PZ Cussons shareholders okay N992.6 million dividend

Shareholders of PZ Cussons Nigeria Plc have endorsed a dividend of N992.62 million, translating to 25 kobo per share for the 2021 financial year.

At the company’s 73rd yearly general meeting held in Lagos, the company disclosed that the final dividend per share is higher than the 10 kobo dividend declared at the end of 2020 financial year.

According to the company, its revenue for the period increased by 23 per cent to N82.578 billion from N66.99 billion achieved in the corresponding period in 2020, resulting in 143 per cent increase in profit before tax against a loss of N7.939 billion recorded in the year 2020.

The company said the growth in indices was broad based reflecting in all the business units, especially in leading brands such as hygiene, home and personal care.

In addition, the company said it is transforming its supply chain business to further unlock value, localise raw material sourcing, blend flexibility and develop new products in the segment.

On human resource development, the company said it would continue to adopt right employee engagement and motivation within the company to further encourage their passion for excellence and resilience.

“People transformation will continue to be a key strategic priority ever evolving. We will continue to toe the line of sustainability in tune with best global practices.”

The company also added that it is currently pursuing a new strategy that provides clearer insight into changing consumer and shopper habits as well as total business transformation thus building brands for life for present and future generations.