Business

Shareholders of Dangote Cement Plc smile to banks with over N1trn dividends

Shareholders of Dangote Cement Plc have smiled to banks with more than N1 trillion in cash dividends over the past seven years.

This was disclosed by the Group Chief Financial Officer, Dangote Cement Plc, Mr. Guillaume Moyen

He said that the company was focused on growing the economy and creating wealth for its shareholders.

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

These were part of the facts presented yesterday at the Nigerian Stock Exchange (NSE) during the virtual Facts Behind the figures and Facts Behind Sustainability Report of Dangote Cement.

Moyen said Dangote Cement has a sustained focus on helping the economy and doing what it can to benefit the economy.

“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,” Moyen said.

He said though the company began its operations in Nigeria, it has expanded into other countries over the years to become Africa’s largest cement group.

According to him, since 2011, the company has been enjoying robust volume growth with a compound annual growth rate of 13.4 per cent.

He pointed out that the company has an outstanding financial profile and has achieved excellent financial performance during the past seven years.

“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 N1 trillion 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,” Moyen said.

Group Chief Executive Officer, Dangote Cement Plc, Michel Puchercos, noted that amid the COVID-19 challenges, the company emphasises the health and safety of team members, customers, suppliers, and communities at large as a core value.

“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,” Puchercos said.

He said as Africa’s largest cement manufacturer, Dangote Cement takes its role of social responsibility seriously as it has been deploying its resources to help communities overcome hardships in this crisis.

“We have spent $1.9 million in response to COVID-19 to ensure the safety and protection of our people, customers and communities. In Cameroon, we donated PPEs, thermometers and 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,” Puchercos said.

He explained that while the world faces economic recession and downturn, Dangote Cement is fortunate enough to have had a decent start to the year as reflected in its first half financial results.

“First half Group EBITDA was slightly up supported by strong operating performance in Nigeria and Pan-Africa amidst COVID-19 challenges. EPS was up 6.3 per cent at N7.45. We are fortunate to have resilient first half 2020 results amidst impact of COVID-19,” Puchercos said.

He expressed optimism on the future outlook of the company noting that cement is an essential building material with no viable substitutes and the global cement industry continues to grow driven by urbanisation, population growth, housing growth, industrialisation, and infrastructure development, especially in emerging economies such as Africa.

“We are presented with a huge opportunity and are strategically positioned to take advantage of these opportunities with our operational efficiency, product quality, modern facilities, and technology to leverage our unique economies of scale and know-how,” Puchercos said

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