Dangote Cement Records N1.38trn Earnings, Up By 56%

Dangote Cement Plc has introduced a outstanding full-year income of N1.38 trillion for the 12 months ended December 31, 2024, marking a 56 per cent enhance in comparison with earlier 12 months.

Dangote Cement Group’s 2024 full 12 months audited outcomes confirmed that earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) reached an all-time milestone of N1,382.0 billion, crossing the N1 trillion mark, a rise of 56 per cent.

In the identical vein, earnings per share additionally elevated by 12.3 per cent to N29.74 as in opposition to 2023’s document of N26.47.

Unanimously, the shareholders authorised a dividend payout of N30 per share to all buyers, totaling N502.6 billion.

Chairman of the corporate, Aliko Dangote, whereas presenting the experiences to the shareholders, mentioned the corporate recorded a N3,580.6 billion income, representing a 62.2 per cent year-on-year progress, and that the efficiency was pushed by efficient pricing methods and powerful demand restoration in key markets, notably Nigeria.

The shareholders expressed their full reward for the Board, Administration, and workers for the dividend, noting that the choice was in one of the best curiosity of the shareholders.

In the identical vein, the corporate additionally considerably elevated its company social accountability (CSR) by 469.8 per cent to N13.2 billion. The CSR actions have been in training, healthcare, agriculture, infrastructure, and financial empowerment.

Commenting on the efficiency of the corporate, president of the Affiliation for the Development of Rights of Nigerian Shareholders (AARNS), Faruk Umar, mentioned the shareholders have been happy with Aliko Dangote and his crew. He mentioned, for the corporate to nonetheless pay a sturdy dividend regardless of the plain financial challenges, which additionally affected their operations, reveals the doggedness and preventing entrepreneurial spirit of the Administration.

In response to him, “We’re pleased with this end result. 2024 was very difficult because of the fluctuations within the overseas alternate market and the corporate’s growth programme. However regardless of all these challenges, the corporate was nonetheless capable of pay us an excellent dividend and even gave us hope of higher returns on our investments within the years to return.

That is very commendable, and it’s only an organization like Dangote Cement that may obtain this laudable feat.”

Chairperson of the Pragmatic Shareholders Affiliation of Nigeria, Mrs. Bisi Bakare, additionally counseled the corporate’s constant dividend cost, noting that the Firm is shifting in the easiest way of company governance. “As a shareholder and an acute investor of this firm, I’m very pleased and happy with the efficiency of our firm up to now. The earnings aren’t even as much as N30 per share, and for the corporate to nonetheless declare N30 per share dividend speaks volumes of the standard of management that we’re fortunate to have in Dangote Cement…It also needs to be famous that Dangote Cement is the one manufacturing firm that paid the very best dividend within the 12 months underneath assessment. So, we’re pleased and really proud to be a part of this firm.”

Dangote mentioned the corporate’s technique in each nation of operation is to be the chief in value, high quality, and repair. He mentioned the corporate builds giant, fashionable, extremely environment friendly crops that mix the newest tools from Europe, China, and past to allow it to make higher-quality cement at decrease prices, thereby giving it sturdy aggressive benefits.

Dangote additional revealed that the corporate is about to fee a 3MTA grinding plant in Côte d’Ivoire, this 12 months, in addition to a 6MTA built-in plant in Itori, Ogun State. He mentioned one other main milestone was the acquisition of 1,500 compressed Pure Gasoline (CNG) vehicles to exchange diesel-fueled automobiles, thereby contributing to each value financial savings and environmental affect. Plans, in accordance with him, are underway to double the fleet to three,000 vehicles.