C&I Leasing Plc shareholders should be very happy at the moment as the stock topped the gainers chart today with a 10% pop. The stock has now gained over 26.9% in the last one week.
The stock has found momentum after it released its 2014 Fy results and 2015 Q1 results a few days ago. The company reported an increase in earnings per share of 69% to 19.15 kobo at the end of 2014. The company then followed that results with a 8 kobo per share dividend payment representing a whopping 50% rise from the 4 kobo it paid a year ago.
To cap it all, the company released its 2015 Q1 results showing earnings per share rose 72% year on year to 13.5 kobo. Pre-tax profits also rose 94% year on year to N275million.
At a week opening price of 52 kobo and a proposed dividend per share of 8 kobo, dividend yield comes to about 15% which by our estimates is perhaps the highest this year for any company and the fundamental reason for the rally. The share price has then surged to as high as 66 kobo per share.