For value investors, payback is usually when they see their faith in a stock rewarded after a long wait that includes periods of in activity and bearishness. Just last week Vitafoam and C&I Leasing its 52 weeks high on the back of two respective impressive results.
Vitafoam closed the week at a price of N6.40 after opening the week at 4.83. That was a 31% gain in just one week. Why was this? Vitafoam declared dividends of 30kobo per share and a 1 for 5 bonus issue. In addition, they also reported a better than expected earnings per share.
C&I Leasing last week also released impressive results and backed that up with a dividend per share of 8kobo representing a 50% rise from what it declared a year ago. The share price will then rise from 52 kobo to 55 kobo representing a 27% increase within a week.