DataPro has upgraded Dangote Cement Plc's long-term credit rating to AA+ from AA, maintaining a stable outlook.
The technology-driven rating agency also affirmed the company's short-term rating, signaling confidence in the cement producer's financial resilience and strategic positioning.
Shareholders recently approved a 50% increase in the 2025 dividend payout, raising the per-share distribution from N30 to N45.
The upgrade comes on the heels of significant corporate developments that have strengthened Dangote Cement's balance sheet and market access.
Shareholders recently approved a 50% increase in the 2025 dividend payout, raising the per-share distribution from N30 to N45.
This move expanded the total dividend pool to N753.8 billion, underscoring the company's robust cash generation capabilities.
Additionally, the company has secured shareholder approval for a secondary listing on the London Stock Exchange.
This strategic step aims to broaden Dangote Cement's access to international capital markets, potentially lowering funding costs and enhancing its global investor base.
The AA+ rating reflects DataPro's assessment of these positive fundamentals.