Dangote Cement Maintains N7.424 Trillion Market Valuation Ahead of Dividend Payment
Dangote Cement Plc has maintained its market capitalization at N7.424 trillion on the Nigerian Exchange (NGX) as investors await the upcoming dividend payment scheduled for late June.
According to a company announcement, “If shareholders at the Annual General Meeting approve the dividend recommended by the directors, dividends will be paid on June 23, 2025.”
The cement manufacturer’s leadership has recommended a dividend distribution of N30 per ordinary share based on the company’s 2024 financial performance. The majority of this dividend payment will flow to Dangote Industries Limited, the parent company that controls approximately 87% of outstanding shares through its holding of 14,621,387,610 shares.
This substantial shareholding by Dangote Industries does not include Chairman Aliko Dangote’s personal stake in the business, nor the equity positions held by other board members.
Company records indicate that dividend payments will be made to shareholders whose ownership is recorded in the members’ register as of the close of trading on June 9, 2025.
Market observers expect increased trading interest in Dangote Cement shares leading up to the ex-dividend date, which could provide upward pressure on the stock price.
The company has experienced a decline from its position as Nigeria’s most valuable publicly traded entity due to sustained selling pressure. Market makers and institutional sellers have contributed to a downward trajectory in the share price, which currently trades at a 25.56% discount from its 52-week peak.
Investment research firm Cordros Securities Limited has updated its assessment of Dangote Cement following strong first-quarter 2025 results. The company delivered an impressive quarterly performance, with revenue climbing 21.7% compared to the same period in the previous year, primarily attributed to a substantial 30.5% increase in product pricing. This revenue growth translated into an 83.9% surge in earnings per share.
Based on these encouraging financial metrics, Cordros analysts have increased their price target for Dangote Cement by 18.1% to N542.98 per share, up from the previous target of N459.65. The research house has also upgraded its recommendation to “Buy,” with an expected 25.7% appreciation potential from the current reference price of N432.00.
Looking ahead, Cordros Securities projects robust earnings growth of 80.3% year-over-year, with earnings per share expected to reach N53.61, and it anticipates a dividend per share of N50.00 for the current fiscal year.
