Bloomberg News

PZ Cussons Nigeria Advances on Dividend Bets: Lagos Mover

May 31, 2012

PZ Cussons Nigeria Plc (PZ), a consumer products manufacturer, climbed to the highest level in more than six weeks as investors bet the company will declare a dividend for the full year that ends today.

The stock rose 3.5 percent to 23.85 naira at the close in Lagos, the commercial capital, the highest since April 16.

“Today is the last day of the company’s financial year, so investors are taking position on the stock in anticipation of dividend and bonus declaration,” Raheem Mohammed, chief operating officer of Kundila Finance Ltd., said by phone from Lagos today.

To contact the reporter on this story: Vincent Nwanma in Lagos at vnwanma@bloomberg.net

To contact the editor responsible for this story: Dulue Mbachu at dmbachu@bloomberg.net


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