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Nigerian Stock Investors Gained N552 Billion Last Week

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Nigerian Stock Investors Gained N552 Billion Last Week

Investors in the Nigerian Stock Exchange (NSE) gained N552 billion last week despite a negative first week of the year.

Investors exchanged 3.447 billion shares worth N32.725 billion in 30,327 deals during the week, against a total of 3.394 billion shares valued at N19.867 billion that exchanged hands in 26,808 transactions in the previous week.

In terms of volume traded, the Financial Services Industry led the activity chart with 1.714 billion shares valued at N13.352 billion exchanged in 15,102 deals and contributed 49.74 percent and 40.80 percent to the total equity turnover volume and value, respectively.

The Construction/Real Estate Industry followed with 768.131 million shares worth N4.203 billion in 430 deals. Conglomerates Industry came third with a turnover of 279.799 million shares estimated at N578.694 million in 1,199 deals.

The three most traded equities during the week were UPDC Real Estate Investment Trust, Mutual Benefits Assurance Plc and Transnational Corporation of Nigeria Plc. Together, the three accounted for 1.224 billion shares worth N4.459 billion in 929 deals and accounted for 35.52 percent and 13.63 percent to the total equity turnover volume and value, respectively.

The NSE All-Share Index gained 2.63 percent or 1,055.92 index points from 40,120.22 index points posted in the previous week to 41,176.14 index points.

While the market value of listed stocks expanded by the same 2.63 percent or N552 billion from N20.978 trillion recorded a week earlier to N21.530 trillion last week.

The Nigerian Stock Exchange has gained 2.25 percent in 2021 so far.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Nigerian Stock Exchange

Dividends Declared for 2020 Financial Year Last Week

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Below are listed companies that have announced their dividends for the year ended 31, December 2020 last week.

Listed companies have started announcing dividends for the 2020 financial year as listed below. Investors King has compiled companies that declared for last week, a complete list will be released later for all dividends for 2020.

MTN NIGERIA COMMUNICATIONS PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦5.90
Proposed Bonus: null FOR null
Qualification Date: 5/4/2021
AGM Date: 5/25/2021
Payment Date: 5/26/2021
Closure of Register Date: 5/5/2021

CUSTODIAN INVESTMENT PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦0.45
Proposed Bonus: null FOR null
Qualification Date: 4/9/2021
AGM Date: 4/22/2021
Payment Date: 4/22/2021
Closure of Register Date: 4/12/2021

NESTLE NIGERIA PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦35.50
Proposed Bonus: null FOR null
Qualification Date: 5/21/2021
AGM Date: 6/22/2021
Payment Date: 6/23/2021
Closure of Register Date: 5/24/2021

NASCON ALLIED INDUSTRIES PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦0.40
Proposed Bonus: null FOR null
Qualification Date: 4/22/2021
AGM Date: 5/4/2021
Payment Date: 5/5/2021
Closure of Register Date: 4/23/2021

SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: $0.05
Proposed Bonus: null FOR null
Qualification Date: 5/4/2021
AGM Date: 5/20/2021
Payment Date: 5/27/2021
Closure of Register Date: 5/5/2021

DANGOTE SUGAR REFINERY PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦1.50
Proposed Bonus: null FOR null
Qualification Date: 3/17/2021
AGM Date: 6/16/2021
Payment Date: 6/18/2021
Closure of Register Date: 3/18/2021

AFRICA PRUDENTIAL PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦0.50
Proposed Bonus: null FOR null
Qualification Date: 3/15/2021
AGM Date: 3/25/2021
Payment Date: 3/26/2021
Closure of Register Date: 3/16/2021

ARDOVA PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦0.19
Proposed Bonus: null FOR null
Qualification Date: 3/25/2021
AGM Date: 4/12/2021
Payment Date: 4/13/2021
Closure of Register Date: 3/26/2021

ZENITH BANK PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦2.70
Proposed Bonus: null FOR null
Qualification Date: 3/8/2021
AGM Date: 3/16/2021
Payment Date: 3/16/2021
Closure of Register Date: 3/9/2021

NIGERIAN BREWERIES PLC DIVIDEND

Closure of Register Year Ended 31 December 2020
Proposed Dividend: ₦0.69
Proposed Bonus: Nil
Qualification Date: 3/10/2021
AGM Date: 4/22/2021
Payment Date: 4/23/2021
Closure of Register Date: 3/11/2021

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Nigerian Stock Exchange

Nigerian Stock Exchange Extends Losing Streak, Sheds N245 Billion Last Week

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Stocks in Africa’s largest economy Nigeria extended their losing streaks last week as investors continue to dump their holdings amid growing economic uncertainties and unclear policy direction.

Investors traded 2.092 billion shares worth N29.744 billion in 24,238 deals during the week, against a total of 1.930 billion shares valued at N20.656 billion that were traded in the previous week in 24,687 transactions.

Last week, the financial services industry led the activity chart in terms of volume traded with 1.633 billion shares valued at N10.727 billion traded in 13,269 deals. Therefore, the industry contributed 78.06 percent and 36.06 percent to the total equity turnover volume and value traded, respectively.

The consumer goods industry followed with 92.009 million shares worth N4.521 billion in 4,168 deals. While in third place was the oil and gas industry with a turnover of 91.340 million shares worth N10.527 billion in 1,471 transactions.

The top three most traded equities during the week were Wema Bank Plc, Axamansard Insurance Plc and Zenith Bank Plc, together the three accounted for 903.561 million shares valued at N5.564 billion and traded in 4,017 transactions. The three contributed 43.19 percent and 18.71 percent to the total equity turnover volume and value, respectively.

The market value of listed equities declined by N245 billion from N20.823 trillion in the previous week to N20.578 trillion last week. While the Nigerian Stock Exchange All-Share Index declined by 468.28 index points or 1.18 percent from 39,799.89 index points recorded in the previous week to 39,331.61 index points last week.

Year-to-date returns stood at -2.33 percent last week. See top gainers and losers below.

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SEC Tasks Quoted Companies on Regulatory Compliance Lists Benefits

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SEC Tasks Quoted Companies on Regulatory Compliance Lists Benefits

The Securities and Exchange Commission (SEC) has urged quoted companies to take regulatory compliance seriously, saying that keeping track of compliance requirements is essential for the promotion of sustainable development of businesses.

Lamido Yuguda, Director-General, SEC, made the call while delivering a goodwill message at the third symposium of the Issuers and Investors Alternative Dispute Resolution Initiative (IIADRI) with the theme: “The Burden of Regulatory Compliance on Companies in Nigeria” in Lagos.

He explained that the overriding rationale for the sundry obligations of public companies is needed for an efficient market driven by transparency, accountability, full disclosure and good governance amongst others.

“While these regulatory requirements may appear burdensome to companies, they exist for the protection of investors who rely on accurate and timely information to make an informed judgment and for the proper governance of the companies.

“Failure to comply with these requirements exposes companies to the risk of being sanctioned by the relevant regulatory authorities. Sanctions for non-compliance could be in form of fines and penalties which could, in turn, lead to drains on the bottom-line, value erosion and loss of investors’ confidence in the business with attendant effects on the capital markets.

“Non-compliance also causes reputational risk in terms of bad publicity to the defaulting company and may ultimately result in revocation and withdrawal of license and permits issued by relevant authorities,” he said.

He, however, said that the Commission is engaging with quoted companies and has put measures in place to ease some of the observed burdens on companies.

Also speaking, Mrs. Cecilia Madueke, the Company Secretary for Julius Berger Nigeria Plc, charged companies to see regulation and compliance as a significant risk to their businesses, saying that compliance should always be on the front burner for the governance body of each company.

“In what is clearly a challenging time for businesses, keeping pace with new and changing federal and state regulation is one of many factors that will be critical to success in 2021,” she said.

She lamented the regulatory contradictions in Nigeria, saying that government agencies set up to enable and facilitate the “Ease of Doing Business” constitute themselves into clogs in the wheels of business competitiveness and sustainability, thereby eroding the government’s efforts and commitment leading to the weekly loss.

Analysis by sectors revealed that the industrial goods sector emerged as the lone gainer, appreciating by 1.4 percent.

In their projections for the current week, analysts at Cowry Asset Management said the equities market would trade further southwards as investors stay on the sidelines to target new support levels, “especially in Zenith Bank share price that will be marked down by N2.70k dividend payment.”

Making a similar projection, analysts at Cordros Capital said investors are expected to take advantage of the significant moderation in the share prices to make a re-entry in dividend-paying stocks in the week ahead.

“However, we believe that investors will remain reluctant to leave gains in the market. As such, we expect intermittent profit-taking to continue due to uncertainties about the direction of yields in the FI market. As a result, we think the market will be choppy,” they said.

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