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MTNN, Africa Prudential, Dangote Cement top Ripples Nigeria stock watchlist
Last week, the Nigeria Stock Exchange (NSE) shed about N610 billion in value owing to heavy sell pressure on the part of investors.
A number of companies are beginning to declare dividends as company results come in.
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.
MTNN PLC
MTNN tops our list this week for declaring a final dividend for FY2019 last week on the strength of its impressive Full Year 2019 results.
It announced a proposal of N4.97 final dividend per share subject to shareholders’ approval.
It is noteworthy that MTNN had earlier in 2019 paid an interim dividend of N2.95 per share thus the new dividend declaration will bring the total dividend payout for the year to N7.92 per share provided the new dividend proposal receives shareholders’ nod.
The register of shareholders will be closed on 20th April 2020, preparatory to dividend payment on 19th May 2020.
The qualification date has been fixed for 17th April 2020, meaning only shareholders whose names appear on the company’s register of members by this date will be eligible for dividend payment.
Potential investors willing to leverage the dividend payout should consider investing in the company’s stocks on or before this date.
AFRICA PRUDENTIAL REGISTRARS LIMITED
Africa Prudential makes our list on the basis of its declaration of dividend for FY2019 last week.
It declared a dividend of N0.70 dividend per share subject to shareholders’ approval at the next Annual General Meeting (AGM).
The register of Africa Prudential shareholders will be closed from 9th to 13th March 2020, preparatory to dividend payment on 23rdMarch 2020.
The qualification date has been fixed for 6th March 2020.
Potential investors wanting to leverage Africa Prudential dividend payout may consider investing in the company’s shares on or before this date.
Read also: Zenith Bank, United Capital top Ripples Nigeria stock watchlist
DANGOTE CEMENT PLC
Dangote Cement makes our list on the account of announcing a final dividend for FY2019 last week.
The cement maker declared a dividend of N16 per share subject to shareholders’ approval at the forthcoming AGM.
If approved, the dividend would be paid to shareholders whose names appear in the members’ register on May 25.
The register will be closed on May 26. The qualification date is scheduled for May 25.
Potential investors willing to position themselves for the dividend payment may consider investing in Dangote Cement’s shares on or before this date.
CUSTODIAN INVESTMENT PLC
Custodian Investment makes our list on account of declaring a final dividend for FY2019 last week.
It announced a proposed dividend of N0.35 per share subject to shareholders’ approval.
The dividend is payable to shareholders whose names appear on Custodian Investment’s register of members as of the close of business on 2nd April 2020.
The register will be closed from 3rd to 9th April 2020, preparatory to dividend payment on 15th April 2020.
Potential investors seeking to benefit from the dividend payout may consider buying Custodian Investment’s stocks on or before the qualification date, 2nd April 2020.
TRANSCORP HOTELS PLC
Transcorp makes our list on the basis of declaring a dividend for FY2019 last week.
The firm announced a final dividend of N0.07 per share subject to shareholders’ approval.
The dividend will be paid to shareholders whose names appear in the company’s register as of Close of Business on 12th March 2020.
The register will be closed from 13th to 17th March 2020, preparatory to dividend payment on 26th March 2020.
LAW UNION & ROCK INSURANCE PLC
Law Union & Rock makes our list for being the highest price gainer last week. It opened at N0.73 and closed at N0.90, gaining 23.29%.
RED STAR EXPRESS PLC
Red Stae Express makes our list by reason of being the highest price loser last week. Opening at N4.45, it closed at N3.25, shedding 26.97%.
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