|
Getting your Trinity Audio player ready...
|
In spite of the release of impressive corporate actions by listed companies, which have so far led to the declaration of N442.2 billion dividends by 22 listed companies, the equity market closed lower last week as the market capitalisation of listed stocks shed N20.3 billion when transactions ended last week Friday.
The market capitalisation of listed stocks closed last week at N14.98 trillion as against N15.001 trillion recorded the previous week. Year to date, the market capitalisation was up by 10.08 percent, however, the momentum was much lower when compared with 14.2 percent as at the end of February and 16 percent by end of January 2018.
The All Share Index (ASI) shed 463.83 points week on week as it closed at 41,472.10 points as against 41,935.93 points the previous week. Year to date, the ASI was up by 8.44 percent, which is lower than its performance in at the end of January and February 2018.
Year to date, the NSE Corporate Governance Index closed at -1.76 percent just as the NSE AseM Index and NSE Consumer Goods Index also closed in the negative territory at -7.40 percent and -1.49 percent respectively.
Meanwhile, Dangote Cement, Nigeria’s biggest listed firm by market capitalisation will reward shareholders with N10.5 dividend per share which amounted to N178.93 billion.
“A final dividend of N10.50 per 50 kobo ordinary shares, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members at the close of business on Friday, the 13th of April, 2018”, the company said in a note to the Exchange.
Gross revenue rose to N805.58 billion in 2017 from n615.10 billion in 2016. Profit before tax was up to N289.59 billion from N180.93 billion. Profit after tax rose to N142.25 billion from N142.86 billion.
TELIAT SULE
