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STOCK MARKET

MTN, Seplat, Mobil record gains, ASI up by 0.50%

SEPLAT led the gainer’s chart today, while ETERNA was the top loser.

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The Nigerian equities market witnessed another green day, as investors take positions in blue-chip stocks.

The All-Share Index and market capitalization added 0.50% to settle at 25,783.02 points and N13.474 trillion respectively, reducing the YTD loss to 3.92%.

  • A total volume of 414 million units of shares, valued at N6.28billion exchanged hands in 3,793 deals.
    STERLNBANK was the most traded shares by volume at 85.2million units while MTNN topped by value at N3.12billion.
  • Investor sentiment as measured by market breadth was positive as 21 stocks advanced against 14 decliners. SEPLAT (+3.90%) led the gainer’s chart today, while ETERNA (-6.72%) was the top loser.
  • NSE Oil & Gas Index: Improved by 2.02%, on SEPLAT (+3.90%).
  • NSE Consumer Goods Index: Gained by 1.35%, on price appreciation in INTBREW (9.09%) and NB (3.57%)
  • NSE Insurance Index: Up by 1.09%, on price appreciation in PRESTIGE (+9.09), CORNERST (8.33%), and LASACO (3.85%)
  • NSE Banking Index: Up by 0.65%, buoyed by FCMB (+1.94%), ZENITHBANK (+1.80%) and FIDELITYBK (+1.69%).
  • NSE Industrial Index: inched by 0.09%, on WAPCO (+1.54%)

Top gainers

  • SEPLAT N385 N400 15 3.90%
  • NB N42 N43.5 1.5 3.57%
  • MTNN N123 N123.9 0.9 0.73%
  • MOBIL N192.5 N193.1 0.6 0.31%
  • FLOURMILL N19.65 N20 0.35 1.78%

Top losers

  • ETERNA N2.68 N2.5 -0.18 -6.72%
  • BOCGAS N4.36 N4.25 -0.11 -2.52%
  • AFRIPRUD N4.45 N4.35 -0.1 -2.25%
  • NPFMCRFBK N1.3 N1.22 -0.08 -6.15%
  • CUSTODIAN N4.85 N4.8 -0.05 -1.03%

Outlook

Nigerian bourse closed Wednesday’s trading session amid rising cases of the COVID-19 virus globally.

  • Buying pressures from NSE30 stocks like Seplat, MTN Nigeria, Mobil, Nigerian Breweries, Flourmill triggered the bourse to closed green.
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STOCK MARKET

Nigeria’s stock market soars amid plunge in CWG and IKEJAHOTEL

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Nigeria’s stock exchange market ended today’s trading session bullish, posting a profit at the end of the trading session. The All-Share Index increased by +0.18% to close at 38,482.52.

• The Nigerian Stock Exchange market value currently stands at N20.3Trillion. Its Year-to-Date (YTD) returns currently stands at -4.44%.
• The market breadth closed positive today as UPL led 15 Gainers, and 20 Losers were topped by CWG at the end of the session showing a consolidation as movement is not certain.

Top gainers

1. UPL up +9.38% to close at N1.40
2. REGALINS up +8.16% to close at N0.53
3. VERITASKAP up +5.00% to close at N0.21
4. CHIPLC up +4.17% to close at N0.75
5. ROYALEX up +3.90% to close at N0.80

Top losers

1. CWG down -9.66% to close at N1.87
2. IKEJAHOTEL down -9.09% to close at N1.00
3. NASCON down -8.78% to close at N13.50
4. JOHNHOLT down -8.62% to close at N0.53
5. LINKASSURE down -8.33% to close at N0.55

Outlook

• Market sentiments trend towards the bulls as 15 gainers outweighed 20 losers.

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STOCK MARKET

Custodian Investment declares final dividend of N2.65 billion to shareholders

Custodian Investment Plc has announced the payment of a final dividend of 45 kobo for every share of 50 kobo held by shareholders.

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The Board of Directors of Custodian Investment Plc has announced the payment of a final dividend of 45 kobo for every share of 50 kobo held by shareholders, making a total of N2.65 billion to be paid to shareholders for the year ended 2020.

This is according to a disclosure signed by the company’s secretary, Adeyinka Jafojo, which was sent to the Nigerian Stock Exchange.

According to the notification, the accrued final dividend will be disbursed electronically to qualified shareholders on the 22nd of April, 2021, subject to appropriate withholding tax and approval from the Annual General Meeting scheduled the same day.

It is also worth noting that the company had paid an interim dividend of 10kobo for the half-year period of 2020.

What you should know

The qualifying conditions for payment on the aforementioned date are;

  • Only shareholders, whose names appear in the register of members as at close of business on 9th of April, 2021 will be considered for payment.
  • Shareholders must have completed the E-Dividend registration.
  • Shareholders must have mandated the Registrar (Meristem Registrars and Probate Service Limited) to pay their dividends directly into their bank accounts.
  • Custodian Investment Plc has total shares outstanding of 5,881,864,195 and currently trading at N6.
  • A total dividend of 55 kobo has been thus declared for FY 2020 (45 kobo+10 kobo interim).

In lieu of this, the register of members will be closed from 12th-16th of April 2021 (both dates inclusive).

Drivers

Custodian Investment Plc had recently posted an impressive financial performance, evident by a surge in key financial metrics for the year ended 2020. For example, it recorded the following;

  • Profit after tax of N12.69 billion for the year (+111% YoY).
  • Profit Before Tax of N13.69 billion. (+69.6% YoY)
  • Earnings per share N194 vs N97. (+111.04% YoY)
  • Retained Earnings of N25.38 billion (+9.7% YoY).
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STOCK MARKET

NB Plc to pay N5.52 billion dividend, says shareholders can receive new shares

The board of Nigerian Breweries Plc has proposed N5.52 billion as dividend to shareholders for 2020.

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Nigerian Breweries Plc is set to reward shareholders of the company with N5.52 billion as dividend for the period ended 31st December 2020.

This is in line with the Board’s recommendation as the dividend is subject to the deduction of the appropriate withholding tax, and approval by shareholders of the company at the Annual General Meeting slated for 22nd of April 2021.

According to the notification issued by the Company Secretary, Uaboi G. Agbebaku, at the close of trading activities, the dividend declared by Nigerian Breweries on a per-share basis was pegged at 69 kobo per share. This puts the total dividend to be paid to shareholders at N5,517,862,415.19.

Shareholders can opt to receive new shares of the company

The Board of the Company however provided shareholders with the option to receive new shares of Nigerian Breweries, as Qualifying Shareholders have the right of election to receive new ordinary shares in the company instead of the final dividend in cash. This election is required to be made on or before the 10th of April, 2021.

In view of this, the Reference Share Price for the purpose of determining the number of shares due to Qualifying Shareholders who elect for the share option will be a ten-day trading average of the Company’s share price on the floor of The Nigerian Stock Exchange, starting on the 11th of March, 2021.

What you should know

  • It is important to note that the dividend declared is subject to appropriate withholding tax and the approval of shareholders at the Brewer’s next Annual General Meeting.
  • Qualifying Shareholders: The dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on the 10th of March, 2021.
  • Payment Date: On the 23rd of April, 2021, the dividends will be paid electronically to Qualifying Shareholders
  • To qualify for the dividend payment: Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend mandate Activation Form, which is available at, complete same and submit to the Registrar of their respective Banks.
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