By Dipo Olowookere
The board of directors of PZ Cussons Nigeria has recommended the payment of 50 kobo dividend for the full year ended May 31, 2017.
The firm, which also released its financial statements for the period on Wednesday, stated that its revenue grew in the period under review, increasing to N79.63 billion from N69.53 billion 12 months ago.
It was disclosed that the final dividend pay-out amounts to N1.99 billion and if approved, would be paid to shareholders on Friday, October 13, 2017, after deducting the appropriate withholding tax.
Meanwhile, PZ Cussons said it would hold its 69th Annual General Meeting (AGM) on Thursday, October 12, 2017 at the BON Hotel Stratton Asokoro (formerly Protea Hotel), Abuja at 10am.
During the meeting, the company will present to shareholders report of the Directors, the Financial Statements for the year ended 31 May 2017 and the Reports of the Auditors and the Audit Committee thereon.
Also, the meeting will seek to appoint a new independent auditor to replace the retiring Messrs PricewaterhouseCoopers and propose the appointment of another independent auditor, Akintola Williams Deloitte.
In addition, the firm will seek to authorize the procurement of goods and services necessary for its operations from related companies in compliance with the NSE Rules Governing Transactions with Related Parties or Interested Persons.
