A declared dividend of N3.2 billion by PZ Cussons Nigeria the largest subsidiary of the PZ Cussons global group., has helped to boost the liquidity of shareholders.
Shareholders assembled in Calabar, Cross River, on September 29, 2015 for the 67th annual general meeting (AGM) of the company. Apart from having a successful AGM, the shareholders were gladdened by the enhancement of their pockets through the payment of a final dividend of N2.422 billion for the year ended May 31, 2015. After approving the dividend on Tuesday, the shareholders began to receive it on Wednesday, a development that put smiles on their faces.
According to some of the shareholders, the dividend came at the right time to meet their financial needs in the area of children education. “While we had received at interim dividend of 20 kobo, the final dividend came at the right time. Personally, the dividend has assisted me to take care of some of children educational needs,” an enthusiastic shareholder said.
The interim dividend of N794 million plus the final of N2.422 billion brought the total dividend for the year to N3.214 billion.
PZ Cussons Nigeria ended the year with a revenue of N73.1 billion, up from n72.9 billion in 2014. Operating profit stood at N6.652 billion, up from N6.301 billion in 2014. Profit before tax was N6.55 billion, down from N6.949 billion in 2014. Profit after tax came lower at N4.57 billion, compared with N5.1 billion in 2014.
Reviewing the performance of the company, Jamodu explained that "the company’s focus in driving shareholder value through improving efficiencies in the supply chain and continuous investment in brands that delight its customers was sustained during the year. Overall, it is gratifying to note that after taking into account the impact of the tough of the operating conditions and the competitive environment, our company performed satisfactorily against peers in the sector."
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