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Nigerian Stocks on 6-day gaining streak, buyers benefit N154.4 billion WoW

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The Nigerian bourse closed the buying and selling consultation for the week cumulatively bullish. The NSE All-Share Index preferred through 0.35% to shut the week at 25,309.37. Stock marketplace capitalization stands at N13.203 trillion, and traders won N154.forty three billion WoW.

A general turnover of 1.072 billion stocks really well worth N7.384 billion in 16,684 offers changed into traded this week through traders at the ground of the Exchange, in assessment to a complete of 950.414 million stocks worth N10.123 billion that exchanged fingers final week in 16,647 offers.

The Financial Services industry (measured through extent) led the pastime chart with 586.761 million stocks worth N4.022 billion traded in 8,483 offers; therefore contributing 54.76% and 54.47% to the whole fairness turnover extent and price respectively.

The Conglomerates Industry observed with 307.744 million stocks really well worth N799.159 million in 1,010 offers. In the 1/3 vicinity changed into the Consumer Goods industry, with a turnover of 50.a hundred and seventy million stocks really well worth N968.272 million in 3,018 offers.

Trading withinside the pinnacle 3 equities, particularly Transnational Corporation of Nigeria Plc, UACN Plc, and United Bank for Africa Plc (measured through extent), accounted for 396.337 million stocks really well worth N1.373 billion in 1,845 offers, contributing 36.99% and 18.59% to the whole fairness turnover extent and price respectively.

29 equities preferred in rate at some stage in the week, decrease than 31 equities withinside the preceding week. 36 equities depreciated in rate, better than 27 equities withinside the preceding week, even as ninety eight equities remained unchanged, decrease than a hundred and five equities recorded withinside the preceding week.

Top 10 gainers for the week

  • UNIVERSITY PRESS PLC up 31.45% to shut at N1.63
  • FTN COCOA PROCESSORS PLC up 20.00% to shut at N 0.24
  • CHAMPION BREW. PLC up 19.23% to shut at N0.93
  • NEM INSURANCE PLC up 14.97% to shut at N2.15
  • P Z CUSSONS NIGERIA PLC up 9.09% to shut at N4.20
  • UNITY BANK PLC up 7.69% to shut at N0.56
  • AXAMANSARD INSURANCE PLC up 7.60% to shut at N1.84
  • UNILEVER NIGERIA PLC up 7.53% to shut at N15.00
  • WAPIC INSURANCE PLC up 6.06% to shut at N0.35
  • FCMB GROUP PLC up 5.91% to shut at N2.15

Top 10 losers for the week

  • BETA GLASS PLC down 9.99%  to shut at N55.40
  • ARBICO PLC down 9.52% to shut at N1.14
  • C & I LEASING PLC down 9.09% to shut at N4.00
  • CONSOLIDATED HALLMARK INSURANCE PLC down 8.11% to shut at N0.34
  • CUTIX PLC down 7.89% to shut at N1.75
  • FIDSON HEALTHCARE PLC down 7.25% to shut at N3.71
  • NEIMETH INTERNATIONAL PHARMACEUTICALS PLC down 7.00% to shut at N1.86
  • GUINNESS NIG PLC down 6.91% to shut at N14.15
  • AFRICA PRUDENTIAL PLC down 6.67% to shut at N4.20
  • TRANSNATIONAL CORPORATION OF NIGERIA PLC down 6.56% to shut at N0.57

Outlook

The Nigerian inventory marketplace completed the buying and selling week on an excellent note. That said, it ought to be stated that the bourse changed into all bullish all through the buying and selling week, as nearby traders extended their shopping for pressures on blue-chip shares which consist of MTN, GTBank, Zenith Bank, Unilever, and now no longer forgetting a few tier 2 banks (Unity Bank and FCMB).

The current balance withinside the forex marketplace additionally supplied the wanted marketplace self assurance in boosting marketplace liquidity relatively.

However, Themoneymetrics envisages careful shopping for of shares amid the gaining streak of Nigerian Stocks, as it’s anticipated that traders will take income in next buying and selling days ahead.

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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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STOCK MARKET

SAHCO’s Chairman purchases additional shares worth N82 million

Taiwo Afolabi has increased his stakes in the aviation handling company.

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Taiwo Afolabi, the Chairman of Skyway Aviation Handling Co. Plc (SAHCO), a subsidiary of the SIFAX Group, has increased his stakes in the aviation handling company with the purchase of 28 million additional shares of the company.

The total value of the shares of SAHCO Plc purchased by him is valued at N82 million.

This is according to a Notification of Share Dealing by an Insider, issued by the Company Secretary, Bello Omolara, and published on the website of the Nigerian Stock Exchange (NSE).

The disclosure which is compliant with NSE’s policy on insider dealing, revealed that Afolabi acquired the 28 million additional shares of the company in four deals on the floor of the Nigerian Stock Exchange, between the 23rd and 24th of December 2020.

The total consideration for the shares purchased by SAHCO’s Chairman between 23rd and 24th of December 2020 however is put at N82,040,000.00.

Why this matters

  • Dealings by insiders of listed companies are corporate actions to be disclosed by the management of the company. This is in compliance with NSE’s policy on insider dealing, as the disclosure is key in the effort to ensure transparency and reinforce the trust of the investing public.
  • The purchase of the shares of SAHCO Plc further cements the Chairman’s position as a substantial shareholder of the aviation handling company.

What you should Know

  • SAHCO, formerly known as Skypower Aviation Handling Company Limited, was carved out of the defunct Nigeria Airways Limited, as part of the Nigerian Federal Ministry of Aviation’s Reform of 1996.
  • On the 23rd of December 2009, the Federal Government of Nigeria handed the company over to the Sifax Group, after a well-contested open privatization bid in which Sifax Group came first as the preferred bidder with the sum of N5.52 billion.
  • The company was subsequently listed on the Nigerian Stock Exchange on the 23rd of April 2019, and since then continues to maintain its status as a subsidiary of the SIFAX Group.
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