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Shareholders approved a final dividend of ₦2.50 per ordinary share, amounting to ₦9.926 billion for the 2026 financial year.
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The company will offer qualifying shareholders the option of receiving new shares instead of cash under its Scrip Dividend Scheme.
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PZ Cussons said its balance sheet had moved from a negative equity position of ₦17.3 billion to positive equity of ₦66.6 billion.
November 02, (THEWILL) – Shareholders of PZ Cussons Nigeria Plc have approved a final dividend payout of ₦9.926 billion for the 2026 financial year, following an improvement in the consumer goods manufacturer’s financial position.
The dividend, approved at the company’s 78th Annual General Meeting in Abuja, translates to ₦2.50 per ordinary share of 50 kobo each.
The company said it would pay the dividend on November 6, 2026, to shareholders whose names appear on its register, subject to the applicable qualification requirements.
The approval follows PZ Cussons’ improved financial performance for the year ended May 31, 2026, and a restructuring of its balance sheet.
Shareholders Offered Cash Or Share Dividend
At the meeting, the Board Chair, Ifueko Okauru, announced that the board had approved a Scrip Dividend Scheme, allowing eligible shareholders to receive new ordinary shares instead of all or part of their cash dividend entitlement.
Under the arrangement, shareholders can choose between receiving cash and taking up additional shares in the company.
Shareholders also approved a resolution extending the election deadline for the Scrip Dividend Scheme from November 23 to November 4, 2026.
The scheme provides an alternative for investors who prefer to retain their dividend value in the company rather than receive cash, while potentially allowing PZ Cussons to conserve cash.
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Balance Sheet Moves Into Positive Equity
The company’s improved financial position also featured prominently at the AGM, with shareholders highlighting the reduction in its balance-sheet pressure.
The Chairman of the New Dimension Shareholders Association, Patrick Ajudua, said PZ Cussons had moved from a negative equity position of ₦17.3 billion to positive equity of ₦66.6 billion.
He attributed the improvement to management’s financial discipline and efforts to reduce the company’s debt burden.
Okauru said the company would continue to build on its operating performance and leverage a more stable macroeconomic environment to support growth.
The dividend approval also follows the conclusion of a strategic review of PZ Cussons’ African businesses, after which its parent company decided to retain the Nigerian operation as part of the wider group.
PZ Cussons Nigeria manufactures and distributes consumer brands including Morning Fresh, Premier, Cussons Baby, Carex, Imperial Leather and Canoe, as well as Haier Thermocool home appliances.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
