Lafarge Africa Shareholders Approve N19.33bn Final Dividend For 2024

Shareholders of Lafarge Africa Plc have approved N19.33 billion final dividend, representing N1.20 per share for the year ended December 31, 2024

They gave their approval at the Company 66th Annual General Meeting (AGM) held in Lagos.

In the 2024 financial result, Lafarge Africa announced a remarkable revenue of N696.76 billion for the 2024 financial year. The growth in revenue represents an increase of 72 per cent from N405.50 billion recorded in 2023. Operating profit grew by 89 per cent from N102 billion in 2023 to N193 billion in 2024 while profit after tax surged to N100 billion from N51 billion, representing an increase of 96 per cent over 2023.

Speaking to shareholders, chairman of Lafarge Africa, Gbenga Oyebode said that “our remarkable performance amidst the economic headwinds underscores our commitment to excellence and sustainable growth. We are well positioned to drive sustainable growth, empower communities, and shape Nigeria’s infrastructure for generations to come.”

The Group managing director/chief Executive officer, Lafarge Africa, Lolu Alade-Akinyemi, stated, “our 66th AGM celebrates a year of remarkable achievements spurred by innovation and sustainability.

“Achieving 76 per cent revenue growth in the face of economic challenges attests to our dedication and strategic focus. We remain committed to innovation, sustainability, operational excellence, and delivering superior value to our stakeholders.”

Chairman of the Ibadan Zone Shareholders’ Association, Mr. Eric Akinduro stated, “this is indeed a remarkable time for the shareholders of Lafarge Africa, owing to the commitment, discipline, dedication, and professionalism demonstrated by the leadership of the organization.

“The profit declared demonstrates that Nigerians can achieve excellence when given an enabling environment. With the current trajectory, I am confident that the company’s financial performance will continue to improve year after year.”

Lafarge Africa continues to prioritise sustainable practices, with initiatives aimed at reducing carbon emission and accelerating green growth. This is highlighted by the company’s adoption of calcined clay in cement production, eco-friendly products, and the expansion of its green logistics framework.