Dangote Cement pays over N3.3trn dividends in 15 years

Dangote Cement Plc says it paid over N3.3 trillion in dividends to shareholders over the last 15 years.  Board Chairman of Dangote Cement, Emmanuel Ikazoboh, disclosed this on the floor of the Nigerian Exchange on Wednesday, during the “Facts Behind the Figure” presentation. Ikazobor, who just assumed the position of the chairman from Aliko Dangote, […]

Dangote Cement Plc says it paid over N3.3 trillion in dividends to shareholders over the last 15 years. 

Board Chairman of Dangote Cement, Emmanuel Ikazoboh, disclosed this on the floor of the Nigerian Exchange on Wednesday, during the “Facts Behind the Figure” presentation.

Ikazobor, who just assumed the position of the chairman from Aliko Dangote, thanked the shareholders for standing by the company, while also assuring them of consistent good returns on their investments.

He said Dangote Cement remains resolute in transforming Africa by creating sustainable value for all its stakeholders, as it will do all to achieve its vision of making Africa self-sufficient in cement and clinker. 

He said: “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. To our employees and partners, you have my gratitude and my assurance that our collective strength will propel us to achievements we haven’t yet imagined.”

Speaking further on the future of the company, the Chief Executive, Arvind Pathak, said: “We aim to expand installed capacity to 66.4Mta by 2030, supporting our long-term vision of making Africa self-sufficient in cement and clinker production. This growth will be driven by a mix of greenfield and brownfield projects.”

He revealed that the company has commissioned the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant, while construction of the 6Mta integrated Itori Plant continues to advance steadily. In addition, the company, according to him, has announced a $400 million investment to double its production capacity in Ethiopia.

He said: “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.”

The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga praised the President/Chief Executive, Dangote Group, Aliko Dangote, for his substantial contributions to the Nigerian capital market and private sector development.

He said the former Chairman of Dangote Cement, who is also his mentor, has clearly shown that wealth can be created but also transferred to the public through the capital market.