Aliko Dangote, the most affluent individual in Africa, is the Chairman of Dangote Industries Limited.
Addressing the shareholders at the yearly general assembly of Dangote Sugar Refinery Plc on Tuesday, he underscored the significant challenges brought about by the devaluation of the naira in 2023.
Dangote highlighted the diligent efforts being made by the company to ensure dividend disbursement for the current year.
It was observed by him that numerous companies, especially those in the food and beverage industry, faced similar repercussions and might encounter difficulties in fulfilling dividend obligations.
“We are doing whatever it takes to make sure that at the end of the day, we will be paying dividends because if you look at our dividends last year, it was almost 50 percent more so we will try and get out of the mess,” he said.
“The biggest mess created was actually the devaluation of the naira from N460 to N1,400.
“You can see almost 97 percent of the companies, especially in food and beverages businesses, none of them will pay dividends this year for sure but, we will try and get out of it as soon as possible.
“We want to see that at the end of the day, no matter how small, we will be able to pay some dividends, especially if there is a rebound of the naira.”
