*Dangote Cement Group says the company’s earnings before interest, taxes, depreciation, and amortisation reach an all-time milestone of N1,382.0 billion, crossing N1 trillion mark with 56 percent increase for the first time

Isola Moses | 绿帽献妻

Dangote Cement Group has said the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA), for the first time, reached an all-time milestone of N1,382.0 billion, crossing the N1 trillion mark, an increase of 56 percent.

Dangote Group, in a statement, said likewise, Earnings Per Share (EPS) also increased by 12.3 percent to N29.74 as against 2023鈥檚 record of N26.47.

The conglomerate also stated that the shareholders unanimously, approved a dividend payout of N30 pershare to all investors, totaling N502.6 billion.

Chairman of the company, Aliko Dangote, while presenting the reports to the shareholders, said the company recorded a N3,580.6 billion revenue, representing a 62.2 percent year-on-year growth, and that the performance was driven by effective pricing strategies and strong demand recovery in key markets, particularly Nigeria.

The shareholders expressed their full praise for the Board, Management, and staff for the dividend, noting that the decision was in the best interest of the shareholders.

The company further said it significantly increased its Corporate Social Responsibility (CSR) by 469.8 percent to N13.2 billion.

The CSR activities were in education, healthcare, agriculture, infrastructure, and economic empowerment.

Commenting on the performance of the company, the President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Faruk Umar, said the shareholders were pleased with Aliko Dangote and his team.

He said, for the company to still pay a robust dividend despite the obvious economic challenges, which also affected their operations, shows the doggedness and fighting entrepreneurial spirit of the Management.

According to him, 鈥淲e are happy with this result. 2024 was very challenging due to the fluctuations in the Foreign Exchange market, and the company’s 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.

“This is very commendable, and it is only a company like Dangote Cement that can achieve this laudable feat.鈥�

Chairperson of the Pragmatic Shareholders Association of Nigeria, Mrs. Bisi Bakare, also commended the company鈥檚 consistent dividend payment, noting that the Company is moving in the best way of corporate governance.

Mrs. Bakare said: 鈥淎s a shareholder and an acute investor of this company, I am very happy and pleased with the performance of our company so far.

“The earnings are not even up to N30 per share, and for the company to still declare N30 per share dividend speaks volumes of the quality of leadership that we are lucky to have in Dangote Cement鈥�.

She stated: “It should also be noted that Dangote Cement is the only manufacturing company that paid the highest dividend in the year under review.

“So, we are happy and very proud to be part of this company.鈥�

Dangote said the company鈥檚 strategy in every country of operation is to be the leader in cost, quality, and service.

He said the company builds large, modern, highly efficient plants that combine the latest equipment from Europe, China, and beyond to enable it to make higher-quality cement at lower costs, thereby giving it strong competitive advantages.

Dangote further revealed that the company is set to commission a 3MTA grinding plant in C么te d鈥橧voire, this year, as well as a 6MTA integrated plant in Itori, Ogun State.

He said another major milestone was the acquisition of 1,500 compressed Natural Gas (CNG) trucks to replace diesel-fueled vehicles, thereby contributing to both cost savings and environmental impact. Plans, according to him, are underway to double the fleet to 3,000 trucks.

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