Dangote Cement, Plc, has proposed a 50% increase in dividend payout to shareholders, raising it to N30 per share for the year ended December 31, 2023.
This move reflects the company’s resilience and promising prospects for investors, as highlighted by Chairman Aliko Dangote’s commitment to enhancing returns on investments.
Despite challenging economic conditions, the company reported impressive financial results, with group revenue rising by 36.4% to ₦2,208.1 billion and profit after tax increasing by 19.2% to ₦455.6 billion.
Earnings per share also saw significant growth, up by 18.8% to ₦26.47.
Dangote Cement is expanding its market share across Africa, with pan-Africa volumes increasing by 12.7% to 11.3Mt.
The Group Managing Director, Arvind Pathak, attributed this positive outcome to the strength of the company’s diversified operations and its focus on cost containment strategies.
Looking ahead, Dangote Cement aims to enhance its value proposition through the production of high-quality cement and delivering sustainable value to stakeholders.
