Dangote cement pays N1trn dividends in 7 years ; Economic Confidential

Dangote Cement Plc says it has grown the wealth of its shareholders, paying over N1tn as dividends in the past seven years.

According to the company’s Group Chief Financial Officer, Mr Guillaume Moyen, the cement manufacturer is focused on growing the Nigerian economy.

A breakdown of the seven-year dividend history gleaned from the company’s financial statements indicated that N51.1bn was paid in 2013, N119.3bn in 2014, N102.2bn in 2015, N136.3bn in 2016, N144.8bn in 2017, N178.9bn in 2018 and N272.6bn in 2019.

Moyen disclosed this during the virtual Facts behind the Figures and Facts behind Sustainability Report by the company to capital market stakeholders at the Nigerian Stock Exchange.

He said Dangote Cement had a sustained focus on helping the Nigerian economy and doing what it could to benefit the economy.

He said, “Arguably, our biggest achievement to date is taking Nigeria from being a big importer of cement to being self-sufficient, and now an exporter.

“We are developing road infrastructure and durable concrete roads, which are a major economic catalyst and hugely beneficial for the country’s transport sector.

“We began our operations in Nigeria and have been expanding into other countries over the years. Since 2011, we have been enjoying robust volume growth; to be more specific, we have been growing at a compound annual growth rate of 13.4 per cent.

“The company has an outstanding financial profile and has achieved excellent financial performance during this period. If we look at the last seven years, you will see that our EBITDA has increased by a CAGR of nine per cent. We have paid over N1tn in dividends to shareholders in the last seven years.

“As Africa’s largest cement manufacturer, we will continue to prioritise giving value to investors and other stakeholders.”

In his presentation, the Group Chief Executive Officer, Dangote Cement, Michel Puchercos, said amidst the COVID-19 challenges, the company placed an emphasis on the health and safety of team members, customers, suppliers, and communities at large as a core value.

He said, “We have implemented several rigorous protocols in all our operations across the continent to support public health policies and ensure the highest level of protection of our stakeholders.

“In addition, we are closely monitoring all markets according to the guidance provided by the authorities in each country to prevent and mitigate adverse effects of the pandemic. In this context, we continue to provide superior services and deliver high quality products to our customers.”

According to Puchercos, the company takes its role of social responsibility seriously and has taken deliberate steps to deploy resources to help its communities overcome hardships in this crisis.

He said, “We have spent $1.9m in response to COVID-19 to ensure the safety and protection of our people, customers and communities. In Cameroon, we donated PPEs, thermometers and many more to the Ministry of Public Health and major hospitals in Douala.

“In Ethiopia, we made cash donations to the government plus various donations including face masks, hand sanitisers and water supply. These are just a few examples.”