*Dangote Cement Plc says the company’s commitment to paying strong dividends reflects its robust financial performance, commitment to value creation, and dedication to delivering sustainable value to shareholders

Alexander Davis | 绿帽献妻

Africa鈥檚 largest cement producer, Dangote Cement Plc has been named the ‘Dividend Paying Company of the Year’ at the inaugural Nairametrics Capital Market Choice Awards, held weekend, in Lagos.

According to the organisers, the awards鈥� ceremony, themed 鈥淐apital Market as a Catalyst for Nigerian Economic Transformation鈥�, celebrated companies making significant contributions to the country鈥檚 economic progress.

Dangote Cement was awarded the Dividend Paying Company of the Year, ahead of other nominees, including Nigerian Aviation Company and Airtel Africa鈥攔ecognising its record of solid shareholder returns.

Dangote Group, in a statement, said the company had established a strong reputation for rewarding its shareholders with consistent and robust dividends.

Speaking on the award, Temilade Aduroja, Group Head, Investor Relations at Dangote Group, said: 鈥淥ur commitment to paying strong dividends reflects our robust financial performance, commitment to value creation, and dedication to delivering sustainable value to our shareholders. “It reinforces trust, rewards long-term investment, and signals discipline in capital allocation.鈥�

A review of Dangote Cement鈥檚 annual reports and accounts indicated that since 2018, the company has paid above N10 per share as dividend, increasing the payout to N16 per share and sustaining it through 2022.

In 2023, the dividend rose to N20 and was later raised to N30 for the 2023 financial year.

The Board of Directors for the financial year ended December 31, 2024, proposed a dividend of N30 per share subject to the approval of shareholders.

It should be noted that Dangote Cement recently, emerged as the Platinum Award Winner of the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Limited (NGX REGCO) Corporate Reporting Award.

Organised by ICAN-NGX REGCO, the event celebrated excellence in corporate transparency and governance, with other notable winners, including MTN Nigeria, Seplat Energy, Stanbic IBTC Holdings, GTCO, Zenith Bank, United Bank for Africa, and International Breweries Plc.

According to the Corporate Reporting Award guidelines issued by ICAN-NGX REGCO, 30 listed companies were evaluated across three key categories with marks allotted for compliance. The categories and allotted marks are financial reporting with 35 percent, corporate governance allotted 30 percent and sustainability reporting allotted 35 percent.

The awards were ranked in Platinum, Gold and Silver categories.

Dangote Cement is Africa’s leading cement producer with 52.0Mta capacity across Africa.

The conglomerate is a fully-integrated, quarry-to-customer producer with a production capacity of 35.25Mta in its home market, Nigeria.

Dangote further stated that Obajana plant, in Kogi state, is the largest in Africa with

16.25Mta of capacity across five lines; Ibese plant, in Ogun State, has four cement lines with a combined installed capacity of 12Mta; Gboko plant in Benue state has 4Mta; and Okpella plant in Edo State has 3Mta.

The Group revealed the company is building a new six million tonnes per annum cement plant, in Itori, Ogun State.

Dangote Cement Plc, through recent investments, noted it has eliminated Nigeria’s dependence on imported cement, and has transformed the country into an exporter of cement and clinker, serving neighbouring countries.