The Board of Directors of PZ Cussons Nigeria Plc (NGX: PZ) has proposed a final dividend of N1.01 per ordinary share for the financial year ended 31 May 2022.
The proposed dividend which amounts N4.01 billion is subject to the approval of shareholders in the company’s next Annual General Meeting and appropriate withholding tax.
If approved, the dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday 6th January 2023, according to the filing with the Nigerian Exchange.
On Thursday 26 January 2023,, dividends will be paid electronically to shareholders who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their bank accounts.
Shareholders who are yet to complete the e-dividend registration are advised to do so.
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PZ Cussons Nigeria Plc grew its revenue by 21% and the profit after tax by 277% for the year ended May 31, 2022, according to the unaudited interim financial statement for the period released by the company.
The Proposed dividend payout is 59.86% of the profit after tax.
The share price of PZ Cussons Nigeria Plc closed flat at N9.20 per share on the floor of the Nigerian Exchange on Tuesday.
The dividend yield at the current price will be 10.98% . However, actual yield will be lower when the withholding tax and buy charges are taken into consideration.
PZ Cussons Nigeria Plc has 3,970,477,045 outstanding shares.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.