PZ declares profit as shareholders approve N992.6m dividend

From left: Chief Financial Officer, Momoniat Zuber; Independent Non-Executive Director; Mrs Elizabeth Ebi; Chief Executive Officer, Panagiotis Katsis; Chairman, Board of Directors, Mr Gbenga Oyebode; MFR, Executive Director, Human Resources and Administration, Ms Joyce Folake Coker and Company Secretary/Head, Governance & Compliance, Mrs Jacqueline Ezeokwelume, at the just concluded Annual General Meeting of PZ Cussons Nigeria PLC in Lagos.

Sat, 29 Jan 2022 3:20:03 WAT

Shareholders of PZ Cussons Nigeria PLC have approved a dividend pay-out of N992.62 million resulting in 25k final dividend per share.

According to a release issued by PZ management, the 2021 Annual Report and Financial Statement was considered and approved at the company’s 73rd Annual General Meeting held at Ilupeju.

The final dividend per share is an improvement over last year’s 10k per share.

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“Revenue increased by 23 per cent to N82.578bn from the previous year of N66.99bn, resulting in 143 per cent increase in profit before taxation against a loss of N7.939bn recorded in year 2020.

“Growth has been broad based reflecting in all the business units and many of PZ’s leading brands with solid performance in hygiene, home and personal care. HPZ continued to grow sales by 24 per cent ahead of the previous year.

“In Supply Chain space, the business is transforming supply chain to further unlock value, localization of raw material sourcing, blending flexibility and delivery of new product development initiatives. We will continue to toe the line of sustainability in tune with best global practices”, the statement said.

Shareholders applauded the company for a commendable performance and look forward to a sustainable growth of revenue and profitability.

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