Africa’s richest man, Aliko Dangote, to pocket N659.2 billion ($490 million) million 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.

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 that include Aliko Dangote 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.

NB: In the picture is Africa’s richest man, Aliko Dangote and then star boy Rema.

BY: Chukwudi Iwuchukwu 

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