Last week, the Nigerian Stock Exchange’s (NSE’s) Market Capitalisation crumbled by N279 billion, setting off a negative week-to-date return of 2.35%.
It is pretty probable that that depreciation rate will worsen this week as the entire financial market grapple with potential liquidity constraints stemming from the COVID-19 effect.
We have gleaned a list of stocks you should watch out for this week from companies that reported corporate actions last week.
Ripples Nigeria stock watch-list is a group of stocks monitored for viable trading or investing opportunities. An investor may routinely 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.
Ripples Nigeria stock watch-list is not a buy, sell or hold recommendation. Please consult financial advisor before making any investment decision.
JULIUS BERGER NIGERIA PLC
Julius Berger comes top of our list this week on the strength of its declaration of simultaneous rewards of N2.75 per share final dividend and a bonus issue of one new ordinary share for every five currently held by its shareholders.
The company is the only Nigerian company to have extended the twin benefits to its investors, which was largely achieved on the strength of its exceptional Full Year 2019 financial performance where it posted a 70% growth in earnings from N6.074 billion to N10.304 billion.
The qualification date for these perks is 29th May 2020 and the payment date is 19th June 2020.
SEPLAT PETROLEUM DEVELOPMENT COMPANY LIMITED
Seplat Petroleum makes the list on the basis of its announcement Friday of a proposed final dividend of $0.05, which brings its total dividend for FY2019 to $0.10 per share, having declared an interim dividend of $0.05 earlier in 2019.
CADBURY NIGERIA PLC
Cadbury makes our list on the basis of its proposal of a total dividend of over N440.827 million, translating to N0.24 per share for FY2019 and also on the strength of its position as the highest price gainer for the previous week.
It opened at N4.95 and closed at N6.25, notching up 26.26%.
The mulled dividend issue is subject to shareholders’ nod at the firm’s next Annual General Meeting
WAPIC INSURANCE PLC
Wapic Insurance appears on our list this week based on its emergence as the highest price loser on the exchange last week.
Opening at N0.27, it closed at N0.21, shedding 22.22% in the process.
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