Shareholders of Dangote Cement on Monday have been filled with reward for the Board, Administration, and employees of the corporate after approving a dividend payout of N502.6 billion, which interprets to N30 kobo per share on the 2024 Annual Common Assembly, held in Lagos on Monday.
In the identical vein, the corporate additionally considerably elevated its social investments by 469.8 per cent to N13.2 billion. The company social duty (CSR) actions have been in training, healthcare, agriculture, infrastructure, and {economic} empowerment.
President of the Affiliation for the Development of Rights of Nigerian Shareholders (AARNS), Faruk Umar, stated the shareholders have been happy with Aliko Dangote and his crew. He stated, for the corporate to nonetheless pay a sturdy dividend regardless of the apparent {economic} challenges, which additionally affected their operations, reveals the doggedness and preventing entrepreneurial spirit of the Administration.
In keeping with him, “We’re proud of this consequence. 2024 was very difficult as a result of fluctuations within the international alternate market and the corporate’s growth programme. However regardless of all these challenges, the corporate was nonetheless capable of pay us an excellent dividend and even gave us hope of higher returns on our investments within the years to come back. That is very commendable, and it’s only an organization like Dangote Cement that may obtain this laudable feat.”
Chairperson of the Pragmatic Shareholders Affiliation of Nigeria, Mrs. Bisi Bakare, additionally counseled the corporate’s constant dividend fee, noting that the Firm is transferring in one of the best ways of company governance. “As a shareholder and an acute investor of this firm, I’m very pleased and happy with the efficiency of our firm thus far. The earnings should not even as much as N30 per share, and for the corporate to nonetheless declare N30 per share dividend speaks volumes of the standard of management that we’re fortunate to have in Dangote Cement…It must also be famous that Dangote Cement is the one manufacturing firm that paid the best dividend within the yr underneath assessment. So, we’re pleased and really proud to be a part of this firm.”
Chairman of the corporate, Aliko Dangote, whereas presenting the stories to the shareholders, stated the corporate’s technique in each nation of operation is to be the chief in price, high quality, and repair. He stated the corporate builds massive, trendy, extremely environment friendly crops that mix the most recent tools from Europe, China, and past to allow it to make higher-quality cement at decrease prices, thereby giving it robust aggressive benefits.
In keeping with him: “We achieved a N3,580.6 billion revenues, representing a 62.2 per cent year-on-year development, pushed by efficient pricing methods and powerful demand restoration in key markets, significantly Nigeria. Group EBITDA reached an all-time milestone of N1,382.0 billion, crossing the N1 trillion mark for the primary time.”
Dangote additional revealed that the corporate is ready to fee a 3MTA grinding plant in Cote D’Ivoire, this yr, in addition to a 6MTA built-in plant in Itori, Ogun State. He stated one other main milestone was the acquisition of 1,500 compressed Pure Gasoline (CNG) vehicles to interchange diesel-fueled autos, thereby contributing to each price financial savings and environmental impression. Plans, in response to him, are underway to double the fleet to three,000 vehicles.
