—- Vows to transform Africa by making it self – sufficient
Shareholders of Dangote Cement Plc have received over N3.3 trillion in dividends over the last fifteen years. Aside from Impressive dividends payout, the shareholders have significantly benefits from the capital appreciation of the cement stock.
The benefits to the shareholders were disclosed on the floor of the Nigerian Exchange on Wednesday, during the “Facts Behind the Figure” presentation by the Management and Board of Dangote Cement, which was ably led by the new Chairman, Emmanuel Ikazoboh.
Ikazoboh, 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 resolve in transforming Africa by creating sustainable value for all its stakeholders, as it will do 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 – operations, 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 66.4 Mta 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 ( 1.5 Mta) of its 3Mta Cote 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 contribution to the Nigerian Capital Market and Private sector development. He said the former Chairman of Dangote Cement, who also his mentor, has clearly shown that wealth can be created but also transferred to the public through the capital market.
Group Managing Director and Chief Executive of the Nigerian Exchange Group, Temi Popoola, also lauded the new Management and Board of Dangote Cement, noting that with Mr. Ikazoboh as Chairman, the shareholders will surely be happy.
It would be recalled that the shareholders of the company, in its last Annual General Meeting, for the year 2024, were full of praise for the Board, Management, and Staff of the Company after approving a dividend payout of N502.6 billion, which translated to N 30 per share.
The company, in the same vein, has significantly increased its investments by 469.8 per cent to N 3.2 billion . The corporate social responsibility ( CSR) activities were in education, healthcare, infrastructure, and economic empowerment.
President of Association for the Advancement of Rights of Nigerian Shareholders ( A A R N S ), Faruk Umar, said the shareholders were pleased with Aliko Dangote and his team. He said that for the Company to still pay a robust dividend despite the obvious economic challenges, which also affected their operations, shows doggedness and fighting entrepreneurial spirit with the Management. According to him, “We are happy with this result.
2024 was very challenging due to the fluctuations in the foreign exchange market and the company expansion programme. But despite all these challenges, the company was still able to pay us a very good dividend and even gave us hope of better returns on our investments in the years to come.
