Dangote Cement slump erases N4.23trn from Aliko’s net worth

A sharp bearish wave on the Nigerian Exchange Limited (NGX) has wiped approximately N4.23 trillion off the equity portfolio of Africa’s richest man, Aliko Dangote, in just 24 trading days to July 3.

The massive contraction in paper wealth comes as investors aggressively reprice his flagship asset, Dangote Cement Plc, triggering a steep share slump from its June highs.

The contraction—driven largely by market technicalities, including a post-dividend markdown and broader macroeconomic adjustments—highlights the heightened volatility currently impacting heavyweights on the local bourse.

As at June 1 the stock reached a high of N1,180 per share. As at that date, the stock held strong near its historical peaks of N1,189 as the broader market initiated its transition to the T+1 settlement cycle.

Dangote Cement Plc has 16.873billion shares outstanding. At the current N891 per share, Dangote Cement’s 16.873 billion shares are worth N15.033 trillion. The stock has lost N289 per share, steadying at N891 per share as at July 3.

The stock trades lower at N891 following the mid-June corporate action, where the stock marked down for its N45 gross dividend payout (Ex-dividend date: June 18; Payment date: July 2).

Though despite this record dip, the stock has risen this year by 46.31 percent. As at December 31, 2025, Dangote Cement Plc closed the final trading day of the year at N609 per share. Dangote Industries Limited received a gross dividend payout of approximately N657.96 billion for the 2025 financial year.

The stock began 2026 at that N609 mark and subsequently went on a historic bull run in the first half (H1) of the year, peaking at an all-time high of N1,189 in May 2026.

Aliko Dangote is the ultimate owner of Dangote Industries Limited which owns 86.65 percent stake in Dangote Cement Plc translating to 14.621billion shares.

For the 2025 financial year (with the dividend approved at the Annual General Meeting on July 2, 2026), Dangote Cement Plc implemented a significant 50 percent increase to its payout benchmark.

The largest cement maker paid N45 dividend per share, up from N30 paid for FY 2024. The N289 lost by Dangote Cement in the period to July 3 implies that the billionaire booked N4.23 trillion loss.

At the company’s yearly general meeting held in Lagos recently, the company committed to rewarding shareholders for their continued confidence and support.

“Our commitment remains to create sustainable value for all stakeholders. This significant dividend increase demonstrates the strength of our business model, our disciplined approach to capital allocation and our confidence in the future.

“We appreciate the trust our shareholders have placed in us and remain committed to delivering superior returns while maintaining the highest standards of corporate governance and operational excellence,” said Emmanuel Ikazoboh, chairman, Dangote Cement Plc.

In 2025, Dangote Cement commissioned a 3-million-tonne-per-annum grinding plant in Côte d’Ivoire, reinforcing its presence in West Africa and increasing total installed capacity to 55 million tonnes per annum (Mta) across eleven African countries.

In full year to December 31, 2025 the group revenue increased by 20 percent to N4.307 trillion (2024: N3.581 trillion); company revenue increased by 35 percent to N2.957 trillion (2024: N2.193 trillion); group net profit increased by 102 percent to N1.015 trillion (2024: N503 billion); company net profit decreased by 31 percent to N709 billion (2024: N1.027 trillion).

Also, group earnings per share increased by 101 percent to N59.86 (2024: N29.74), while company earnings per share decreased by 31 percent to N42.31 (2024: N61.32.

The company remains focused on its long-term objective of expanding installed capacity to 80Mta by 2030, while driving operational efficiency, increasing exports, enhancing sustainability initiatives, and improving shareholder returns.(BusinessDay)