Africa's richest man set to pocket $485 Million dividend from cement giant

Aliko Dangote, Africa’s richest man and the controlling force behind Dangote Cement, is on track to receive an estimated 659.21 billion naira ($484.71 million) in dividends after the company proposed a final payout of 45 naira per share for the 2025 financial year.

The proposed dividend would be paid to investors whose names appear on the company’s register at the close of business on Wednesday, June 17, 2026.

Dangote’s stake is held largely through Dangote Industries Limited, the vehicle that controls 14,621,387,610 shares, about 86.65% of the company. He also owns 27,642,637 shares directly. Taken together, that gives him a total beneficial holding of 14,649,030,247 shares.

Multiply that by 45 naira per share and the gross figure comes to 659,206,361,115 naira, the equivalent of roughly $484.71 million at the stated rate.

Tax will take a bite. Using the standard 10% withholding tax typically applied to dividends in Nigeria, Dangote’s net payout would be about 593.29 billion naira, or roughly $436.24 million. The final amount will depend on the applicable withholding tax treatment when the dividend is paid.

The scale of the payout reflects how dominant Dangote Cement is in his empire and in Nigeria’s industrial economy. The company is the country’s biggest cement producer and one of the largest in Africa, with operations spanning multiple markets. It is also a bellwether stock, watched closely by investors because its performance tracks construction activity, infrastructure spending and the broader direction of consumer demand.

Dangote Cement’s proposed dividend follows a year in which the company reported a sharp jump in earnings, driven by rising revenue and a steep drop in finance costs. any dividend cheques on the continent this year.