For the primary time since its inception, Dangote Cement Group’s earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) reached an all-time milestone of N1,382.0 billion, crossing the N1 trillion mark, a rise of 56 per cent. In the identical vein, Earnings per share additionally elevated by 12.3 per cent to N29.74 as in opposition to 2023’s file of N26.47.
Unanimously, the shareholders accepted a dividend payout of N30 per share to all traders, totaling N502.6 billion.
Chairman of the corporate, Aliko Dangote, whereas presenting the reviews to the shareholders, mentioned the corporate recorded a N3,580.6 billion income, representing a 62.2 per cent year-on-year development, and that the efficiency was pushed by efficient pricing methods and powerful demand restoration in key markets, significantly Nigeria.
The shareholders expressed their full reward for the Board, Administration, and employees for the dividend, noting that the choice was in the very best curiosity of the shareholders.
In the identical vein, the corporate additionally considerably elevated its company social duty (CSR) by 469.8 per cent to N13.2 billion. The CSR actions had been in training, healthcare, agriculture, infrastructure, and {economic} empowerment.
Commenting on the efficiency of the corporate, the President of the Affiliation for the Development of Rights of Nigerian Shareholders (AARNS), Faruk Umar, mentioned the shareholders had been happy with Aliko Dangote and his staff. He mentioned, for the corporate to nonetheless pay a sturdy dividend regardless of the apparent {economic} challenges, which additionally affected their operations, exhibits the doggedness and combating entrepreneurial spirit of the Administration.
In accordance with him, “We’re proud of this consequence. 2024 was very difficult as a result of fluctuations within the overseas trade market and the corporate’s enlargement 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 return. 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 cost, 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 completely happy and happy with the efficiency of our firm to date. 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 also needs to be famous that Dangote Cement is the one manufacturing firm that paid the best dividend within the 12 months underneath overview. So, we’re completely happy and really proud to be a part of this firm.”
Dangote mentioned the corporate’s technique in each nation of operation is to be the chief in price, high quality, and repair. He mentioned the corporate builds giant, fashionable, extremely environment friendly vegetation that mix the newest tools from Europe, China, and past to allow it to make higher-quality cement at decrease prices, thereby giving it robust aggressive benefits.
Dangote additional revealed that the corporate is about to fee a 3MTA grinding plant in Côte d’Ivoire, this 12 months, in addition to a 6MTA built-in plant in Itori, Ogun State. He mentioned one other main milestone was the acquisition of 1,500 compressed Pure Gasoline (CNG) vans to exchange diesel-fueled automobiles, thereby contributing to each price financial savings and environmental impression. Plans, in line with him, are underway to double the fleet to three,000 vans.
