2024: Dangote Cement spends N13.2 Billion on CSR; pays N502.6 Billion as dividends 

Shareholders of Dangote Cement on Monday have been stuffed with reward for the Board, Administration, and employees of the corporate after approving a dividend payout of N502.6 billion, which interprets to N30 kobo per share on the 2024 Annual Common Assembly, held in Lagos on Monday.

In the identical vein, the corporate additionally considerably elevated its social investments by 469.8 per cent to N13.2 billion. The company social duty (CSR) actions have been in schooling, healthcare, agriculture, infrastructure, and financial empowerment.

President of the Affiliation for the Development of Rights of Nigerian Shareholders (AARNS), Faruk Umar, stated the shareholders have been happy with Aliko Dangote and his crew. He stated, for the corporate to nonetheless pay a strong dividend regardless of the plain financial challenges, which additionally affected their operations, reveals the doggedness and preventing entrepreneurial spirit of the Administration.

In keeping with him, “We’re pleased with this consequence. 2024 was very difficult because of the fluctuations within the international trade market and the corporate’s growth programme. However regardless of all these challenges, the corporate was nonetheless capable of pay us an excellent dividend and even gave us hope of higher returns on our investments within the years to come back. That is very commendable, and it is just an organization like Dangote Cement that may obtain this laudable feat.”

Chairperson of the Pragmatic Shareholders Affiliation of Nigeria, Mrs. Bisi Bakare, additionally recommended the corporate’s constant dividend fee, noting that the Firm is shifting in one of the best ways of company governance. “As a shareholder and an acute investor of this firm, I’m very completely satisfied and happy with the efficiency of our firm thus far. The earnings will not be even as much as N30 per share, and for the corporate to nonetheless declare N30 per share dividend speaks volumes of the standard of management that we’re fortunate to have in Dangote Cement…It must also be famous that Dangote Cement is the one manufacturing firm that paid the very best dividend within the yr beneath overview. So, we’re completely satisfied and really proud to be a part of this firm.”

Chairman of the corporate, Aliko Dangote, whereas presenting the stories to the shareholders, stated the corporate’s technique in each nation of operation is to be the chief in value, high quality, and repair. He stated the corporate builds giant, fashionable, extremely environment friendly vegetation that mix the newest tools from Europe, China, and past to allow it to make higher-quality cement at decrease prices, thereby giving it sturdy aggressive benefits.

In keeping with him: “We achieved a N3,580.6 billion revenues, representing a 62.2 per cent year-on-year development, pushed by efficient pricing methods and robust demand restoration in key markets, significantly Nigeria. Group EBITDA reached an all-time milestone of N1,382.0 billion, crossing the N1 trillion mark for the primary time.”

Dangote additional revealed that the corporate is about to fee a 3MTA grinding plant in Cote D’Ivoire, this yr, in addition to a 6MTA built-in plant in Itori, Ogun State. He stated one other main milestone was the acquisition of 1,500 compressed Pure Gasoline (CNG) vans to switch diesel-fueled automobiles, thereby contributing to each value financial savings and environmental impression. Plans, in accordance with him, are underway to double the fleet to three,000 vans.