By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-PZ Cussons Nigeria Plc Thursday announced a 56 Kobo dividend payout to investors of the company for the 2013 audited year end.

PZ Cussons in its corporate actions to the Nigerian Stock Exchange (NSE) proposed a dividend of 56 Kobo for year 2013 end compared to N43 paid in 2012; indicating an increase of 30.23% in the review period.

The company had in year 2012 end paid a lower dividend of 43 Kobo compared to 63 Kobo paid in year 2011 end; showing a lower dividend of 32%.

PZ Cussons had said the lower dividend payment was a reflection of the reduction in its profit level in year 2012 when it recorded a post tax profit of N2.41 billion compared to N5.217 billion in 2011.

With the 56 Kobo proposed for the 2013 year end, dividend payment is yet to reach the 63 Kobo level paid in year 2011.

A review of the audited report for the period ended May 31 2013 shows that post tax profit of the firm increased from N2.539 billion in 2012 end to N5. 321 billion in the review period of year 2013; representing an increase of 109.6%.

Pre tax profit also grew from N4.306 billion in 2012 end to N7.650 billion in 2013; showing a growth of 77.7% in the review period.

However, revenue declined slightly from N72.154 billion in 2012 end to N71.343 billion in the review period of 2013; indicating a decline of 1.1%.