Dangote Cement has paid N502.6 billion in dividends to its shareholders, translating to N30 kobo per share, at the company’s 2024 Annual General Meeting in Lagos.
The dividend payout was approved by shareholders, who praised the Board, Management, and staff of the company for their performance.
The company also increased its corporate social responsibility (CSR) spending by 469.8% to N13.19 billion. The CSR activities were focused on education, healthcare, agriculture, infrastructure, and economic empowerment.
Shareholders, including the President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Faruk Umar, and the Chairperson of the Pragmatic Shareholders Association of Nigeria, Bisi Bakare, commended the company’s Management and Board for their performance.
They noted that despite the economic challenges faced by the company, it was still able to pay a robust dividend and showed a commitment to corporate governance.
The company’s Chairman, Aliko Dangote, highlighted the company’s achievements, including a 62.2% year-on-year growth in revenue to N3,580.6 billion and a Group EBITDA of N1,382.0 billion, crossing the N1 trillion mark for the first time.
Dangote also revealed plans to commission a 3MTA grinding plant in Cote D’Ivoire and a 6MTA integrated plant in Ogun State, as well as acquiring 3,000 compressed natural gas (CNG) trucks to reduce costs and environmental impact.
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