Dangote Cement has been named “Dividend Paying Company of the Year” at the Nairametrics Capital Market Choice Awards, recognized for its consistent and rising shareholder payouts, including a N30 per share dividend for FY 2024
[dropcap]D[/dropcap]angote Cement Plc has been honored as the “Dividend Paying Company of the Year” at the recently concluded Nairametrics Capital Market Choice Awards, held on May 23, 2025, in Lagos.
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The prestigious award recognizes the company’s consistent and robust returns to its shareholders.
The ceremony, themed “Capital Market as a Catalyst for Nigerian Economic Transformation,” celebrated companies making significant contributions to Nigeria’s economic progress.
Dangote Cement emerged victorious over other notable nominees, including Nigerian Aviation Company and Airtel Africa.
Dangote Cement has built a strong reputation for rewarding its shareholders, maintaining a track record of impressive dividend payouts.
Since 2018, the company has consistently paid above N10 per share, increasing to N16 and sustaining this through 2022.
For the 2023 financial year, the dividend climbed to N20 and was subsequently raised to N30. This momentum has continued into the full year 2024, with the company maintaining the N30 dividend, which is scheduled for payment in June 2025.
Dangote Cement was awarded the Dividend Paying Company of the Year… recognizing its record of solid shareholder returns.
The N30 per share dividend, subject to withholding tax, is slated to be paid on Monday, June 23, 2025, to shareholders registered as of Monday, June 9, 2025.
This final dividend payout totals N506.206 billion. Based on a share price of N440, this represents a dividend yield of 6.81% and a payout ratio of 100.59%.
The company’s price-to-earnings (P/E) ratio stands at 12.22x, significantly lower than the industry average of 41.81x, suggesting potential undervaluation of the stock.
The award comes on the heels of Dangote Cement Plc’s strong financial performance in the first quarter ended March 31, 2025.
The company reported a pre-tax profit of N311.974 billion, an impressive 87.48% increase compared to the N166.404 billion recorded in Q1 2024.
This robust profitability was primarily driven by strong revenue gains and the company’s continued dominance in its market share.
Revenue from the Nigerian market surged to N696.042 billion, increasing its share of total group revenue from 55.41% in Q1 2024 to nearly 70% in Q1 2025.
While fuel and power costs remained a significant expense at N177.193 billion, the cost of sales grew more slowly than revenue, contributing to a healthy rise in both gross profit and gross margin, which climbed to 59%, a 15 percentage point increase from the previous year.
Also read: Dangote cement to issue N300bn bonds for debt refinancing and working capital
The company’s balance sheet also showed significant growth, with retained earnings rising to N1.2 trillion from N1.027 trillion a year earlier.
