Economy
Stocks Dividend Hunters Should Watch Out For This Week
By Dipo Olowookere
It a new week and many investors will be looking forward to a fruitful one at the stock market and will not expect happenings around to badly affect the market activities.
While this is being hoped for, it is important to let market participants, especially dividend hunters, know that they can check stocks of some companies that proposed to pay interim dividends for the half-year.
Most of the banks, which released their H1 2020 earnings about two weeks ago, will have the qualification dates for the cash reward this week.
Business Post is reminding investors of the qualification dates of these companies for market participants to take a position.
On Tuesday, September 15, 2020, those interested in taking the 40 kobo interim dividend proposed by the board of Stanbic IBTC Holdings Plc will be required to have the stocks at the close of the day’s business.
According to a notice from the lender, the register of members will be closed from Wednesday, September 16 to 23, 2020, and the payment will be made on Wednesday, September 30, 2020.
Also, Tuesday, September 15 is the qualification date for the 30 kobo interim dividend of GTBank Plc for the half-year ended June 30, 2020, while the register of members is to be closed the next day and the payment expected on Monday, September 21, 2020.
Another company having its qualification date for its interim dividend on Tuesday is UBA, which is planning to pay 17 kobo per share for the half-year. The closure of register is Wednesday, September 16, while the payment date is Wednesday, September 23, 2020.
Also, investors intending to get the 30 kobo per share interim dividend of Zenith Bank Plc will be expected to have the bank’s stocks in their portfolio at the close of business of Wednesday, September 16, 2020. The register of members, according to the company, will be closed on Thursday, September 17, while the payment will be made on Tuesday, September 22, 2020.
Thursday, September 17, 2020, is the qualification date for the 25 kobo interim dividend proposed by the board of Access Bank Plc, while Friday, September 18 is the closure of register date and payment to the bank accounts of qualifying shareholders expected on Monday, September 28, 2020.
For Red Star Express, it is not paying an interim dividend but a final dividend for the year ended March 31, 2020, and the amount is 35 kobo per share.
The qualification date for this is Friday, September 18, 2020, while the closure of register is from Monday, September 21 to 25.
The dividend proposed by the board of this company will have to be approved by shareholders at the Annual General Meeting (AGM) fixed for Thursday, October 8, 2020, at the Radisson Blu Hotel, Ikeja, Lagos, while the payment date is Thursday, October 15, 2020.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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