Shareholders of Dangote Cement Plc have endorsed a final dividend of N45 per ordinary share for the financial year ended December 31, 2025, resulting in a record total payout of N753.8bn.
The Punch reported that the approval was granted during the company’s 17th Annual General Meeting held in Lagos, where the management also reiterated its long-term commitment to expanding operations across Africa through increased production capacity, cleaner energy initiatives and improved operational efficiency.
Chairman of Dangote Cement Plc, Emmanuel Ikazoboh, said the company remained focused on fostering Africa’s industrial development by harnessing local resources and making strategic investments capable of driving sustainable growth.
The National President of the Association for the Advancement of the Rights of Nigerian Shareholders, Dr Faruk Umar, praised the company’s vision of promoting economic self-reliance across the continent.
Umar said, “The key thing for this year’s AGM is transforming Africa. You will notice that our founder is trying to ensure he positions Africa to be the source of our own wealth, using our own wealth to take care of our own business and activities, rather than depending on investors from other parts of the world coming to help us build our continent.
“This 50 per cent dividend increase may look like a rumble, but there is a lot of strategy that has gone behind it. Some of the most important strategies have focused on exports. We have grown in areas where we previously weren’t able to reach out because of past challenges. More things are in the pipeline, which are progressively getting implemented. We expect that we can continue the momentum that we have built over the last year into the forthcoming years as well.”
The company also disclosed that it is stepping up measures to lower transportation and energy costs through the deployment of compressed natural gas-powered trucks and greater adoption of alternative fuel sources.
Ikazoboh explained that Dangote Cement is expanding its use of alternative fuels by converting waste into energy for its manufacturing processes.
Speaking on the company’s future plans, Group Managing Director Arvind Pathak said consistent investments in exports, logistics and operational efficiency had strengthened Dangote Cement’s performance.
He revealed that the company intends to raise its production capacity from 55 million tonnes to 80 million tonnes by 2030, in line with the Dangote Group’s Vision 2030.
“We intend to grow from 55 million tonnes to 80 million tonnes,” he said.
Shareholder and financial analyst, Mr Nornah Awoh, applauded the board’s prudent financial management, highlighting the introduction of 3,000 CNG-powered trucks and a 50 per cent reduction in bank borrowings as major contributors to the company’s improved earnings.
Awoh said, “First of all, you have to commend the company because we now have 3,000 CNG trucks being used rather than hiring them, which is improving our revenue. Secondly, the company has drastically reduced its loans; only half of the loan is left to be collected and paid to banks, reducing borrowings by 50 per cent. Another thing is that the first quarter is 101 per cent higher than last year, so you can see what we are expecting.
“They have paid us a 45-naira dividend. If this trend continues to the fourth quarter, we expect nothing less than a 60-to-70-naira dividend. Additionally, you can see the synergy. With the new refinery, we are going to be getting diesel and gas directly from the Dangote Refinery. This is going to boost us and help significantly with profitability.”
He also pointed to the company’s growing presence across Africa as a key factor supporting long-term profitability.
He further emphasised the value of the cross border footprint, noting, “Regarding expansion, you can see the African expansion. We have gone into Côte d’Ivoire, apart from Tanzania and many other countries where Dangote is expanding. This expansion in the long run will ensure we make more profit. For the first time, the company’s profitability has crossed N1tn, which is very commendable, and the stock price has gone above 1,000 naira for the first time.”
Commenting on the company’s returns, Awoh urged investors and the media to place greater emphasis on long-term sustainability rather than focusing solely on dividend payments.
“The media needs to help us understand that a dividend is not the only benefit of an investment. There are instances where a company will pay you a massive dividend this year, but it won’t even exist in the next 50 years.
“What I am satisfied with when I invest, which is exactly the case with Dangote, is that I see a future. For a company that is constantly expanding, it means sustainability. That is the essence of it. None of us wants to eat today and die tomorrow. We must begin to ask companies, even as journalists, ‘Will this company be there tomorrow?’ If it’s not going to be there tomorrow, then I’m not satisfied. But Dangote, from what I’ve seen, will be there for me tomorrow,” Awoh said.
He added that the proposed addition of 25 million tonnes to the company’s production capacity further strengthened confidence in its long-term prospects.
“The expectation is simply that they will continue to do even better.”
