Intensifying to a new height last week, the downtrend in the equity market showed no sign of subsiding soon with the Nigerian bourse recording losses all week long save for on Thursday.
Yet, the only gain recorded could hardly count as a relief to investors because it was a marginal recovery.
We have selected a group of stocks you should watch out for this week on the basis of how the market fared last week.
Ripples Nigeria Stock Watch-list is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.
Kindly note that Ripples Nigeria stock watch-list is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
BETA GLASS PLC
The board during the week announced a proposal of N1.67 per share final dividend subject to shareholders’ endorsement.
The register of shareholders will be closed from 15th to 19th June 2020, preparatory to dividend payment on 3rd July 2020.
CADBURY NIGERIA PLC
Cadbury Nigeria makes our list on the account of the board’s declaration of a N0.49 per share dividend last week for FY2019.
The beverage maker had at the end of March reported a 30% leap in earnings for the financial year 2019, which brought its full year profit to N1.071 billion.
FCMB GROUP PLC
FCMB appears on our list on the account of its proposed dividend of N0.14 per share for FY2019 following the release of its financial report for FY2019, where the lender grew its profit after tax by N2.366 billion.
Between 15th and 17th April 2020, the register of voters will be closed in readiness for the payment of dividends on 28th April.
NEM INSURANCE PLC
NEM Insurance makes our list on the basis of its proposed dividend per share of N0.15 for FY2019.
Last week, its 2019 financial report made public in which a 17.6% rise in after-tax profit was reported.
The qualification date for dividend is 30th April 2020 while the payment date is to be announced later.
GLAXO SMITHKLINE CONSUMER NIG. PLC
GSK makes our list for being the highest price gainer last week. It opened at N3.85 and closed at 4.80, adding 24.68%. Its Earnings Per Share (EPS) stands at N0.51 while its Price to Earnings (PE) ratio is 9.40%.
NIGERIAN BREWERIES PLC
Nigerian Breweries makes our list on the account of being the highest price loser last week. Opening at N25.50, the stock closed at N22, depreciating by 13.73%. Currently, its EPS is N2.01 while its PE ratio is 10.95%.
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