PZ Cussons Nigeria Plc on Tuesday approved final dividend of N2.42 billion, representing a payment of 61 kobo per share to all its shareholders.
Chairman of PZ Cussons Plc, Dr. Kola Jamodu, announced this during the company’s 67th Annual General Meeting (AGM) in Calabar.
Jamodu said that the N2.42 billion was in addition to the N794 million interim dividend of 20 kobo per share paid in March, which brought the total dividend payout to N3.21 billion.
According to him, in spite of the adverse economic condition, including increasing competition, the company’s turnover has grown from N72.9 billion to N73.1billion from 2014 to 2015.
He said the balance sheet of the company remained strong with total assets of N67 billion and no debt.
“The dividend will be paid to shareholders on Sept. 30, 2015 after deducting the appropriate withholding tax,” he said.
He explained that the profit-before-tax dropped by 5.7 per cent this year as compared to the previous year, adding that it was due to the impact of the significant exchange loses.
Jamodu, however, said in spite of the tough operating environment, the company performed well, compared to other competitors.
“Our focus in driving shareholder value, through improving efficiency in the supply chain and continuous investment in the brands that delight our consumers, was sustained during the year,’’ he said.
He assured shareholders that the company would continue to invest in its core brands and growth categories.
The chairman also commended staff of the company for their hard work, adding that the good performance was made possible by them.
The post PZ Cussons approves N2.42bn dividends for shareholders appeared first on The Lens.