PZ Cussons Nigeria Plc has declared a dividend of 50 kobo for the financial year ended May 31, 2017. According to the financial statement that was released to the Nigerian Stock Exchange (NSE), the dividend that was proposed by the directors is same figure that was paid to shareholders in the last financial year.
Although the company earnings per share was up by 78.41 percent, from 0.47 kobo in 2016 to 0.84 kobo in 2017. Details of the corporate action shows that register of members will close between October 6, 2017, while payment date is October 13, 2017. The dividend is subject to shareholders approval at the company Annual General Meeting (AGM) slated for October 12, 2017.
Analysis of the full year account shows that the company was able to grow its profit for the year by 73.10 percent, from N2,129,69 billion in 2016 to N3,686,60 billion in 2017. Profit before tax stood at N4,811,17 billion which is above N3,148,20 billion that was recorded same period in 2016, showing a growth of 52.82 percent.
Revenue for the period also went up by 14.53 percent, from N69,527,54 billion in 2016 to N79,630,11 billion in 2017. Cost of sales was up by 4.78 percent from N49,326,18 million in 2016 to N51,682,21 billion in 2017.