By Ayomide Otitoju
Shareholders of Dangote Cement Plc have approved a final dividend of ₦30 per share for the 2024 financial year, amounting to a total distribution of ₦506.21 billion. The dividend represents a yield of 6.81%, based on the current market price of ₦440 per share.
The approval came at the company’s 16th Annual General Meeting (AGM) held on June 23, 2025, in Lagos, where 353 out of 360 shareholders voted in favour of the payout. The latest dividend sustains the upward momentum in shareholder returns, with the company consistently paying above ₦10 per share since 2018 and raising it to ₦30 in the 2024 fiscal year.
During the AGM, board members Aliko Dangote, Ernest Ebi, Viswanathan Shankar, Cherie Blair, and Douraid Zaghouani were reappointed following their scheduled retirement by rotation. Shareholders also ratified an annual remuneration of ₦20 million for the Chairman and ₦15 million each for non-executive directors for the 2025 fiscal year.
According to the company’s Q1 2025 results, revenue surged to ₦994.6 billion, a 21.7% increase from ₦817.3 billion recorded in the corresponding quarter of 2024. Gross profit rose to ₦587.3 billion, while profit after tax climbed 85.71% to ₦209.2 billion, despite a modest 2.29% rise in cost of sales, which stood at ₦407.2 billion.
Fuel and power costs accounted for the largest portion of production expenses at 43.5%, followed by raw materials (21.3%), with additional contributions from salaries, depreciation, and plant maintenance.
On the balance sheet, total assets stood at ₦6.4 trillion, while retained earnings increased by 20.74% to ₦1.2 trillion, up from ₦1.02 trillion as of December 2024.
In his address, Chairman Aliko Dangote celebrated Nigeria’s emergence as Africa’s top cement exporter:
“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 added that the company remains focused on reducing production costs, expanding market share, and driving stronger export performance across the continent.
