[BRANDWEEK REPORT] PZ CUSSONS DISBURSE N2.4BILLION AS SHAREHOLDER’S DIVIDEND.

[BRANDWEEK REPORT] PZ CUSSONS DISBURSE N2.4BILLION AS SHAREHOLDER’S DIVIDEND.

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Monday, 05 October 2015
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Shareholders of PZ Cussons Nigeria Plc last week approved N2. 422 billion for payment as final dividend for the company’s financial year ended 31 May, 2015. The dividend, which translates to 61 kobo per share, was approved by the shareholders at the company’s 67th annual general meeting (AGM) held in Calabar, Cross Rivers State.
Speaking at the AGM, the Chairman of PZ Cussons, Chief Kola Jamodu said the amount approved for payment of final dividend was an addition to N794 million interim dividend or 20 kobo per share approved earlier in the year.
According to Jamodu, the approval of the final dividend brought the total dividend for the financial year to N3.214 billion.
The chairman said during the financial year, the company’s turnover increased to N73. 1 billion from N72.9 billion, in spite of the adverse economic condition and increasing competitive business environment.
He stated that profit before taxation for the financial year dropped to N6.557 billion in 2015, from N6.950 billion for the 2014 financial year.
Jamodu said the tough operating environment, notwithstanding, the company performed satisfactorily when placed side by side with its competitors.
He said the baby care and medicament categories of the company’s business operation recorded significant growth.
The chairman said with a stable political environment in the country, the future of business for PZ Cussons looks very bright.
He promised the shareholders that the company will continue to optimise its supply chain process as well as improve its operational efficiency.
On PZ’s investment plans for the future, Jamodu said it will continue to invest in its core brands and growth categories.
The chairman said the company would continue to engage on its corporate social responsibility by supporting local communities through PZ Cussons Foundation.
He expressed gratitude to the staff of the company, assuring them that they will continue to invest in leadership training programmes to develop their capacities.

Credits: Bassey from calabar

Posted by: thebrandadioblog

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