- As Company Spends N13.19bn On Social Responsibility
Caption: Chairman, Dangote Cement Plc, Aliko Dangote listening while a shareholders made a point at the company’s 16th annual general meeting held in Lagos on Monday. He is flanked by Group Managing Director/Chief Executive Officer of the company, Arvind Pathak; and a Non-Executive Director, Olakunle Alake, at the 16th Annual General Meeting of Dangote Cement Plc in Lagos on Monday, June 23, 2025.
Shareholders of Dangote Cement Plc, at its annual general meeting on Monday in Lagos voted to approve the N502.6bn dividend payout recommended by the directors for the year ended December 31, 2024.
The shareholders were full of appreciation of the board and management of the company, led by its founder and chairman, Alhaji Aliko Dangote, for the dividend, representing N30 per share, despite the obvious economic challenges plaguing the economy which is also taking its toll on the company’s operations.
Speaking on the financials presented at the meeting, Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), said the robust dividend shows the doggedness and fighting entrepreneurial spirit of the management.
The shareholders, he said, are happy with this result at a time when foreign exchange fluctuated and in spite of 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,” he noted.
On her part, Chairperson of the Pragmatic Shareholders Association of Nigeria, Mrs. Bisi Bakare, also commended the company’s consistent dividend payment, appreciating the decision of the board to pay N30 per share, more than its Earnings Per Share.
This, she continued, “speaks volumes of the quality of leadership that we are lucky to have in Dangote Cement…It should also be noted that Dangote Cement… paid the highest dividend in the year under review. So, we are happy and very proud to be part of this company.”
Earlier, Chairman of the company, Aliko Dangote, while presenting the reports to the shareholders, said Dangote Cement’s strategy in every country of operation is to be the leader in cost, quality, and service, building large, modern, highly efficient plants that combine the latest equipment from Europe, China, and beyond. This, he assured, enables it to make higher-quality cement at lower costs, a situation that offers it strong competitive advantages.
According to him, the company “achieved a N3,580.6 billion revenues, representing a 62.2 per cent year-on-year growth, driven by effective pricing strategies and strong demand recovery in key markets, particularly Nigeria. Group EBITDA reached an all-time milestone of N1,382.0 billion, crossing the N1 trillion mark for the first time.”
Dangote further revealed that the company is set to commission a 3MTA grinding plant in Cote D’Ivoire, this year, as well as a 6MTA integrated plant in Itori, Ogun State.
Another major milestone achieved during the year under review, he recalled, 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.
Similarly, the company also significantly increased its investments in corporate social responsibility (CSR) activities by 469.8% to N13.2 billion, across sectors like education, healthcare, agriculture, infrastructure, and economic empowerment.
