N3.3 Trillion Dividend Payout: Dangote Cement Raises the Bar for Africa

…Investments top $8.5 billion as company pledges stronger growth, sustainability, and continental expansion

L-R: Group Chief Financial Officer, Dangote Cement Plc, Gbenga Fapohunda; Company Secretary, Dangote Cement Plc, Edward Imoedemhe; Group Chief Branding & Communications Officer, Dangote Industries Limited, Anthony Chiejina; Group Managing Director/CEO, NGX, Temi Popoola; Chairman, Dangote Cement Plc, Emmanuel Ikazoboh; Group Chairman, NGX Group, Alhaji (Dr.) Umaru Kwairanga; CEO NGX, Jude Chiemeka; Board Member, Dangote Cement Plc, Mariya Dangote; Head, Primary Markets, NGX, Jude Ibeziako; Group Managing Director/CEO, Dangote Cement Plc, Arvind Pathak; Executive Director, CSCS Plc, Adeyinka Shonekan; Group Head Investor Relations, Dangote Industries Limited, Temilade Aduroja; Head, Trading and Products, NGX, Abimbola Babalola; during the introduction of the Dangote Cement Plc new Board Chairman and Directors to the floor of the NGX Stock Exchange, Lagos on Wednesday 10^th September, 2025

 

Dangote Cement Plc, Africa’s leading cement manufacturer, has reaffirmed its position as a pillar of shareholder value and continental growth, announcing that it has paid out over N3.3 trillion in dividends to investors in the past 15 years.

The announcement was made at the Nigerian Exchange (NGX) in Lagos on Wednesday during the company’s “Facts Behind the Figures” presentation, which doubled as the formal introduction of its new Board Chairman, Mr. Emmanuel Ikazoboh, who succeeded Alhaji Aliko Dangote.

Ikazoboh Pledges Stability and Growth

In his maiden address as chairman, Ikazoboh expressed gratitude to investors and stakeholders for their loyalty to the company through different economic cycles. He pledged to uphold the legacy of consistent returns while steering the company into a new era of innovation, sustainability, and continental leadership.

“To our investors, you have my unwavering commitment to safeguard and grow your investment. To regulators and market operators, you have my pledge of continued partnership and adherence to governance standards that lead rather than follow. And to our employees and partners, I give my assurance that our collective strength will propel us to even greater achievements,” Ikazoboh told shareholders.

He added that Dangote Cement remains committed to transforming Africa by making the continent self-sufficient in cement and clinker production, a vision that directly supports infrastructure development, industrialization, and job creation.

CEO Unveils Expansion Blueprint

Building on this vision, the company’s Chief Executive Officer, Arvind Pathak, presented a bold roadmap for expansion. Dangote Cement plans to increase its installed production capacity to 66.4 million tonnes per annum (Mta) by 2030, driven by both greenfield and brownfield projects.

Among the highlights of the expansion plan:

• Commissioning of the first phase (1.5Mta) of its 3Mta Côte d’Ivoire plant.
• Ongoing construction of a 6Mta integrated Itori Plant in Ogun State, Nigeria.
• A $400 million investment in Ethiopia to double production capacity in one of its key markets.

Pathak emphasized that these efforts are not just about scale but also about ensuring Africa reduces its reliance on imports:

“Over the past 15 years, Dangote Cement has committed more than $8.5 billion in capital investments across Africa, underscoring our long-term confidence in the region’s growth prospects,” he said.

Recognition from Capital Market Leaders

At the event, leaders of Nigeria’s capital market hailed the company’s role in deepening investor confidence and supporting economic growth.

The Group Chairman of NGX, Alhaji (Dr.) Umaru Kwairanga, praised Aliko Dangote for using the capital market to democratize wealth creation. “He has shown that wealth can be created but also transferred to the public through the capital market,” Kwairanga remarked.

Group Managing Director/CEO of NGX, Temi Popoola, expressed confidence in the new leadership, assuring shareholders that the appointment of Ikazoboh as chairman would bring continuity, good governance, and sustained profitability.

Strong Dividend Policy Despite Challenges

Dangote Cement has consistently prioritized shareholder returns. At its 2024 Annual General Meeting (AGM), shareholders approved a N502.6 billion dividend payout, translating to N30 per share—a record in Nigeria’s manufacturing sector.

Remarkably, this came in a year marked by foreign exchange volatility, inflationary pressures, and rising operational costs. Yet, the company managed to deliver robust earnings and dividends, reinforcing its reputation for resilience.

Shareholders Applaud Leadership

Investor groups were full of praise for the management’s performance.

• Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), noted:
  “2024 was very challenging due to forex fluctuations and expansion programmes. But despite these challenges, Dangote Cement still paid us a very good dividend and gave us hope of better returns in the years to come. This is commendable.”
• Mrs. Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, emphasized the company’s unmatched leadership in corporate governance and shareholder returns:
  “The earnings are not even up to N30 per share, and yet the company still declared N30 per share dividend. That speaks volumes of the quality of leadership in Dangote Cement. We are proud to be part of this success story.”

Beyond Profits: Impact on Communities

In addition to shareholder rewards, Dangote Cement has deepened its corporate social responsibility (CSR) footprint. The company grew its social investment spending by 469.8% to N3.2 billion in 2024, channeling funds into:

• Education
• Healthcare
• Agriculture
• Infrastructure development
• Economic empowerment

These interventions reflect Dangote Cement’s belief in inclusive growth, where communities directly benefit from its success.

Looking Ahead

As Dangote Cement ushers in a new leadership era, the company is positioning itself not only as Africa’s cement giant but also as a driver of industrialization, economic empowerment, and sustainable growth.

With over N3.3 trillion paid in dividends to shareholders, $8.5 billion invested across Africa, and ambitious plans to scale capacity to 66.4Mta by 2030, Dangote Cement is signaling that its story is far from being just about cement, it is about shaping the future of Africa.

Key Takeaway: Dangote Cement’s success lies not only in record-breaking dividends but in its long-term commitment to transforming Africa’s industrial landscape while rewarding its shareholders and communities.

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