Dangote Cement spends N13.2bn on CSR, pays N502.6bn as dividends 

Dangote Cement Plc has announced a significant payout of N502.6 billion in dividends to its shareholders for the 2024 financial year, translating to N30 kobo per share. This impressive dividend, representing nearly 100% of its N503.25 billion profit after tax, was approved during the company’s 2024 Annual General Meeting (AGM) held in Lagos on Monday, June 23, 2025.

In a strong demonstration of its commitment to corporate responsibility, the cement giant also revealed a substantial increase in its Corporate Social Responsibility (CSR) investments, committing N13.2 billion to various impactful initiatives across Nigeria. This marks a remarkable 469.8% surge compared to its N2.36 billion CSR spending in the previous year. The company’s CSR activities are focused on critical areas such as education, healthcare, agriculture, infrastructure, and economic empowerment.

Shareholders at the AGM lauded the company’s resilience and robust performance amidst challenging economic headwinds. Faruk Umar, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), commended the management. “For the company to still pay a robust dividend despite the obvious economic challenges, which also affected their operations, showed the doggedness and fighting entrepreneurial spirit of the management,” Umar stated, adding that Dangote Cement stood out as the only manufacturing company to pay such a high dividend in the year under review. Mrs. Bisi Bakare, Chairperson of the Pragmatic Shareholders Association of Nigeria, also praised the company’s consistent dividend policy and strong corporate governance.

Presenting the reports, the Chairman of Dangote Cement Plc, Aliko Dangote, highlighted the company’s strategic successes. He reported that the company achieved a revenue of N3,580.6 billion, marking a 62.2% year-on-year growth. This was primarily driven by effective pricing strategies and a strong recovery in demand across key markets, particularly in Nigeria. The Group’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reached an unprecedented N1,382.0 billion, crossing the N1 trillion mark for the first time.

Looking ahead, Dangote revealed plans to commission a 3 million tonnes per annum (MTA) grinding plant in Cote D’Ivoire and a 6MTA integrated plant in Itori, Ogun State, this year. He also highlighted a major milestone in the company’s sustainability efforts: the acquisition of 1,500 Compressed Natural Gas (CNG) trucks to replace diesel-fueled vehicles, with ambitions to double this fleet to 3,000 trucks, contributing significantly to both cost savings and environmental impact.