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Nigerian Exchange Limited

Dangote Cement to Pay Chairman N5 Million, Non-executive Directors N4 Million Each in Remuneration for 2020 Financial Year

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Dangote Cement - Investors King

In the just-concluded Dangote Cement Annual General Meeting (AGM) held on 26 May 2021, at Eko Hotel and Suites, Victoria Island, Lagos,  shareholders agreed to pay the chairman of the company N5 million and non-executive directors N4 million each in remuneration for the 2020 financial year.

Other actions taken at the AGM meeting were as follow:

1. The Audited Financial Statements for the year ended December 31 2020 and the Reports of the Directors, Auditors and the Audit Committee were laid before the members.

2. A dividend payment of N16.00 for every ordinary share, to all shareholders whose names were registered in the Company’s Register of Members at the close of business on April 27 2021 was declared.

3. The re-elections of Mr. Emmanuel Ikazoboh, Mrs. Dorothy Ufot SAN, Mr. Devakumar V. G. Edwin, Mr. Ernest Ebi MFR and Mr. Olakunle Alake, being directors who retired by rotation, were approved, while the appointment of Ms. Berlina Moroole as a director was approved.

4. The Board of Directors was authorised to fix the remuneration of the Auditors.

5. The elections of Mr. Robert Ade-Odiachi, Mr. Sheriff Yussuf Mojirola and Mr. Nicholas Nyamali, as members of the Statutory Audit Committee were approved, to serve along with Mr. Ernest Ebi MFR and Mr. Olakunle Alake, until the conclusion of the next AGM.

6. The remuneration of the managers of the Company was disclosed.

7. The remuneration of the Chairman of Five Million Naira (N5,000,000) and of the Non-Executive Directors of Four Million Naira (N4,000,000) each, for the year ending December 31 2021 was approved by a special resolution.

8. The renewal of the Share Buyback Programme established pursuant to the resolution of the Company dated January 22, 2020 was approved by a special resolution.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Nigerian Exchange Limited

Stock Investors Pockets N195 Billion Last Week

Nigeria’s stock investors gained N195 billion last week despite the drop in activity level at the Nigerian Exchange Limited (NGX).

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Stock - Investors King

Nigeria’s stock investors gained N195 billion last week despite the drop in activity level at the Nigerian Exchange Limited (NGX).

Investors traded 705.636 million shares worth N12.850 billion in 22,124 deals during the week under review, in contrast to a total of 1.546 billion shares valued at N16.289 billion that exchanged hands in 23,873 deals in the previous week.

Breaking down key sectors, the Financial Services Industry led the activity chart with 442.525 million shares valued at N4.345 billion traded in 9,995 deals. Therefore, contributing 62.71% and 33.81% to the total equity turnover volume and value, respectively.

The Consumer Goods Industry followed with 82.126 million shares worth N2.176 billion in 3,875 deals. In third place was the Conglomerates Industry, with a turnover of 51.083 million shares worth N242.084 million in 694 deals.

Guaranty Trust Holding Company Plc, Zenith Bank Plc and FBN Holdings Plc were the three most traded equities last week. The three accounted for a combined 173.852 million shares worth N3.073 billion that were traded in 4,324 deals during the week. The three contributed 24.64% and 23.91% to the total equity turnover volume and value, respectively.

The NGX All-Share Index appreciated by 0.70%, or 352.08 index points from 50,370.25 index points it closed in the previous week to 50,722.33 index points last week.

The market capitalisation gained N195 billion to N27.358 trillion last week, up from N27.358 trillion it settled in the previous week.

Similarly, all other indices finished higher with the exception of The NGX-Main Board, NGX NGX Insurance, NGX Industrial Goods and NGX Sovereign Bond Indices which depreciated by 1.16%, 0.37%, 5.76% and 0.07% while, The NGX ASeM index closed flat.

Forty- one equities appreciated in price during the week, higher than eleven in the previous week. Twenty-two equities depreciated in price lower than fifty-three in the previous week, while ninety three equities remained unchanged higher than ninety-two equities recorded in the previous week.

The year-to-date gain tick slightly higher to 18.74%. See other details below.

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Nigerian Exchange Limited

GTCo, Zenith Bank, Access Bank Were The Most Traded Equities on Monday

Stocks of Guaranty Trust Holding Company Plc (GTCo Plc), Zenith Bank, Access Bank and other leading financial institutions were the most traded on Monday at the Nigerian Exchange Limited (NGX).

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Nigerian Exchange Limited - Investors King

Stocks of Guaranty Trust Holding Company Plc (GTCo Plc), Zenith Bank, Access Bank and other leading financial institutions were the most traded on Monday at the Nigerian Exchange Limited (NGX).

Investors transacted 176,053,708 shares worth N2.271 trillion in 4,965 deals during the trading hours of Monday. GTCO was the most traded stock with 21,371,040 shares estimated at N426,794,706.30. This was followed by Zenith Bank’s 20,445,680 shares valued at N429,282,785.05.

Analysing each sector, the banking sector gained 19 basis points (bps) on the back of 9.30% gain in Unity Bank, 1.45% appreciationg of Zenith Bank and 0.30% improvement in Wema Bank. Sterling Bank and Fidelity Bank shed 3.23% and 1.89%, respectively.

The consumer goods sector lost 13bps as stock of Intbrew and Maybaker declined by 6.54% and 6.42%, respectively. However, stocks of Champion, Unilever and Honey Flour closed in the green.

Industrial sector shed 418bps on 9.96% decline in the value of Bua Cement while the oil and gas sector closed flat.

NGX All-Share index extended its decline by 0.83% to 49,950.32 index points, down from 50,370.25 index points it closed on Friday. The market value of all listed equities also declined to N26.936 trillion, respresenting a decline of N226 billion from N27.163 trillion it settled on Friday.

The Exchange year to date return moderated from 17.92% on Friday to 16.93%. See other details below.

Top Gainers 

Symbols Last Close Current Change %Change
CAVERTON N 1.00 N 1.10 0.10 10.00 %
COURTVILLE N 0.40 N 0.44 0.04 10.00 %
CHAMPION N 3.65 N 4.00 0.35 9.59 %
UNITYBNK N 0.43 N 0.47 0.04 9.30 %
LIVESTOCK N 1.15 N 1.25 0.10 8.70 %

Top Losers

Symbols Last Close Current Change %Change
BUACEMENT N 69.30 N 62.40 -6.90 -9.96 %
MCNICHOLS N 0.91 N 0.82 -0.09 -9.89 %
NEIMETH N 1.55 N 1.40 -0.15 -9.68 %
INTBREW N 5.35 N 5.00 -0.35 -6.54 %
MAYBAKER N 3.58 N 3.35 -0.23 -6.42 %

Top Trades

Symbols Volume Value
GTCO 21371040.00 426794706.30
ZENITHBANK 20445680.00 429282785.05
ACCESSCORP 16784565.00 149668133.60
FBNH 14313464.00 153132806.80
UBA 14263232.00 100531057.85

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Nigerian Exchange Limited

We Remain Committed To Enhancing Investor Protection – IPF

The Board of Trustees (BoT) of the Investors’ Protection Fund (IPF) have assured investors that it remains committed to enhancing investors’ protection in the Nigerian capital market (NCM).

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Nigerian Exchange Limited - Investors King

The Board of Trustees (BoT) of the Investors’ Protection Fund (IPF) have assured investors that it remains committed to enhancing investors’ protection in the Nigerian capital market (NCM).

In a statement sent to the investing community, the IPF noted that it has approved an increase in the maximum compensation sum to investors who have suffered pecuniary losses from N400,000 to N500,000.

The statement said, “IPF at its meeting of 18 November 2021 approved an increase in the maximum compensation sum to investors who have suffered pecuniary losses from Four Hundred Thousand Naira (?400,000.00) to Five hundred Thousand Naira (?500,000.00) only.

The BoT reached this decision after due consultation, assessment of the limited resources of the IPF and the volume of claims pending against the IPF as well as the prevailing circumstances in the capital market in determining the increase in the maximum amount of compensation payable”.

According to the IPF, this is in accordance with Rule 26.16 (a) & (c): Amount of Compensation, Rulebook of The Exchange, 2015 (Investors’ Protection Fund Rules) as amended which provides thus: “The maximum compensation payable to an investor who has suffered a loss shall be an amount that is determined by the Board from a written policy from time to time; and where the loss is less than the maximum amount fixed by the Board at any given time, the investor may be paid the full amount of the loss, less any amount or value of all monies or other benefits received or receivable by him from a source other than the Fund in reduction of the loss.

Notwithstanding the above, the amount of compensation may be reviewed by the Board on a biennial basis or as otherwise agreed by the Board as the need arises from time to time. In determining the maximum amount of compensation payable, the Board shall take into account circumstances prevailing in the capital market”.

It thereafter noted that the increase which took effect from 18 November 2021 does not apply to claims made to the IPF before the approval of the increase while adding that it remains committed to enhancing investor protection.

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