PZ Cussons Nigeria AGM 2026: Dividend, New Directors, Scrip Option

At its 78th AGM held at Fraser Suites, Abuja, PZ Cussons Nigeria Plc passed nine resolutions covering dividends, board changes and governance amendments.

The company declared a final dividend of ₦2.50 per ordinary share of 50 kobo, amounting to a total payout of ₦9,926,192,613 for the financial year ended 31st May 2026. The dividend is payable on 6th November 2026 to shareholders on the register as at 9th October 2026, subject to withholding tax.

On board composition, shareholders approved the appointments of Mr. Oghale Elueni as MD/CEO and Mr. Oludare Ebenezer Elusakin as CFO, both in line with Section 274(2) of CAMA 2020. Mrs. Oluwatoyin Odutayo and Mallam Ballama Manu were re-elected as directors.

Directors' fees for the year ending 31st May 2027 were fixed at ₦26,000,000 for the Board Chair and ₦18,000,000 for each non-executive director, with sitting allowances of ₦500,000 and ₦400,000 respectively.

Three special resolutions amended the Articles of Association to introduce a Scrip Dividend Arrangement, allowing shareholders to elect to receive new fully paid ordinary shares in lieu of cash dividends, subject to board-determined terms and conditions.