Dangote Cement recently paid out a substantial N502.6 billion in dividends to its shareholders, which translates to N30 kobo per share, following approval at the company’s 2024 Annual General Meeting in Lagos.
Shareholders lauded the Board, Management, and staff for their commendable performance, acknowledging the company’s robust dividend payment and unwavering commitment to corporate governance despite the prevailing economic challenges.
This positive sentiment was echoed by prominent shareholder representatives like Faruk Umar of AARNS and Bisi Bakare of the Pragmatic Shareholders Association. Chairman Aliko Dangote highlighted the company’s impressive financial achievements, including a 62.2 per cent year-on-year revenue growth to N3.58 trillion, and a Group EBITDA that surpassed the N1 trillion mark for the first time, reaching N1.38 trillion.
Looking ahead, Dangote Cement plans to commission new grinding plants in Cote D’Ivoire and Ogun State, Nigeria, and acquire 3,000 Compressed Natural Gas (CNG) trucks to enhance efficiency and reduce environmental impact.
Additionally, the company significantly boosted its Corporate Social Responsibility (CSR) spending by an impressive 469.8 per cent to N13.19 billion, focusing these efforts on education, healthcare, agriculture, infrastructure, and economic empowerment.
