Oando’s share price has failed to gain traction on the positive side after releasing a set of blistering results last week. The company published its 2013 audited accounts as well as 2014 interim results for the first and second quarter. The company also proposed dividends for 2013 and interim dividends for 2014 all totalling about N1 per share.
Despite all this the stock is yet to gain traction holding stubbornly at N25. It did peak to about N26 after the results were announced but has tapered slowly to N25. The company has its analyst conference on Tuesday where it took analyst questions on the current results and their future prospects.
Oando, the most controversial stock on NSE. But seriously, I still believe in Oando so much that 60% of my equity holding is there. In the short term, yes, it may be dragging, but I can assure you that once it sells its down stream arm and fully sails in the upstream, the gate of entry will be shut.
Its debt profile will be managed. For them to even pay dividend speaks a lot.
Hmmmm that’s a lot lot of confidence man. I like that. But isn’t 60% a lot to place on one stock?