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PZ offers 56 kobo dividend, as Zenith Bank’s profit dips

By on August 17, 2013

Personal and household products’ major player, PZ Cussons Nigeria, on Thursday informed stockbrokers and management of the Nigerian Stock Exchange (NSE) in its full year financial result ended May 31, 2013, that it is offering a total dividend of 56 kobo per 50 kobo ordinary share to its shareholders.

If this recommendation by the company’s board is approved by the shareholders at its annual general meeting in Abuja on September 26, 2013, the dividend of 56 kobo will be paid on October 2, 2013 to all shareholders whose names appear on the register of the company at the close of business on September 16, 2013.

In its comprehensive income for the period, PZ reported a profit after tax of N5.321 billion from N2.528 billion reported in the corresponding period of 2012; representing an improvement of 109.59 per cent; profit before tax rose by 77.63 per cent from N4.306 billion to N7.650 billion. However, the revenue for the year dropped by 1.12 per cent as it fell from N72.154 billion in 2012 to N71.343 billion.

In a similar vein, Zenith Bank also submitted its half year financial result ended June 30, 2013 posting a profit after tax of N42.411 billion from N45.419 billion reported in the comparable period of 2012; representing a drop of 7 per cent; while profit before tax also dropped by 8 per cent from N54.083 billion in 2012 to N50.163 billion.

Gross earning rose to N171.024 billion from N151.103 billion; representing an improvement of 13 per cent; cash and cash equivalents rose to N1.280 billion from N1.061 billion; loans and advances improved by 10 per cent to close at N1.066 trillion from N972.242 billion; deposit also jumped by 18 per cent from N1.701 trillion to N2. trillion; while net assets stood at N458.319 billion from N402.713 billion.

Meanwhile, indicators of the NSE rebounded at the close of trading on Thursday when equities capitalisation closed at N11.752 trillion after appreciating by N2.523 billion as against N11.750 trillion recorded on Wednesday.

[Daily Independent]