East African Portland Cement PLC (EAPC) on Thursday issued a Sh48 million dividend to the government, the first since 2011 after regaining profitability, posting a net profit of Sh1 billion in the year to June 2024.
The cement maker handed Sh24 million to the National Treasury and another half to the National Social Security Fund (NSSF) at a ceremony held at the Nairobi Securities Exchange (NSE).
“We are pleased to issue dividends to our shareholders. Their involvement with EAPC reflects continued trust and investment in the company’s success. This milestone reinforces EAPC’s commitment to sustainable growth, financial resilience, and long-term shareholder value,” said EAPC board chairman Richard Mbithi.
He added that the achievement not only highlights EAPC’s strong financial performance but also underscores its strategic vision, operational excellence, and unwavering dedication to delivering value to investors and stakeholders.
The company says it will remain focused on strengthening its leadership in the cement industry, driving sustainable growth, and enhancing operational efficiencies to meet the growing demand for high-quality products.
“As part of a broader growth agenda, EAPC is continuously investing in modernization, operational efficiencies, and market expansion. The company remains committed to enhancing production capacity, diversifying its product portfolio, and tapping into high-potential markets to meet the increasing demand for quality cement products in the region,’’ the firm said.
With Sub-Saharan Africa’s cement demand projected to grow by 77 per cent by 2030, driven by urbanization, infrastructure development, and regional economic integration, EAPC says it is strategically positioned to capitalise on these opportunities.
Nairobi Securities Exchange chairman Kiprono Kittony commended the cement maker for its recovery, saying that the success is evident from the impressive activities at the Nairobi bourse.
The recovery of the once loss-making cement maker has attracted increased activities at its counter at the Nairobi Securities Exchange (NSE), with its share price dominating top gainers’ list for two months now.
The company’s share price jumped
from Sh8 in January to Sh32. 85 on
December 23, having touched a high
of Sh55 in the intervening period. It
closed at Sh38 yesterday.
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