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COVERMANUFACTURING

PZ Cussons to Pay Shareholders N2.4billion Dividend

PZ Cussons Nigeria Plc will pay N2.422 billion as dividends to its shareholders following the approval granted its board by its shareholders.

Group Chairman, Kola Jamodu, at the company’s 67th Annual General Meeting (AGM) which took place at the Transcorp Hotels, Calabar, Cross River State, on Tuesday, September 29,  said the amount which translates to 61 Kobo per share is the final dividends payout for operations for the year ended May 31, 2015.

According to him, this is in addition to N794 million interim dividend payout which translated to 20 Kobo per share earlier paid in March bringing the total dividend payout for this year to 81 Kobo per share.

Jamodu said in spite of the adverse economic condition including increasing competition, turnover leaped to N73.1billion from N72.9 billion, adding that profit before taxation plunged by 5.7 per cent compared to the previous year.

He blamed this drop on significant exchange loses that were included due to the devaluation of the naira during the year under review.

He added that despite the tough operating environment, PZ Cussons performed satisfactorily when compared to its competitors in the sector.

 

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  1. […] of PZ Cussons, PZ Tower and PZ Power, earlier this week approved merger of the firms in line with the Investment […]

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