Seplat, Fidelity, Sterling top Ripples Nigeria stock watchlist

The Market Capitalisation of the Nigerian equity market depreciated by N174.820 billion in the week that just went by even though Exchange bucked market trends to stage a bullish comeback Thursday through Friday.

We have selected a group of stocks you should watch out for this week on the basis of how the market fared last week and some fundamental factors.

Ripples Nigeria 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.

SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC

Seplat Petroleum makes the list on the basis of its announcement 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.

FIDELITY BANK PLC

Fidelity Bank makes the list by virtue of its declaration of N0.20 dividend per share final dividend last Monday. The action followed its reasonably impressive Full Year 2019 financial results, which saw profit expand by 24% from N22.926 billion to N28.425 billion.

Read also: Julius Berger, Seplat, Cadbury top Ripples Nigeria stock watchlist

STERLING BANK PLC

Sterling Bank makes our list on the account of its proposed N0.03 per share dividend for FY2018. The board resolution resulted from its fairly remarkable FY2019 financial performance where the lender grew its earnings from N9.218 billion to N10.602 billion.

BOC GASES

BOC Gases makes our list on the basis of its declaration of N0.30 per share dividend last week after the release of its unimpressive financial results for FY2019. It reported a 39.6% fall in profit, plummeting from N558.569 million at FY2018 to N321.538 million in the same period last year.

WAPIC INSURANCE PLC

Wapic makes our list on the basis of being the highest price gainer last week Opening at N0.21, the stock closed at N0.26, adding up 23.81% in the process.

NIGERIAN BREWERIES PLC

Nigerian Breweries makes our list on the strength of emerging as the highest price loser for last week. It opened at N25.50 and closed at N30, recording a 15% depreciation.

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