On this blog, we make efforts to publish list of dividend declared including date of payment and closure of registrar. The reason why stocks have closure date is so that they can collate a list of shareholders who are qualified for dividends during the year. But as a value investor you need to look at the returns (yield) a company’s dividend will be producing. If the yield is good and the register is yet to be closed, then it might not be a bad idea buying the shares.
About 12 companies have declared dividends so far this year with 7 yet to close their registrar. But out of the 7 stocks only one stock has the potential to pay dividend yields that is above 6%. Africa Prudential is proposing dividend payments of 35kobo and the share price is currently averaging N4. This gives a yield of 8.7%!! If you own N1million of Africa Prudential Registrar you get a dividend of N87,000. Isn’t that fun??
Africa Prudential close their register between 17th to 21st of March 2014 and will pay dividends on April 4th. It’s not unlikely the share price will rise above N4 as the payment day approaches.
Disclosure: We own shares in Africa Prudential Plc