LafargeHolcim Maroc (LHM) dominated trading activity on Wednesday, March 11, 2026, with its shares surging 9.9% to 1,759.0 MAD following the announcement of a proposed dividend per share (DPS) of 96 MAD for fiscal year 2025, up 37.1% from the 70 MAD paid in 2024. This bullish explosion dragged the MASI index in its wake, pushing it up 1.51% to 17,157.05 points, although the Casablanca Stock Exchange remains down 8.96% year-to-date.
Market Context: MASI 20 Outperforms
The MASI 20 index, comprising the most liquid stocks, outperformed the broader benchmark with a gain of 1.99% to 1,309.94 points, while the MASI Mid and Small Cap struggled to follow the movement, advancing only 0.09% to 1,735.59 points. Market breadth remained favorable with 37 stocks rising against 23 declining and 5 unchanged, out of 65 listed companies. The MASI ESG index, reflecting environmental and social criteria, particularly shone with a gain of 1.74% to 1,180.11 points, suggesting renewed appetite for issuers displaying solid governance.
The international macroeconomic context, however, painted headwinds for Moroccan exporters. The EUR/MAD cross appreciated by 2.92% to 10.825, increasing pressure on margins for industrial companies dependent on European markets, while USD/MAD declined 0.36% to 9.3666. On the energy front, Brent crude traded at $88.45 per barrel, up 0.7% on the session but down 4.6% for the week, a movement favorable to the kingdom's energy importers.
LafargeHolcim: Record Results and Aggressive Dividend Policy
LafargeHolcim Maroc's Board of Directors validated solid annual results for 2025, with consolidated revenue of MAD 8,936 million, up 9.6% from the previous fiscal year. Consolidated net profit climbed 18.6% to MAD 2,166 million, reflecting significant improvement in operational profitability despite persistent inflationary pressures. This performance demonstrates the resilience of Morocco's construction sector, supported by government infrastructure programs and recovering real estate activity in major metropolitan areas.