Nigerian bourse continued its second trading session for the week on a bearish note.
The All Share Index gained 0.33% to close at 25,497.32 points as against a 0.09% drop recorded on Monday.
Nigerian Stock Market capitalization presently stands at N13.302 trillion Its Year-to-Date (YTD) returns currently stands at -5.01%. Investors’ losses stood at N42.84 Billion.
Nigerian Stock Exchange trading turnover printed negative as volume dipped by 5.07% as against the 39.24% plunge recorded in the previous session. CUSTODIAN, FBNH, and ZENITHBANK were the most active to boost market turnover.
Market breadth closed negative as CAP led 10 Gainers as against 19 Losers topped by ARBICO at the end of today’s session an unimproved performance when compared with the previous outlook.
- CAP up 2.65% to close at N17.45
- NB up 2.50% to close at N41
- FBNH up 2.02% to close at N5.05
- NAHCO up 1.91% to close at N2.13
- MTNN up 0.76% to close at N119.5
- ARBICO down 9.65% to close at N1.03
- GUARANTY down 6.18% to close at N24.3
- ZENITHBANKdown 2.31% to close at N16.9
- UBN down 3.92% to close at N4.9
- GUINNESS down 2.78% to close at N14
Nigerian bourse continued its downward trend at Tuesday’s trading sessions, after the U.S dollar’s upward move in value powered down Nigeria’s major export (crude oil), which saw its pricing losing as much as 4% and traded below $40.
In addition, the upsurge in COVID-19 caseloads in key international markets continued to rattle local investors’ nerves.
It should also be noted that significant losses in Nigeria’s tier-1 banks (GTBank, Zenith Bank) neutralized gains recorded by MTN.
Nigeria’s stock market soars amid plunge in CWG and IKEJAHOTEL
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.
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
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
• Market sentiments trend towards the bulls as 15 gainers outweighed 20 losers.
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.
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).
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).
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.
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.