoboh, led the management and board to update the market on its performance and future plans.

Ikazoboh, who recently succeeded Aliko Dangote as chairman, expressed gratitude to investors for their loyalty and pledged to safeguard their returns. He reaffirmed the company’s vision of making Africa self-sufficient in cement and clinker production.

“To our investors, you have my unwavering commitment to safeguarding and growing your investment. To our regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow,” Ikazoboh said.

Chief Executive Arvind Pathak outlined Dangote Cement’s growth strategy, revealing plans to expand installed capacity to 66.4 million tonnes annually (Mta) by 2030 through a mix of greenfield and brownfield projects.

He disclosed that the company had commissioned the first phase of its Côte d’Ivoire plant (1.5Mta of a 3Mta project), while construction of the 6Mta Itori Plant in Ogun State is progressing. Additionally, Dangote Cement has committed $400 million to double its capacity in Ethiopia.

Over the past 15 years, the cement giant has invested more than $8.5 billion across Africa, underscoring confidence in the region’s growth potential.

At the NGX event, Alhaji Umaru Kwairanga, Group Chairman of NGX, praised Aliko Dangote’s contributions to Nigeria’s capital market, noting his model of transferring wealth creation to the public through shareholding. NGX Group CEO Temi Popoola also lauded the appointment of Ikazoboh, saying it would further strengthen investor confidence.

Shareholders have consistently applauded the company’s returns. At the 2024 Annual General Meeting, they approved a dividend of N502.6 billion (N30 per share), making Dangote Cement the highest dividend-paying manufacturing company in Nigeria that year.

Despite economic headwinds, including foreign exchange volatility, shareholders’ groups such as the Association for the Advancement of Rights of Nigerian Shareholders (AARNS) and the Pragmatic Shareholders Association commended the company’s resilience.

“For the company to still pay us a very good dividend and give hope of better returns despite the challenges shows its dogged entrepreneurial spirit,” said AARNS President Faruk Umar.

The company also boosted its corporate social responsibility spending by 469.8% to N3.2 billion in 2024, with investments spanning education, healthcare, agriculture, infrastructure and economic empowerment.

With a strong track record of dividend payouts, expansion projects across Africa, and growing social investments, Dangote Cement is positioning itself not only as a market leader but also as a key driver of the continent’s industrial self-sufficiency.