By Taiye Olayemi
Shareholders of Lafarge Africa Plc have commended the company for its N1.20 final dividend for 2024 and an interim dividend of N4 for the first quarter of 2025, representing N5.20 per share.
They gave the commendation during the company’s Annual General Meeting (AGM) held in Lagos on Friday.
While celebrating the company’s commitment to rewarding investors, the shareholders collectively urged Lafarge Africa to urgently address the significant issue of unclaimed dividends, currently standing at not less than N3 billion.
Mr Eric Akinduro, Chairman of the Ibadan Zone Shareholders Association, congratulated the Chairman of Lafarge Africa for the success recorded in its profit for the year and other market indices.
Akinduro urged the company to draft a sustainability plan to maintain the success recorded going forward.
He expressed concern over some shareholders’ inability to claim their dividend for various reasons, urging the company to wade into that issue.
He said, “We are really celebrating success, upholding the legacy left by our forefathers. I congratulate the Chairman and everyone.
“It is sad that in spite of all that the Security and Exchange Commission (SEC) is doing to ensure every shareholder gets their dividend, we still have N3 billion worth of unclaimed dividend from Lafarge alone.
“This is not proper. So, we call on the management of Lafarge and SEC to look into this and ensure the problems hindering shareholders from accessing their dividend are surmounted.”
Also, Mr Godfrey Chibuno, Chairman of the Youth Alliance Shareholders Association, emphasised the need for prompt attention to the issue of unclaimed dividends, urging the company to take immediate action to address this matter.
He urged the company to develop a comprehensive plan to address the issue of unclaimed dividends.
Chibuno encouraged Lafarge to focus on making its products more readily accessible to a wider audience.
He said this increased accessibility would likely lead to expanded market share and economic benefits for the company.
Mr Boniface Okezie, Chairman of the Progressive Shareholders Association, said that taking a closer look at Lafarge’s net sales and the operating profit for 2024, the company deserved commendation.
He also praised the company for its proactive step toward reducing waste and promoting the use of alternative materials throughout its operations through their Geocycle initiative.
He advised Lafarge to engage Chinese experts in their process of production, considering their expertise in that field.
Okezie urged Lafarge to consider reducing the price of cement in light of the current economic situation in the country.
Meanwhile, the General Secretary of the Independent Shareholders Association, Mr Chibuzo Eke, lauded the dividend payment and the proper management of finance costs as spelt out in the AGM book.
He recommended that the company renegotiate prices to better manage its liquidity risk.
He added that this strategic move could help mitigate potential financial challenges and ensure a more stable financial position.
He encouraged Lafarge to consider offering its customers a bonus in 2025, citing the company’s last bonus declaration in 1996.
Responding, Mr Lolu Alade-Akinyemi, Chief Executive Officer of Lafarge Africa Plc, attributed the success recorded to the shareholders’ efforts in supporting the company.
Speaking on the high cost of cement, Alade-Akinyemi said, “The high cost of cement is purely driven by macroeconomic indices and the business model of the company, which warrants us to spend hugely on diesel and energy.”
On product availability, he said, “We want to be available in all markets. We have expanded our distribution channels and purchased 500 trucks to focus on secondary distribution.
“Within a year, we came up with three different products, so we are currently investing in retail expansion.”
The News Agency of Nigeria (NAN) reports that Lafarge Africa Plc recorded a revenue of N248.35 billion for the first quarter of 2025.
The company’s revenue grew by 80 per cent when compared with the N137.77 billion posted in the corresponding period of 2024.
Its operating profit for the period under review stood at N71.66 billion, up from N30.24 billion in 2024.
The profit after tax also witnessed an increase of 837 per cent relative to the profit recorded in the corresponding period in 2024.
