Dangote Cement Plc has grown the wealth of its shareholders, with over N1 trillion paid as dividends in the past seven years.
The company disclosed this yesterday at its virtual Facts Behind the figures and Facts Behind Sustainability Report to capital market stakeholders on the Nigerian Stock Exchange (NSE).
A breakdown of the seven-year dividend history gleaned 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.
Group CEO of Dangote Cement, Michel Puchercos, said amid 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.
Puchercos stated that “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 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, among others.”
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.
According to him, “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, where we operate.
“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.”
The group CFO of Dangote Cement, Mr Guillaume Moyen, said, Dangote Cement is focused on growing the Nigerian economy, saying, Dangote cement has a sustained focus on helping the Nigerian economy and doing what it can to benefit the economy.
“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,” he pointed out.