Dangote Cement Plc has announced a final dividend of N30 per share for the financial year ended December 31, 2024, following shareholder approval at the company’s Annual General Meeting (AGM). This payout amounts to a total distribution of N502.6 billion, marking one of the highest dividend allocations in Nigeria’s manufacturing sector.
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The dividend approval follows a robust financial performance for the year. Dangote Cement recorded an EBITDA of N1.38 trillion, reflecting a 56% increase compared to the previous year. Revenue also surged by 62%, reaching N3.58 trillion, while earnings per share rose from N26.47 in 2023 to N29.74 in 2024.
As part of its commitment to corporate growth and shareholder value, Dangote Cement revealed continued investment in expansion projects across Africa. Key initiatives include the development of a new 3 million tonnes per annum (MTA) grinding plant in Côte d’Ivoire and a 6 MTA integrated plant in Itori, Ogun State. These projects align with the company’s broader strategy of increasing production capacity and strengthening its pan-African presence.
In addition to its operational focus, Dangote Cement significantly increased its corporate social responsibility (CSR) budget. The company allocated N13.2 billion to initiatives in education, healthcare, infrastructure, and agriculture—an increase of nearly 470% from the previous year’s CSR spend.
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Another key area of investment is Dangote Cement’s transition to a more environmentally friendly logistics fleet. The company has already converted 1,500 trucks to compressed natural gas (CNG) and aims to expand this to 3,000 units. This move is intended to reduce fuel costs and environmental impact while improving distribution efficiency across Nigeria and beyond.
The dividend qualification date was set for June 9, 2025, and payments to eligible shareholders were scheduled to commence on June 23, 2025, through electronic transfer.
Dangote Cement’s performance in 2024 reinforces its position as a leader in Nigeria’s industrial landscape. With strong earnings, strategic expansion, and a shareholder-centric dividend policy, the company continues to set benchmarks in the manufacturing and construction materials sector.
