Africa’s richest man, Aliko Dangote, to pocket N659 billion from Dangote Cement

Africa’s richest man, Aliko Dangote, is set for another cash payout as Dangote Cement Plc prepares to distribute one of the largest dividends in the company’s history, underscoring the steady earnings power of his empire even as he advances plans for a broader energy push.

The Nigerian billionaire, whose net worth stands at $32.8 billion according to Bloomberg, is expected to receive N659.2 billion ($490 million) from his 86.82 percent stake in Dangote Cement. His holdings amount to 14.65 billion shares in the Lagos-listed cement producer, making him the company’s largest shareholder and the primary beneficiary of the dividend.

Dangote Cement’s dividend, industrial expansion

The payout forms the bulk of the N759.3 billion ($564.3 million) total dividend declared by the company’s board, including a final dividend of N45 per share. Shareholders are expected to receive payments electronically on July 2, continuing a pattern of consistent returns that have made Dangote Cement one of the most reliable dividend payers on the Nigerian Exchange.

The expected windfall comes as Dangote deepens investment across his industrial businesses, including the Dangote Petroleum Refinery and Petrochemicals project. The refinery, the world’s largest single-train refinery, with a capacity of 650,000 barrels per day, is also being positioned for a potential $50 billion pan-African initial public offering, a move that could further reshape the billionaire’s business portfolio.

Scale and earnings strengthen Dangote Cement

Dangote Cement remains key to Aliko Dangote’s portfolio. It has a capacity of 55 million tonnes a year across Africa, with Nigeria accounting for 35.25 million tonnes. Key plants include Obajana in Kogi State and Ibese in Ogun State. Obajana has a capacity of 16.25 million tonnes across five lines, making it Africa’s largest cement plant. Ibese operates four lines with a capacity of 12 million tonnes. Both plants underpin domestic supply and regional exports.

Strong financial performance helped support the dividend. Dangote Cement reported profit after tax of N1.02 trillion ($745.49 million), more than double the N503 billion recorded a year earlier. The result marked the first time the company crossed the N1 trillion profit threshold, reflecting higher prices, improved efficiency and sustained demand across its markets.

Revenue rose 20.27 percent to N4.31 trillion ($3.16 billion), driven by sales growth in Nigeria and other African operations. Meanwhile, the company strengthened its balance sheet, with net debt falling sharply to N683 billion ($500.2 million) from N2.06 trillion ($1.51 billion) a year earlier. Total assets stood at N6.04 trillion ($4.42 billion), slightly lower than the previous year.