For about one month, the market has not found a stable footing like the first twenty days of the year when activities were predominantly, if not absolutely, bullish.
That momentum of buoyancy was disrupted before January ended and, as February emerged, the stock market took a bashing from the Central Bank upping the Cash Reserve Ratio (CRR) from 22% to 27.5%.
What was now a curse for the market became a fortune elsewhere. Investors who had diverted their investment into the stock market early in January owing to the low yields in the treasury bills early in the year were returning to their first love on the account of the now favourable CBN’s policy shift.
Despite the downturn in the equity market at the moment, investors need not fear given that they are in a position to leverage this time when the prices of stocks have fallen considerably to invest at cheap costs.
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 Watchlist 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.
ZENITH BANK PLC
Zenith Bank tops our list this week on the basis of its proposal of a final dividend last week as well as its fairly impressive Full Year 2019 results.
The board during the week announced a proposal of N2.50 per share final dividend subject to shareholders’ approval at the next Annual General Meeting (AGM), timed to hold 9th March 2020.
It is noteworthy that Zenith had earlier in 2019 paid an interim dividend of N0.30 per share and the new dividend declaration will bring the total dividend payout for the year to N2.80 per share provided the new dividend proposal receives shareholders’ nod.
The register of shareholders will be closed on 10th March 2020, preparatory to dividend payment on 23rd March 2020.
UNITED CAPITAL PLC
United Capital makes the list by virtue of its declaration of dividend in the week that just went by and its encouraging FY2019 financial results.
United Capital is making a dividend proposal of N0.50 per share subject to shareholders’ approval at the next AGM scheduled to hold on 6th March 2020. The shareholders’ register will be closed from 9th March to 13th March 2020.
The qualification date is 6th March 2020. Investors looking to leverage the dividend payment should make a swift effort to take an investment position in the company before this date arrives.
LAW UNION & ROCK INSURANCE PLC
Law Union & Rock makes our list for being the highest price loser last week. It opened at N1.15 and closed at N1.15, shedding 36.52%. Investors make look the way of this stock for investment considering its relatively cheap price.
C & I LEASING PLC
C & I Leasing makes our list on the basis of being the highest price gainer last week. The stock opened at N5.40 and closed at N6.85, notching up 26.85%. Investors may seek to either invest in this stock or sell considering that it is still very much under-priced, being one of the cheapest stocks on the Exchange at the moment.
Its Earnings Per Share (EPS) is N3.78 while its Price to Earnings Ratio is an incredible 1.81.
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