“We are happy with this result… despite all these challenges, the company was still able to pay us a very good dividend,” said AARNS President Faruk Umar.
Dangote Cement has recorded its highest-ever EBITDA, hitting N1.38 trillion—crossing the N1 trillion mark for the first time and reflecting a 56% year-on-year increase.
The company also reported a 62.2% revenue growth to N3.58 trillion, driven by effective pricing strategies and strong demand in Nigeria, according to Chairman Aliko Dangote.
At its 2024 Annual General Meeting, shareholders unanimously approved a dividend of N30 per share, totaling N502.6 billion. Earnings per share rose 12.3% to N29.74.
Faruk Umar, President of AARNS, praised the payout, stating, “Despite all these challenges, the company was still able to pay us a very good dividend.”
Mrs. Bisi Bakare, Chair of the Pragmatic Shareholders Association, added, “It speaks volumes of the quality of leadership.”
CSR spending also jumped nearly 470% to N13.2 billion.
Dangote revealed expansion plans including a 3MTA grinding plant in Côte d’Ivoire, a 6MTA plant in Ogun, and 1,500 new CNG trucks—aimed at lowering costs and environmental impact.