Dangote Cement Plc has received shareholder approval to pay a final dividend of N30 per ordinary share for the financial year ended December 31, 2024, amounting to a total payout of N506.21 billion.
The resolution was passed at the company’s 16th Annual General Meeting (AGM) held on June 23, 2025, in Lagos, with 353 out of 360 shareholders voting in favor of the proposal.
The dividend represents a 6.81% yield based on the current market price of N440 per share, reinforcing the company’s position as one of Nigeria’s top dividend-paying blue-chip stocks.
During the AGM, shareholders also approved the reappointment of five directors who retired by rotation, including Aliko Dangote, Ernest Ebi, Viswanathan Shankar, Cherie Blair, and Douraid Zaghouani.
Additionally, shareholders ratified the proposed annual remuneration of N20 million for the Chairman and N15 million each for non-executive directors for the financial year ending December 31, 2025.
Aliko Dangote Highlights Export Growth
Speaking at the AGM, Chairman Aliko Dangote hailed Nigeria’s growing dominance in the continental cement market:
“This year, Nigeria has become the largest exporter of cement across Africa. We’ve gone from being a major importer to now outpacing every other African country in exports.”
He also reiterated the company’s strategic goals moving forward:
“Our focus is on reducing production and foreign exchange costs, expanding our market share, and driving stronger export performance.”
Dangote Cement’s Q1 2025 report revealed robust financial performance, with:
- Revenue rising to N994.6 billion, up from N817.3 billion in Q1 2024.
- Gross profit standing at N587.3 billion, despite a slight 2.29% increase in cost of sales to N407.2 billion.
- Profit after tax surging by 85.71% to N209.2 billion.
The company identified fuel and power as the largest contributor to production costs (43.5%), followed by raw materials (21.3%), with other costs including plant maintenance and staff expenses.
As of March 31, 2025, Dangote Cement reported:
- Total assets of N6.4 trillion
- Retained earnings of N1.2 trillion, reflecting a 20.74% increase from N1.02 trillion at the end of 2024.
The company confirmed that the approved N30 dividend will be paid from these retained earnings.
Since 2018, Dangote Cement has consistently maintained high dividend payouts:
- N16/share from 2019 to 2022
- N20/share in 2023
- N30/share maintained for both 2023 and now 2024
This consistency underscores the company’s strong cash flow and commitment to delivering shareholder value.
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