BREAKING: Dangote Cement grows profit by 10% to N503bn in 2024
Dangote Cement Plc on Saturday announced N503 billion profit after tax in full year ended December 31, 2024, about 10 per cent increase over the N456 billion reported in full year ended December 31, 2023.
The Cement maker on the Nigerian Exchange Limited (NGX) from the profit & loss figures declared N3.58 trillion revenue in 2024, a growth of 62 per cent from N2.21 trillion declared in 2023 financial year.
The growth in revenue led the Group’s earnings per share increasing by 12 per cent to N29.74 from N26.47 per share in 2023.
The Directors pursue a dividend policy that reflects the Company’s earnings and cash flow, while maintaining appropriate levels of dividend cover.
They consider the capital needed to fund the Company’s operations and expansion plans. For the 2024 financial year, the Directors are pleased to recommend a dividend of N30.00 per ordinary 50 kobo share (2023: N30.00).
The Board considers that the proposed dividend is appropriate and is in line with the Company’s strategic growth objectives. If the shareholders approve this dividend at the Annual General Meeting, dividends will be paid to the shareholders whose names are registered in the Company’s Register of Members at the close of business on the Qualification Date.
