Business PZ to offer shareholders 56% dividends

PZ Cussons Nigeria, a major player in the personal and household product market has declared that it is offering a total dividend of 56 kobo per 50 kobo ordinary share to its shareholders. this was disclosed to stockbrokers and management of the Nigerian Stock Exchange (NSE) in its full year financial result ended May 31, 2013.

With its annual general meeting due to hold in Abuja on September 26, 2013, the dividend of 56 kobo will be paid on October 2, 2013 to all shareholders whose names appear on the register of the company at the close of business on September 16, 2013, if the company’s board approves this recommendation.

PZ recorded a profit after tax of #5.321 billion, which represents a 109.59 per cent increase from #2.528 billion recorded in 2012. Despite recording a profit before tax of #7.650 billion from #4.306 billion, which is a 77.63 per cent increase, the revenue for the year dropped by 1.12 per cent as it fell from N72.154 billion in 2012 to N71.343 billion.

Meanwhile, indicators of the NSE rebounded at the close of trading on Thursday when equities capitalization closed at N11.752 trillion after appreciating by N2.523 billion as against N11.750 trillion recorded on Wednesday.
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