Shareholders of PZ Cussons Nigeria Plc have approved a final dividend payout of N9.926 billion for the 2026 financial year, reflecting improved operating performance and a significant recovery in the company’s balance sheet following a period of financial restructuring.
The dividend, equivalent to N2.50 per ordinary share of 50 kobo each, was unanimously approved at the company’s 78th Annual General Meeting (AGM), held at Fraser Suites, Abuja, on Wednesday, October 28, 2026.
The payout comes as the consumer goods manufacturer seeks to consolidate its financial recovery, strengthen shareholder returns and reposition its Nigerian operations for sustained growth following the conclusion of a strategic review of its African businesses by its parent company.
Addressing shareholders at the meeting, Ifueko Omoigui Okauru, chair of the company’s board of directors, said the business had demonstrated resilience and recorded a year-on-year improvement in operating performance, supported by a restructured balance sheet.
“Our performance is improving year-on-year, and we will continue to leverage our strategic operating model and a more stable macroeconomic environment to drive growth and create value for all stakeholders,” she said.
The board also approved the implementation of a Scrip Dividend Scheme, which will allow qualifying shareholders to elect to receive new ordinary shares in the company instead of all or part of their cash dividend entitlement.
The scheme introduces an alternative approach to shareholder returns, potentially enabling the company to retain cash that would otherwise be distributed as dividends while giving participating investors an opportunity to increase their equity holdings.
Under the resolutions adopted at the AGM, shareholders approved an extension of the election deadline for the scrip dividend from November 23, 2026, to November 4, 2026. The final cash dividend of N2.50 per share is scheduled for payment on November 6, 2026.
The approval of the dividend attracted commendation from shareholders, who described the payout as a demonstration of the board and management’s commitment to rewarding investors despite persistent operating challenges in Nigeria’s business environment.
Peter Essien, chairman of Viewpoint Shareholders Association, Uyo, commended the company’s leadership for its management of the business and the improvement in revenue and profitability recorded in the financial year ended May 31, 2026.
“Special kudos to the board and management of the company for the outstanding performance recorded for the financial year ended May 31, 2026. I am happy and satisfied with the growth witnessed over the last few years,” Essien said.
Similarly, Patric Ajudua, chairman of New Dimension Shareholders Association, praised management for its financial prudence and balance sheet deleveraging, which he said had helped the company move from a negative equity position of N17.3 billion to positive equity of N66.6 billion.
Omoigui Okauru said the company remained focused on expanding its business and delivering sustainable value to stakeholders following the strategic review and the decision to retain the Nigerian subsidiary.
