PZ Cussons proposes N2.50 dividend
PZ Cussons Nigeria Plc has notified the Nigerian Exchange Limited and the investing public of its proposed corporate actions for the financial year ended 31 May 2026, recommending a final dividend of N2.50 per ordinary share of 50 kobo each.
The proposed dividend payout is subject to appropriate withholding tax deductions and shareholder approval at the company’s upcoming Annual General Meeting scheduled for 28 October 2026, in Abuja.
If approved, the dividend will be paid electronically on 30 October 2026, to qualifying shareholders whose names appear in the Register of Members as of the close of business on 9 October 2026, and who have completed their e-dividend mandates.
The consumer goods giant confirmed that its Register of Members will be closed from Monday, 12 October 2026, to Friday,16 October 2026, to facilitate the dividend distribution. No bonus issue was recommended for the period.
Alongside the cash payout, the board is recommending a scrip dividend option, allowing qualifying shareholders to elect to receive new ordinary shares instead of cash.
The corporate notice, signed by the Company Secretary, Oghenekevwe Ogefere, stated that the reference price for calculating the scrip share allocation would be based on a 10-day volume-weighted average price of the company’s shares traded on the NGX, commencing 12 October 2026.
Shareholders opting for the scrip alternative must submit their election forms on or before 23 October 2026.
PZ Cussons urged shareholders yet to complete their electronic dividend registration to submit the mandate forms to its registrar, First Registrars & Investor Services Limited, to curb the growth of unclaimed dividends across the capital market.
The proposed payout comes against the backdrop of ongoing foreign exchange realignments and operational restructuring within the fast-moving consumer goods sector. Over recent financial quarters, major multinational FMCG operators on the NGX have navigated severe foreign exchange losses and elevated raw material costs, driving many to implement balance sheet optimisations.
The introduction of a scrip dividend option provides PZ Cussons with a strategic dual advantage: offering immediate returns to income-focused investors while simultaneously enabling the company to preserve critical local cash reserves to buffer working capital requirements in a challenging macroeconomic environment.
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