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Dangote Cement’s dividend payment tops N1tn in seven years

Dangote Cement’s dividend payment tops N1tn in seven years

Cement-manufacturing giant, Dangote Cement Plc, Wednesday said its dividend payment to shareholders, has exceeded N1 trillion in seven years.

Gillaume Moyen, the Group Chief Financial Officer of the firm, said at the virtual Facts Behind the Figures report hosted by the Nigerian Stock Exchange, that the high point of the cement-maker’s success lies in transforming the nation from an importer of cement to an exporter.

Dangote Cement, which was Nigeria’s biggest company by market value until recently displaced by MTN Nigeria by way of common stock gains by the telco, rewarded shareholders with N51.1 billion in 2013, N119.3 billion in 2014, N102.2 billion in 2015, N136.3 billion in 2016, N144.8 billion in 2017, N178.9 billion in 2018 and N272.6 billion in 2019.

“We are developing road infrastructure and durable concrete roads, which are a major economic catalyst and hugely beneficial for the country’s transport sector.

Read also: Dangote Cement raises N50bn debt to fund short term liabilities

“We began our operations in Nigeria and have been expanding into other countries over the years.

“Since 2011, we have been enjoying robust volume growth; to be more specific, we have been growing at a compound annual growth rate of 13.4 per cent,” Moyen said.

Meanwhile, Michel Puchercos, the Group Chief Executive Officer, revealed the organisation’s COVID-19 containment efforts in its African operations, noting its watchdog endeavours across markets.

Dangote Cement came head to head with rival cement-maker, BUA Group, in an ownership tussle involving mining sites at Obu-Okpella, Edo State in June, with the latter obtaining a restraining order from a Benin High Court to keep Dangote Cement off the disputed sites.

Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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