Dangote Cement shareholders approve potential London stock exchange listing

Shareholders of Dangote Cement Plc have approved a potential secondary listing of the company’s issued shares on the London Stock Exchange (LSE).

The approval was granted during the company’s 17th Annual General Meeting (AGM) held on Thursday at the Eko Hotels & Suites in Lagos.

The resolution gives the Board of Directors a green light to evaluate and execute one or more capital market transactions under applicable international listing frameworks.

This includes an option for a secondary listing on the LSE or other recognized international stock exchanges, as well as a potential offer for sale of the company’s shares on both international and Nigerian capital markets by the majority shareholder.

The endorsement from equity investors marks a massive leap forward in Dangote Cement’s institutional growth and its pan-African expansion goals.

Market analysts believe that a secondary listing in London will significantly elevate the manufacturer’s global visibility, grant it access to a broader pool of international institutional capital, and provide a deeper layer of foreign exchange liquidity.

Addressing the investors, the Chairman of Dangote Cement Plc, Mr. Emmanuel Ikazoboh, emphasized that the decision aligns with the company’s long-term corporate governance and operational framework to build a resilient, globally competitive business model.

The management reiterated its core commitment to optimizing installed capacity, which increased to 55 million tonnes per annum (Mta) following the recent commissioning of its 3Mta grinding plant in Côte d’Ivoire.

“Subject to obtaining all requisite regulatory approvals, the company is authorized to undertake capital market transactions, including a potential secondary listing on the London Stock Exchange or another recognized international exchange, to enhance long-term corporate value,” a notice on NGX read.

Beyond the strategic approvals, shareholders widely lauded the board for declaring a historic ₦45.00 dividend per ordinary share for the 2025 financial year, reflecting a 50 percent increase from the ₦30.00 paid out in 2024.

This record-breaking payout amounts to a total of approximately ₦753.8 billion, cementing the corporation’s status as a top wealth creator on the Nigerian Exchange (NGX).

In his remarks, Group Managing Director and CEO, Mr. Arvind Pathak, attributed the massive return on investment to robust earnings capacity and highly disciplined cost execution despite an intensely volatile macroeconomic climate.

Pathak noted that with fully operational assets across 11 African nations and a corporate target to scale total capacity to 80Mta by 2030, the company remains structurally positioned to shape Africa’s industrialization while consistently maximizing shareholder returns.