Dangote Cement Plc has announced its 2024 full-year audited results, reporting a 12.3% year-on-year increase in earnings per share (EPS) to N29.74.

The company’s revenue surged by 62.2% year-on-year to N3.58 trillion, driven by a 59.7% increase in pricing and a 1.6% growth in sales volume.

The company’s board has proposed a final dividend of N30.00 per share, representing a dividend yield of 6.3% based on the closing price of N480.00 per share as of February 28.

Despite the strong revenue growth, the company’s gross margin declined by 64 basis points year-on-year to 59.3%, due to a steep increase in the cost of sales.

However, the company saw a notable improvement in profitability in the fourth quarter, driven by cost efficiencies and stabilizing macroeconomic conditions.