Dangote Cement Paid ₦3.3trn To Shareholders In 15 Years
Chairman of Dangote Cement Plc, Emmanuel Ikazoboh, has disclosed that the company has paid out a total of ₦3.3tn in dividends to its shareholders over the past 15 years, underscoring its consistent commitment to rewarding investors.
Ikazoboh made the disclosure while presenting the company’s “Facts Behind the Figures” to stakeholders in Lagos.
He emphasized that Dangote Cement remains focused on consolidating its regional expansion while also positioning itself to begin paying interim dividends in the near future.
According to him, the company’s expansion projects across West Africa are progressing steadily, with operations in Côte d’Ivoire expected to generate nearly $3m in revenue by December.
He added that a new plant in Ghana’s Takoradi is also underway, with the overall strategy aimed at ensuring sustainable growth and stronger shareholder returns.
“Under my leadership, I hope that by next year we will be in a position to begin paying interim dividends. This would be very positive for the image of the organization,” Ikazoboh stated.
On cement pricing, the chairman explained that currency depreciation, particularly the weakening of the naira, has been the major driver of higher prices in Nigeria. However, he stressed that when converted to dollar terms, cement prices in Nigeria remain comparable to those in other African countries.
“We are aggressively driving costs down to avoid any further price increases. By controlling production costs, we can maintain margins while protecting shareholder value. Our shareholders are both local and foreign, and they expect consistent dividends,” Ikazoboh said.
Turning to the southern African market, Ikazoboh acknowledged challenges in South Africa, where the government permits cement imports, creating stiff competition for local producers.
To mitigate this, Dangote Cement is establishing a blending plant in Botswana, which he said would ease operational pressures and open new opportunities for profitability.
“In every country where we operate, we have been able to convince governments to restrict cement imports, ensuring that we become net exporters and contribute to their economies. South Africa remains a difficult case, but I intend to engage directly with the President during my next visit to press the issue further,” he noted.
The Botswana plant, he added, is expected to strengthen Dangote Cement’s regional footprint while reducing exposure to the South African market, where import dependence continues to weigh on industry players.
Dangote Cement Paid ₦3.3trn To Shareholders In 15 Years is first published on The Whistler Newspaper
