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Stock Market

PZ Cussons approves final dividend of N397 million for the year ended May 2020

PZ Cussons declares a dividend of N397 million for payment to shareholders, at the rate of 10k per share to shareholders of the company

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PZ Cussons Plc, PZ Cussons Nigeria Plc

PZ Cussons has declared that a dividend of N397.05 million for the year ended 31 May 2020, has been approved for payment to shareholders. This resolution was made at the 72nd AGM of the company which held on Friday, 29 January 2021

According to the disclosure issued by the Company Secretary, Jacqueline Ezeokwelume, the dividend will be paid at the rate of 10k per share to shareholders of the company, who currently hold 3,970,477,045 fully paid ordinary shares of the company.

What you should know

At the close of trading activities today at the stock market today, the shares of the company closed at N5.25 per share after a total of 356,265 ordinary shares of the company were exchanged in deals worth N1,906,287.10.

At the current price, the current dividend yield of the shares of PZ stands at 1.9%

Other resolutions approved at the AGM include;

  • In addition to the declaration of dividend to the shareholders of the company, the Directors’ remuneration for the financial year 2020/2021 was proposed and approved.
  • In the same vein, directors of the company were authorised to fix the remuneration of the Auditors, of the company.

While the shareholders of PZ Cussons also approved the mandate, which will enable the management of the company to enter into transactions with related parties for the Company’s day-to-day operations.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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