Here is a recap of stocks that had corporate actions last week and those expected to do so this week.

Corporate actions include payment of dividends, closure of shareholders register and qualification dates for dividends or bonuses. It also includes the list of companies that will be holding their AGM’s during the week.

Corporate actions held last week

Conoil Plc

Conoil Plc was marked down by N2 last week following a dividend payment. Ex-dividend price was N30.

Cement Company of Northern Nigeria (CCNN) Plc

CCNN Plc, also known as Sokoto Cement, was marked down by N1.25 last week, following a dividend payment. Ex-dividend price was N26.25.  

Beta Glass Plc

Beta Glass Plc was marked down by N1.07 following a dividend payment. Ex-dividend price was N86.28.

Corporate Actions this week

Capital Hotels Plc

Capital Hotels Plc was incorporated on January 16, 1981, as a private limited liability company. It became a public liability company (Plc) on May 31, 1986. Its Hotel, Sheraton Abuja Hotel commenced business in January, 1990.

The Company is a subsidiary of Ikeja Hotels Plc.

Capital Hotels Plc will be holding its Annual General Meeting (AGM) on June 27, 2018. AGMs are usually an opportunity for companies to inform shareholders of their outlooks for the current year.

NPF Microfinance Bank Plc

NPF Microfinance Bank will be holding its Annual General Meeting (AGM) on June 28, 2018. The dividend, if approved, will be paid on the same day. The company has recommended a dividend of N0.17 per share. Investors tend to sell down a stock after receiving their dividends.

Mutual Benefits Plc  

Mutual Benefits Assurance Plc will be holding its Annual General Meeting on June 27, 2018. Dividend payment will commence on June 28, 2018. The proposed dividend of N0.02 is the company’s first in nearly a decade.

MRS Oil Plc

The company will be giving a 1 for 5 bonus to shareholders in its register as at June 28, 2018. There could be a slight rally in its share price as investors take positions to benefit from the bonus issue.

BOC Gases Nigeria Plc

BOC Gases will hold its Annual General Meeting on June 28, 2018. The dividend, if approved, will be paid on the same date. The stock is largely illiquid, so it will not have a major selloff.

Dangote Flour Mills Plc

Dangote Flour Mills held its Annual General Meeting on June 22, 2018. Dividend payment of N0.20 per share will take place on June 27, 2018.

Newrest ASL Nigeria Plc

Newrest ASL’s principal services are the provision of catering services to international airlines operating in the country. The company also operates VIP lounges at the Murtala Muhammed International Airport (MMIA) Lagos, and the Nnamdi Azikiwe International Airport, Abuja.

Newrest ASL will be holding its Annual General Meeting on June 26, 2018. Dividend payment will take place the next day. The company has proposed a dividend of N0.17 per share. 

Newrest ASL is largely illiquid in terms of trading. So, there may be little movement in terms of price.

Okomu Oil Palm Company Plc

Okomu Oil will be paying a dividend of N3.00 per share for the 2017 financial year on June 25, 2018. The stock could witness a slight selloff once investors receive their dividends.

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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