Insider Trades of Executives of Fidelity, UBA and Cutix
As always, Investors King Ltd documents all insider trades within the Nigerian Stock Exchange to allow stock investors and the public have an insight into what is going on in each of the listed companies.
In filings to the Nigerian Stock Exchange, Fidelity Bank Plc said Mr. Gbolahan Joshua, an Executive Director of the bank, purchased 2,323,529 shares at 1.80 per unit share on September 23, 2020.
Similarly, the lender said another Executive Director, Mr. Obaro Odeghe, acquired 2,000,000 shares in two transactions. The bank said Odeghe purchased 1,978,500 shares at N1.79 per share and another 21,500 shares at N1.80 per share on September 23, 2020 in Lagos.
Also, Cutix Plc announced that Dr. Gilbert Obiajulu Uzodike added to his stake in the company, the substantial shareholder bought additional 300,000 shares at N1.70 per share on September 18, 2020.
He acquired another 45,321 shares at N1.70 per share on September 21, 2020.
Meanwhile, Tony Elumelu, the Board Chairman of UBA, added 116 shares at N6.0 per share to its holding in UBA, according to the latest filing released on the Nigerian Stock Exchange.
The entrepreneur cum philanthropist and his family have been on buying spray this week. As reported by Investors King on Thursday, the acquired around 5 million shares of UBA earlier in the week to up their stake in the bank.
Market Value of Nigerian Stock Market Drops Below N22 Trillion
Nigerian stock market dipped further on Monday to push the Exchange total market capitalisation below the N22 trillion mark.
Investors traded 422,180,395 shares valued at N4.470 billion in 5,059 transactions during the trading hours of Monday. While market value of all listed stocks dipped to N21.920 trillion, a decline of N83 billion from N22.003 trillion recorded on Friday.
The Nigerian Exchange All-Share Index depreciated by 0.38 percent to 42,008.6 index points on Monday from 42,167.91 index points it closed on Friday.
Sectorial analysis showed the NGX Banking Index lost 137bps on FIDELITY (-5.60%), UBA (-5.06%), UNITYBANK (-3.92%), ACCESS (-2.25%), STERLINGBANK (-0.68%) and GTCO (-0.62%).
The NGX Consumer Goods Index lost 34bps on UNILEVER (-4.00%), DANGSUGA (-3.13%) and HONYFLOUR (-1.14%). CHAMPION (+7.92%), INTBREW (+2.04%) and PZ (+0.84%) gained points.
The NGX Oil and Gas Index shed 11bps on ETERNA (-4.13%) and The NGX Industrial index shed 58bps on WAPCO (-9.94%).
A total of 10 stocks closed in the green, against 24 that closed in the red. The Exchange year-to-date return dropped to 4.32 percent. See other details below.
Top Five Gainers
|ROYALEX||N 0.53||N 0.58||0.05||9.43 %|
|MEYER||N 0.22||N 0.24||0.02||9.09 %|
|CHIPLC||N 0.44||N 0.48||0.04||9.09 %|
|UPDC||N 0.99||N 1.08||0.09||9.09 %|
|CHAMPION||N 2.40||N 2.59||0.19||7.92 %|
Top Five Losers
|WAPCO||N 24.65||N 22.20||-2.45||-9.94 %|
|LINKASSURE||N 0.56||N 0.51||-0.05||-8.93 %|
|ABCTRANS||N 0.34||N 0.31||-0.03||-8.82 %|
|VITAFOAM||N 21.90||N 20.00||-1.90||-8.68 %|
|FIDELITYBK||N 2.50||N 2.36||-0.14||-5.60 %|
Top Five Trades
Nigerian Stock Investors Lose N595 Billion Last Week
The Nigerian Exchange Limited (NGX) sustained its downward trend last week as investors continue to sell their holdings and hold off for the remaining days of the year to reassess global uncertainty amid Omicron concerns.
Investors traded a total of 1.278 billion shares worth N17.340 billion in 21,052 deals last week, in contrast to a total of 3.435 billion shares valued at N30.915 billion that exchanged hands in 21,109 transactions in the previous week.
During the week, the Financial Services Industry led the activity chart with 984.543 million shares valued at N10.247 billion traded in 11,029 deals. Therefore, contributing 77.01 percent and 59.09 percent to the total equity turnover volume and value respectively.
Consumer Goods Industry followed with 78.724 million shares worth N2.328 billion in 3,137 deals. In third place was The Conglomerates Industry, with a turnover of 48.730 million shares worth N69.840 million in 647 deals.
FBN Holdings Plc, Guaranty Trust Holding Company Plc and Access Bank Plc were the three most traded equities, accounting for 470.731 million shares worth N6.571 billion in 3,887 deals. The three contributed a combined 36.82 percent and 37.90 percent to the total equity turnover volume and value, respectively.
The market value of all listed equities declined by 2.63 percent or N595 billion from N22.598 trillion recorded in the previous week to N22.003 trillion last week. While the NGX All-Share Index depreciated by 2.63 percent 0r 1,140.38 index points to 42,167.91 index points, down from 43,308.29 index points.
Similarly, all other indices finished lower with the exception of NGX Insurance index which appreciated by 2.97 percent, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.
Eighteen equities appreciated in price during the week, lower than Twenty-nine equities in the previous week. Forty-nine equities depreciated in price, higher than Thirty-six equities in the previous week, while eighty-nine equities remained unchanged lower than ninety-one equities recorded in the previous week. See the top gainers and losers below.
Dangote Cement, MTN lead Top Paying Dividend Companies of the Year
In total, Nigerian companies paid about N989 billion as dividends in the first 9 months of the year. Dangote Cement was responsible for N272 billion of that amount, with MTN paying N212.7 billion.
The N989 billion paid in dividends showed a 27% increase from the same period in 2020. A record of dividends paid by Nigerian companies who have been publicly quoted is maintained by Nairalytics, with the companies including 30 of some of the most capitalized companies on the stock exchange who had paid dividends in 2020 and the current year.
Some companies pay dividends from their full-year profits while others pay twice in the year, first out of their full-year profits and secondly from their half-year profits. Some dividends are also paid out of retained earnings, in the event where companies do not publicly declare their profits.
The data collected for the companies showed that Dangote Cement and MTN were the leading dividend payers in the year, with the companies paying N272 billion and N212.7 billion respectively. Dangote Cement shareholders did not record any significant increase in their dividend payments, while MTN shareholders saw a 23% increase in dividend payments. No other companies paid up to N100 billion in dividends during the year.
Zenith Bank paid N94.2 billion in dividends, coming in as the third highest paying company during the year. GTCO and BUA Cement rounded up the top five, paying N79.5 billion and N70 billion in dividends respectively.
Stanbic IBTC paid N54 billion in dividends to come in as sixth, while Access Bank and Nestle paid N30.2 billion and N27.5 billion respectively, making seventh and eighth. Lafarge and Seplat rounded up the top 10 dividend payers, paying N24.7 billion and N23.1 billion respectively.
In total, the top ten companies paid a combined N888.1 billion in dividends.
A growth in dividend payment, especially in a year heavily hit by the coronavirus pandemic shows resilience in the financials of some of Nigeria’s largest companies.
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