Capital Market

UAC Seeks N15.4bn Fresh Capital from Rights Issue

By Nse Anthony-Uko (Sundiata Finance) — UAC of Nigeria Plc is shopping for N15.37 billion fresh capital from existing shareholders to boost its operations so as the record improved performance and deliver competitive returns to shareholders in the years ahead. Specifically, UACN is making a Rights Issue of 960,432,193 ordinary shares of 50 kobo each at N16 per share to ...

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Stocks Market Sheds 0.96%, Largest Decline in 7 Weeks,

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian stocks market recorded its largest decline in seven weeks on Tuesday, following profit taking activities by investors . In summary, the All Share Index (ASI) shed 358.87 absolute points, representing an decline of 0.96 per cent to close at 36,953.41 points. The market capitalisation shed N124 billion, to close at N12.879 trillion. ...

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No More Paper Dividend Warrants After December 31, SEC Warns

By Nse Anthony-Uko (Sundiata Finance) — The Securities and Exchange Commission (SEC) has said that the 31 December deadline to issuance of physical dividend warrants in the nation’s capital market remains unchanged. Speaking at the Capital Market Committee (CMC) press briefing on Monday in Lagos, the director-general of SEC, Mounir Gwarzo said that there is no going back on the ...

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Equities Market Gains N67bn On Dangote Cement Stocks

By Nse Anthony-Uko (Sundiata Finance) —  The Nigerian stocks market opened the week on a positive trend on Monday, following the gains recorded in Dangote Cement Plc. The All Share Index (ASI) gained 192 absolute points, representing a growth of 0.52 per cent to close at 37,312.28 points. The market capitalisation appreciated by N67 billion, representing to close at N12.914 trillion. ...

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Nestle Nigeria Posts Impressive Q3 Profits, Offers N15 Interim Dividend

By Nse Anthony-Uko (Sundiata Finance) – Nestle Nigeria has presented its unaudited result for the nine-month ended September 30, 2017, showing remarkably impressive performance, helped by the growth in sales revenue. The Company’s result released to the investing public, Monday showed that profit after tax grew by 4,641 per cent to N22.9 billion profit compared to N484.6 million reported same ...

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Dangote Cement Reports 45% Rise In Profit

Joseph Makoju Appointed Acting MD By Nse Anthony-Uko Dangote Cement has reported 45 per cent rise in profit after tax to N193 billion in its third quarter result for the period ended September 30, 2017 compared to N133. 5 billion recorded in the same period in the year 2016. Also in a notice sent to the Nigerian Stock Exchange (NSE) ...

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Profit Taking Continues As Stocks Lose N9bn

By Nse Anthony-Uko (Sundiata Finance) — Profit taking by investors on the Nigerian stocks market continued on Wednesday with a loss of N9 billion. Overall, the All Share Index (ASI) shed 28.09 absolute points, representing a decline of 0.08 per cent to close at 36,641.52 points. Similarly, the market capitalisation shed N9 billion, to close at N12.613 trillion. The downturn ...

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ASHON Shops For N500m To Commence Commodity Exchange

By Nse Anthony-Uko Promoters of the proposed Commodity and Futures Exchange under the aegis of the Association of Stockbroking Houses of Nigeria (ASHON) have endorsed the N500 million private placement capital raising option to flag off its operation. Besides, the elated members are demanding for more information to enhance their investment decision on the laudable project designed to key into ...

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Forte Oil Posts N5bn Profit In 9 Months

By Nse Anthony-Uko Forte Oil Plc, at the weekend, released its financial statements for the first nine months of this year, ended September 30, 2017 with a profit of N5.07 billion. In the financial results released to the Nigerian Stock Exchange (NSE), the company posted a rise of 81.07 per cent in its profit for the period to N5.07 billion ...

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PZ Cussons Splashes N1.98bn Dividend On Shareholders

By Nse Anthony-Uko (Sundiata Finance) — The management of PZ Cussons has earmarked N1.98 billion from the company’s profits in the financial year ended May 31, 2017, as dividend pay-out to its shareholders. Shareholders of PZ Cussons approved the dividend pay-out which translated to a dividend payment of 50 kobo per share, at its annual general meeting (AGM) held in Abuja. PZ Cussons ...

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