Dangote Cement pays N1trn dividends in 7 years

Dangote Cement said it has grown the wealth of its shareholders, paying over N 1 trillion as dividends in the past seven years. The Group Chief Financial Officer, Mr. Guillaume Moyen, said the firm is focused on growing the Nigerian economy. The breakdown shows that N51.1 billion was paid in 2013, N119.3bn in 2014, N102.2bn […]

Dangote Cement said it has grown the wealth of its shareholders, paying over N 1 trillion as dividends in the past seven years.

The Group Chief Financial Officer, Mr. Guillaume Moyen, said the firm is focused on growing the Nigerian economy.

The breakdown shows that N51.1 billion was paid in 2013, N119.3bn in 2014, N102.2bn in 2015, N136.3bn in 2016, N144.8bn in 2017, N178.9bn in 2018 and N272.6bn in 2019.

Moyen, who disclosed this during the virtual Facts Behind the figures and Facts Behind Sustainability Report at the Nigerian Stock Exchange (NSE), said: “Arguably our biggest achievement to date is taking Nigeria from being a big importer of cement to being self-sufficient, and now an exporter.

“Since 2011, we have been enjoying robust volume growth; to be more specific, we have been growing at a compound annual growth rate of 13.4%.

“If we look at the last seven years, you will see that our EBITDA has increased by a CAGR of 9%.  We have paid over N1 trillion in dividends to shareholders in the last seven years.”

In his presentation, Group Chief Executive Officer, Michel Puchercos, said amidst the Covid-19 challenges, the company placed an emphasis on the health and safety of team members, customers, suppliers, and communities at large as a core value.

“In this context, we continue to provide superior services and deliver high quality products to our customers.

“We have spent $1.9 million in response to COVID-19 to ensure the safety and protection of our people, customers and communities.

“H1 Group EBITDA was slightly up, supported by strong operating performance in Nigeria and Pan-Africa amidst COVID-19 challenges. EPS was up 6.3 per cent at N7.45. We are fortunate to have resilient H1 2020 results amidst the impact of COVID-19.”