Cutix Plc has projected that in the fourth quarter of its financial year 2021, its revenue will double and profit will increase by 9% to N148 million.

These projections were made by the company in a recent earnings forecast issued by the Management, and signed by the Company’s CEO and CFO.

READ: Vitafoam shares gain 9.6%, as company reports N4.11 billion as profit in 2020

Key highlights of the earnings forecast for Q4 ended April 30, 2021

• Revenue to increase to N1.66billion, 100% Q-o-Q.
• Cost of Sales to increase to N1.16 billion, 70% Q-o-Q.
• Distribution, Admin & Other expenses to increase to N232.89 million, 14%% Q-o-Q.
• Other Income to remain unchanged at N2.50 million,
• Finance Charges to increase slightly to N47.38 million, 3% Q-o-Q.
• Operating income to increase to N227.83 million, 14% Q-o-Q.
• Taxation is projected at N79.74 million.
• While Profit attributable shareholders is projected at N148.10 million.

READ: Royal Exchange Plc forecasts N500.83 million PAT in Q1 2021

Bottom line

The earnings forecast was made on the ground that the Nigerian economy will continue improve, as the country recovers from the impact of COVID-19. In this regard, revenue in the fourth quarter of 2021 will be slightly higher than the revenue projected in the third quarter of 2021.

READ: Okomu Oil Plc records 27.01% decline in 2020 Q3 revenues

However, the increase in the cost of sales driven by the input cost will pressure profitability to the tune of N148.10 million, which is 9% higher than the profit after tax made in the corresponding quarter of 2020.

The Board of Directors of PZ Cussons Nigeria Plc has proposed the payment of N397.047 million to the shareholders of the company who currently hold the 3,970,477,045 fully paid ordinary shares of the company.

This disclosure was made public by the company in a notification issued and signed by the Company Secretary, Jacqueline Ezeokwelume, today the 7 January 2021.

She explained further that if the dividend of ten (10) Kobo per share recommended by Directors is approved by members at the Annual 72nd General Meeting, the dividend payments will be made on Monday, 1 February 2021.

What you should know

• The Register of Members and Transfer Books of the Company will be closed from Monday, 11 January 2021 to Friday, 15 January 2021 (both dates inclusive) for the purpose of preparing an up-to-date Register of Members.
• However, only shareholders whose names appear in the Register of Members and Transfer Books at the close of business on 19th October 2020 will receive the dividend on Monday, 1 February 2021.

What they are saying

Mr. Gbenga Oyebode, MFR, the Chairman of PZ Cussons Nigeria Plc, in his address said:

• “Fellow shareholders, the Board of Directors is recommending to the shareholders at this AGM, a dividend pay-out of N397,047,700 representing 10 Kobo per share (2019: 15 Kobo per share). If approved, the dividend will be paid to shareholders on Monday, 1 February 2021 after deducting the appropriate withholding tax.”

The Board of Directors of Neimeth International Pharmaceuticals Plc, has proposed a total final dividend of N123.45 million to be distributed to the shareholders of the company, as final dividend for the period ended 30th September 2020.

This information is contained in a corporate action announcement dated 30th December 2020, issued and signed by the Company Secretary, Mrs Florence Onyenekwe.

According to the announcement, the final dividend which sums up to N123.45 million when approved at the next Annual General Meeting (AGM) on 9th March 2021, will be paid to shareholders of the company who own the 1,250,844,000 ordinary shares of the company. This translates to a Final Dividend payment of 6.5 Kobo per share.

What you should know

• The final dividend of 6.5 Kobo per share will be paid for all the outstanding 1,899,157,107 ordinary shares of the company. This gives a total dividend of N123,445,211.95, to be distributed to the shareholders of the company.
• To enable Neimeth’s Registrars, Meristem Registrars and Probate Services Limited, prepare for the payment of the final dividend, the Register of Shareholders will be closed from 23rd February 2021 to 28th February 2021.
• The dividend will be paid on 12th March 2021, electronically to shareholders whose names appear on the Register of Members as at 12th March 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividend directly into their Bank accounts.
• Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.