Dangote Cement Plc, Africa’s largest cement producer, has received shareholder approval to pay a final dividend of ₦30 per ordinary share for the financial year ending December 31, 2024. The resolution passed with overwhelming support — 353 of 360 shareholders voted in favour — during the company’s 16th Annual General Meeting (AGM) held in Lagos on June 23, 2025.
The approved dividend totals ₦506.21 billion, representing a dividend yield of 6.81% based on the current share price of ₦440. It marks the second consecutive year the company has maintained the ₦30 dividend payout, underscoring a strong commitment to shareholder value.
At the AGM, board directors Aliko Dangote, Ernest Ebi, Viswanathan Shankar, Cherie Blair, and Douraid Zaghouani were reappointed following their retirement by rotation. Shareholders also approved a remuneration package of ₦20 million for the Chairman and ₦15 million for each non-executive director for FY 2025.
Addressing shareholders, Chairman Aliko Dangote highlighted Nigeria’s growing leadership in cement exports, stating:
“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.”
On the company’s performance and outlook, he added: “Our focus is on reducing production and foreign exchange costs, expanding our market share, and driving stronger export performance.”
According to Dangote Cement’s Q1 2025 financial report, the company’s cost of sales rose slightly by 2.29%, reaching N407.2 billion, compared to N398 billion in the same period last year.
Despite modest cost increases — with fuel and power costs accounting for 43.5% of cost of sales — the company managed to sustain profitability through topline growth and operational efficiencies.
Since 2018, Dangote Cement has consistently increased shareholder returns: ₦10–₦16 per share (2018–2022), ₦20 in 2023, ₦30 in 2024 — reaffirmed this year.
This reflects the company’s financial strength, investor confidence, and continued dominance in the construction materials sector across Africa.
