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PZ Cussons records 45% increase in dividend

He disclosed this yesterday during the presentation of the 2014 annual report and accounts of the company at the Transcorp Hilton Hotel, Abuja.Following the recommendation…

He disclosed this yesterday during the presentation of the 2014 annual report and accounts of the company at the Transcorp Hilton Hotel, Abuja.
Following the recommendation of the Board of Directors, shareholders unanimously adopted a final dividend payout of N2.4 billion, representing a payment of 61 kobo per share.
It could be recalled that interim dividend of 20 kobo per share, amounting to N790.52 million, was paid to shareholders in February and when this is taken into account with the final dividend adopted, it represents 45 percent increase compared to the previous year’s dividend of 56 kobo per share.
In addition, the company recorded a modest turnover growth of 2 percent, increasing from N71 billion to 72.9 billion.
The company’s chairman attributed this modest growth to the prevailing security challenges in the country and market competition.
Meanwhile, the company’s share price dropped from N51 the previous year to N36 as at May 31this year.
On the performance of the company’s products in the market in the year under review, Professor Edozien said: “Our key home and family care brands performed relatively well during the period. Growth of personal care brands was also strong while homecare was challenged by decline in commodity market.”
With the outbreak of Ebola in West Africa, the company introduced a global brand Carex, an antibacterial hand wash liquid which the chairman said “has since established a leading position in the antibacterial hand wash segment.”

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