Africa's Richest Man Set To Pocket Nearly 300 Million In Cement Dividends
- Aliko Dangote will collect 293 million from Dangote Cements 335 million dividend payout, reinforcing his dominance in Africas cement industry.
- The companys revenue surged to 2.4 billion in 2024, driven by higher cement prices and strong sales across its Nigerian and Pan-African operations.
- Despite higher costs, Dangote Cements profit grew to 335.75 million, while its dividend stayed at N30 0.02 per share for shareholders.
Africas richest man, Aliko Dangote, is set to receive nearly 300 million in dividends from Dangote Cement Plc after the multinational cement giant wrapped up 2024 with 2.4 billion in revenue and a 335.75 million profit, reinforcing its dominance in Africas cement industry.
Dangote to receive 293 million in dividends from Dangote CementWith an 87.45 percent stakeequivalent to 14.65 billion sharesAliko Dangote stands as the biggest beneficiary of Dangote Cements final dividend payout scheduled for June 23, 2025 . He is set to receive N439.47 billion 293.2 million from the total N502.56 billion 335.3 million allocated to shareholders, amounting to N30 0.02 per share. The payout comes after a year that delivered strong returns but also tested investors, as the companys share price dropped more than 30 percent over the past 12 months.
Dangote Cement has strengthened its footprint across Africa, supplying cement and clinker to multiple markets. A series of share buybacks over the past year have pushed Dangotes stake from 86 percent to 87.45 percent, further tightening his grip on the company. Over the years, the company has helped transform Nigeria from a net cement importer into a key exporter in Sub-Saharan Africa. Beyond its home market, it operates in South Africa, Senegal, Zambia, Ethiopia, Tanzania, Congo, Cameroon, Ghana, Sierra Leone, and Cte d'Ivoire.
Dangote Cements revenue soars 62 percent in 2024With an annual production capacity of 52 million tonnes, Dangote Cement remains Africas largest cement producer. The company posted strong results for 2024 , with revenue surging 62 percent from N2.21 trillion 1.47 billion in 2023 to N3.58 trillion 2.4 billion. The growth was fueled by higher sales in both its Nigerian and Pan-African operations.
Revenue from its Nigerian business jumped from N1.29 trillion 860.6 million to N2.19 trillion 1.46 billion, driven by higher cement prices. Meanwhile, its Pan-African operations saw revenue climb from N925.9 billion 617.7 million to N1.48 trillion 987.4 million, boosted by foreign exchange translation gains following the nairas devaluation.