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Markets

Resort Savings sinks to a new low

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Resort Savings and Loans Plc

Resort Savings and Loans has shed 38% since a technical suspension placed on the stock was lifted. The stock shed 8.82% in yesterday’s trading to close at ₦0.31.

Year to date, the stock is also down by the same margin.

Resort sale

The Nigerian Stock Exchange had in July 2017 placed the stock on full suspension alongside 16 others for not submitting their financial statements.

The latest numbers 

Results for the nine months ended September 30, 2018, shows interest income increased from ₦314 million in 2017 to ₦525 million in 2018. Net loss stood at ₦43 million in 2018, compared to ₦152 million in 2017.

Why the share slide is worrisome 

The bank in a notice sent to the Nigerian Stock Exchange (NSE) in March last year announced it had secured a financing agreement with private equity firm, Milost Global. This comprised $100 million in equity and $150 million in debt.

In addition, the firm had secured the commitment of a local investor.

The injection of funds by Milost had, however, been stalled following the technical suspension placed on the stock, for non-submission of its financial statements.

The suspension meant the firm was unable to find a market-based valuation of its shares.

A lower share price means the company would have to issue more shares to new investors. This, in turn, would lead to dilution of existing shareholders.

How low will it go? 

The stock could end up trading at the ₦0.20 mark in a few weeks, as there exists no compelling reason for shareholders to take a position.

About the company  

Resort Savings & Loans Plc was incorporated in Nigeria on June 17, 1992, as a private Limited Liability Company, with its corporate office at 5th Floor, St. Nicholas House, 6 Catholic Mission Street, Lagos, Nigeria.

The Bank was granted a licence on September 10, 1993, to carry on Mortgage banking. It converted to a public liability company on April 1, 2008, and was listed on the floor of the Nigerian Stock Exchange (NSE) by way of introduction on November 23, 2009.

bitcoin train

The principal activities of the firm include the provision of mortgage services, property acquisition management, and fund management.

Binance

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 [email protected]

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Currencies

Naira falls across forex markets as CBN suggests official rate has been adjusted

The Naira depreciated against the US Dollar at the Investors and Exporters window on Friday closing at N410.25/$1.

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Naira-Dollars, Exchange rate falls at black market as forex liquidity declines by 89.8%

The exchange rate between the naira and the US Dollar depreciated to close at N410.25/$1 at the Investors and Exporters (NAFEX) window, where forex is traded officially. This is as the CBN Governor has suggested that the official exchange rate has been devalued.

Similarly, at the parallel market where forex is traded unofficially, the naira depreciated closing at N482/$1 on Friday, February 26. This represents 0.42% drop when compared to the N480/$1 that it closed on the previous trading day.

However, forex turnover at the Investor and Exporters (I&E) window decreased by 79.3% from $212.43 million recorded on Wednesday to $43.97 million on Thursday 25th February 2021.

READ: Naira strengthens at NAFEX window despite 79.3% drop in dollar supply

Trading at the official NAFEX window

The Naira depreciated against the US Dollar at the Investors and Exporters window on Friday closing at N410.25/$1. This represents a 0.39% drop when compared to N408.67/$1 recorded on Thursday, February 25, 2021.

  • The opening indicative rate closed at N409.24 to a dollar on Friday. This represents an 8 kobo drop when compared to N409.16/$1 recorded on Thursday.
  • Also, an exchange rate of N415 to a dollar was the highest rate during intra-day trading before it closed at N410.25/$1. It also sold for as low as N392/$1 during intra-day trading.
  • Forex turnover at the Investor and Exporters (I&E) window dropped by 14.7% on Friday, February 26, 2021.
  • According to the data tracked by Nairametrics from FMDQ, forex turnover decreased from $43.97 million recorded on Thursday, February 25, 2021, to $37.49 million on Friday, February 26, 2021.

READ: World’s largest oil producer loses four million barrels per day

Cryptocurrency watch

The world’s largest cryptocurrency, Bitcoin, dropped 6.39% to close at $43,165.78 on Sunday, losing $2,944.20 from its previous close.

  • Bitcoin has lost 26% from the year’s high of $58,354.14 on February 21, when it went up amid increasing confidence that it will become a mainstream investment and payments vehicle.
  • A quick recap of bitcoin’s worst weekly performance since March 2020, shows that the week’s high volatility was not caused by one factor. It was largely triggered by an overheated derivatives market as traders rushed to exit leveraged bets that had accumulated.
  • Further drops had coincided with a sell-off in the broader stock market due to rising concerns over surging bond yields, which might reduce the attraction for riskier assets like cryptocurrencies.
  • Etherium dropped 8.88% to close at $1,329.46 on Sunday, losing $129.57 from its previous close.
  • Meanwhile, Nigeria’s Vice President, Yemi Osibanjo, while disagreeing with the CBN on its recent ban on cryptocurrencies, called for crypto regulation knowing fully well the role it plays in the global financial ecosystem. Osibanjo advised CBN and SEC to create a regulatory road map for cryptocurrencies.

READ: How Nigeria can make more money from Oil?

Oil price dip marginally on account of pullbacks

Brent crude oil price closed at $64.42 per barrel, dropping $1.69, the WTI Crude closed at $61.50 per barrel, dropping $2.03, OPEC Basket closed at $65.42, gaining $1.42 while the Bonny Light closed at $64.33 per barrel, dropping $1.20.

  • These forecasts have called for an increase in crude oil supply in response to prices climbing above the pre-pandemic level.
  • Analysts are also expecting that next week’s meeting of OPEC and its allies will result in more supply returning to the market.
  • U.S. crude oil production fell in December to an average 11.063 million barrels per day, when compared to the average of 12.8 million barrels per day that was achieved in December 2019, according to the Energy Information Administration’s latest monthly report.
  • U.S. crude oil production fell an average of 58,000 barrels per day, the EIA said on Friday.

The steady decline in external reserves

Nigeria’s external has declined by 0.15% to stand at $35.17 billion as of February 24th 2021 compared to $35.23 recorded as of 23rd February.

  • This indicates that Nigeria has lost a total of $1.13 billion in external reserve positive in the month of February.
  • According to data obtained from the Central Bank of Nigeria (CBN), external reserves declined from $36.3 billion as of 29th of January 2021 to $35.17 billion as of 24th of February.
  • It is however worth noting that the decline in Nigeria’s external reserve has persisted despite a sharp increase in global crude oil prices as it is currently over $64 per barrel from $55.04 recorded as at the end of January.

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Spotlight Stories

List of Dividends announced so far in 2021

This is a list of Dividends announced so far in 2020.

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Dividends announced on the Nigerian stock exchange

As audited accounts start to trickle in, companies will propose dividend payments to their shareholders as recommended by their respective boards of directors. It is also important to track these announcements to know who is eligible to collect the dividend, when it will be approved and when it will be paid. Dividend payment also affects share prices.

This page will be updated from time to time.

READ ALSO: Updated: Gender Balance, looking at the board composition of top banks on the NSE

Legend

Date Announced – The date the company announced dividends evidenced by a corporate action published on the website of the NSE.

Qualification date – Shareholders who own shares as of this date will receive dividends. If you buy shares and want to receive dividends make sure it is at least three days before this date. Shares get transferred to you on the basis of the T+3 rule (the date you bought plus 3 working days).

Payment date – This is when the dividend will be paid to you, either via post (dividend warrants) or direct credit to your bank accounts (e-dividend).

Calculate Dividends

Closure of Register – Only shareholders who own shares listed in their register before this date will be paid dividends.

You can also scroll sideways to view the rest of the columns if using a mobile phone.

READ MORE: How to read stock market tables

2020 Dividends from companies quoted on the Nigerian Stock Exchange

CompanyDPSDate AnnouncedBonusClosure of RegisterAGM DatePayment DateQualification date
MTN Nigeria PlcN5.9k1st March 2021Nil5th May 202125th May 202126th May 20214th May 2021
Seplat Petroleum Dev. Company Plc$0.051st March 20215th May 202120th May 202128th May 20214th May 2021
Nestle Nig PlcN35.5k1st March 2021Nil24th - 28th May 202122nd June 202123rd June 202121st May 2021
Custodian Investment PlcN0.45k1st March 2021Nil12th - 16th April 202122nd April 202122nd April 20219th April 2021
Zenith bank PlcN2.70k23rd February 2021Nil9th March 202116th March 202116th March 20218th March 2021
United Capital PLCN0.70k22nd February 2021Nil8th - 15th March 202123rd March 202126th March 20215th March 2021
Nigerian Breweries0.69k17th February 2021Nil11th - 17th March 202122nd April 202123rd April 202110th March 2021
PZ Cussons Nigeria PlcN0.1k7th January 2021Nil11th - 15th January 202129th January 20211st February 202119th October 2020
Neimeth International Pharmaceuticals PlcN0.065k30th December 2020Nil23rd February 20219th March 202112th March 202122nd February 2021
Vitafoam Nigeria PlcN0.7k31st December 2020Nil15th - 19th February 20214th March 20215th March 202112th February 2021
Conoil PlcN2.00k6th October 2020Nil23rd October 202013th July 2020
Seplat Petroleum Dev. Company PlcUSD$0.0530th October 2020Nil16th November 2020Nil7th December 202013th December 2020
Airtel AfricaUSD$0.01531st October 2020Nil13th November 2020Nil11th December 202013th November 2020
Nigerian Breweries PlcN0.25k29th October 2020Nil23rd - 27th November 2020Nil1st December 202020th November 2020
Nestle Nig PlcN2527th October 2020Nil23rd - 27th November 2020Nil7th December 202020th November 2020
Access Bank PlcN0.25k3rd September 2020Nil18th September 2020Nil28th September 202017th September 2020
11 Plc (Updated)N8.2528th May 2020Nil30th Sept - 5th Oct 202014th October 202015th October 202029th Sept 2020
Zenith bank PlcN0.30k3rd September 2020Nil17th September 2020Nil22nd September 202016th September 2020
Guaranty Trust Bank PlcN0.30k2nd September 2020Nil16th September 2020Nil21st September 202015th September 2020
Stanbic IBTC Holdings PlcN0.40k2nd September 2020Nil16th - 23rd September 2020Nil30th September 202015th September 2020
Learn Africa PlcN0.05k1st September 2020Nil5th - 9th October 202015th October 202016th October 20202nd October 2020
United Bank for AfricaN0.17k1st September 2020Nil16th September 2020Nil23rd September 202015th September 2020
Tripple Gee & Company PlcN0.055k12th August 2020Nil1st - 4th September 202016th September 202022nd September 202031st August 2020
Lasaco Assurance PlcN0.05k14th August 2020Nil1st September 202015th September 202022nd September 2020
Linkage Assurance PlcNil26th June 20201 for every 4 shares20th - 24th July 202013th August 2020NA17th July 2020
Smart Products Nigeria PlcN0.10k30th June 2020Nil27th - 31st July 202027th August 20203rd September
University Press PlcN0.15k10th June 20201 for every 13 shares25th September 20205th November 20205th November 2020
AIICO InsuranceNil10th June 20201 for every 13 shares29th June - 3rd July 2020To to be communicatedNA25th June 2020
Red Star Express PlcN0.35k28th August 2020Nil21st - 25th September 20208th October 202015th October 202018th September 2020
Consolidated Hallmark Insurance PlcNil4th August 20201 for every 14 shares19th - 25th 202026th August 2020Nil18th August 2020
Custodian Investment PlcN0.10k29th July 2020Nil24th - 28th August 2020Nil1st September21st August 2020
SFS Real Estate Investment TrustN7.3017th August 2020Nil7th - 11th September 2020Nil25th September 20204th September 2020
Northern Nigeria Flour Mills PLCN0.15k13th August 2020Nil25th - 28th August 20208th September 202010th September 202024th August 2020
Honeywell Flour millsN0.04k5th August 2020Nil17th - 23rd September 202030th September 202030th September 202016th September 2020
Presco Plc (Updated)N2.00k3rd June 2020Nil20th - 22nd July 20202nd September 20204th September 202017th July 2020
Cornerstone InsuranceNil4th August 20207 new shares for every 30 existing shares13th -17th August 2020NANA12th August 2020
Flour Mills of NigeriaN1.4k29th July 2020Nil17th August - 21st August 202010th September14th September 202014th August 2020
MTN Nigeria PlcN3.50k29th July 2020Nil17th August 2020NA24tb August 202014th August 2020
Cutix PLCN0.12K29th July 2020Nil16th - 20th November 202027th November 202030th November 202013th November 2020
C & I Leasing PLCN0.20k30th June 2020Nil14th - 16th July 202023rd July 202031st July 202013th July 2020
McNichols Consolidated Plc (Revised)N0.03k1st April 2020Nil2nd - 6th July 202030th July 20207th August 20201st July 2020
Dangote Sugar Refinery PlcN1.10k8th June 2020Nil22nd June 20209th July 2020within 48hrs after AGM19th June 2020
Jaiz bankN0.03k9th June 2020Nil29th June - 3rd July 202016th July 202016th July 202026th June 2020
UAC of Nigeria Plc (UPDATED)N0.10k20th April 2020Nil19th - 22nd May 202015th July 202016th July 202018th May 2020
Prestige Assurance PlcNil4th June 20202 New shares for every 11 existing shares22nd - 26th June 202030th June 2020N/A19th June 2020
Trans-Nationwide Express PlcN0.03k1st June 2020Nil6th - 10th July 202016th July 202020th July 20203rd July 2020
Nigeria Aviation Handling Company PLCN0.30k28th May 2020Nil1st - 3rd July 202016th July 202016th July 202030th June 2020
Skyway Aviation Handling Co. PlcN0.16k1st June 2020Nil17th - 23rd June 202030th June 202030th June 202016th June 2020
Glaxo SmithKilne Consumer Nig. PlcN0.55k22nd May 2020Nil23rd June - 2nd July 202023rd July 202024th July 202022nd June 2020
Airtel Africa0.0313th May 2020Nil6th July 2020Not applicable24th July 2020NA
Caverton Offshore Support Group PlcN0.20k22nd May 2020Nil16th June 202025th June 202025th June 202015th June 2020
Nigerian Breweries Plc (Revised)N1.51k20th May 2020Nil5th-11th March 202023rd June 202024th June 20204th March 2020
BUA CementN1.75k19th May 2020Nil28th Sept - 2nd Oct 202022nd October 202023rd October 202025th September 2020
NASCON Allied Industries PlcN0.40k13th May 2020Nil15th - 16th July 202027th July 202029th July 202014th July 2020
Total Nigeria PlcN6.7113th May 2020Nil5th - 11th June 2020to be announced24hrs after meeting4th June 2020
Cadbury Nigeria PlcN0.49k13th May 2020Nil25th - 29th May 202024th June 202025th June 202022nd May 2020
May and Baker PlcN0.25k13th May 2020Nil27th - 29th May 20204th June 20208th June 202026th May 2020
NPF Microfinance Bank PlcN0.20k11th May 2020Nil17th - 22nd June 202030th June 202030th June 202016th June 2020
Okomu Oil Palm PlcN2.0023rd April2020Nil19th - 22nd May 202028th May 202029th May 202018th May 2020
Lafarge Africa PlcN127th April 2020Nil4th - 8th May 20203rd June 20203rd June 202030th April 2020
Wema Bank PlcN0.04k23rd April 2020Nil7th - 12th May 202018th May 202018th May 20206th May 2020
Union bank of NigeriaN0.25k13th April 2020Nil27th - 30th April 20206th May 20206th May 202024th April 2020
FBN HoldingsN0.38k6th April 2020Nil21st - 22nd April 202027th April 202028th April 202020th April 2020
Lafarge Africa PlcN1.00k6th April 2020Nil4th - 8th May 202026th May 202026th May 202030th April 2020
Ikeja Hotel PlcN0.023rd April 2020Nil2nd - 8th July 202030th July 20207th August 20201st July 2020
NEM InsuranceN0.15k1st April 2020Nil4th - 8th May 2020to be announcedto be announced30th April 2020
FCMB Group PlcN0.14k31st March 2020Nil15th - 17th April 202028th April 202028th April 202014th April 2020
Beta Glass Nigeria PlcN1.67k30th March 2020Nil15th - 19th June 20202nd July 20203rd July 202011th June 2020
Capital Hotel PlcN0.05k26th March 2020Nil20th - 24th April 202027th May 20203rd June 202017th April 2020
Sterling bank PlcN0.03k26th March 2020Nil5th - 8th May 202020th May 202020th May 20204th May 2020
Boc GasesN0.30k26th March 2020Nil8th - 10th June 202025th June 202026th June 20205th June 2020
Fidelity Bank PlcN0.20k23rd March 2020Nil20th - 24th April 202030th April 202030th April 202017th April 2020
Seplat Petroleum Dev. Company Plc0.0523rd March 2020Nil13th May 202028th May 20204th June 202012th May 2020
Julius Berger Nig. PlcN2.75k13th March 20200.0021st to 3rd June 202018th June 202019th June 202029th May 2020
Nigeria Energy Sector Fund (NESF)N75.0010th March 2020Nil20th March 20206th April 202019th March 2020
Access Bank PlcN0.40k6th March 2020Nil15th April 202030th April 202030th April 202014th April 2020
Nestle Nig PlcN45.00k28th February 2020Nil18th - 22nd May 20202nd June 20202nd July 202015th May 2020
Stanbic IBTC Holdings PlcN2.005th March 2020Nil19th - 26th March 202030th June 202018th June 202018th March 2020
Guaranty Trust Bank PlcN2.50k2nd March 2020Nil19th March 202030th March 202030th March 202018th March 2020
United Bank of AfricaN0.80k2nd March 2020Nil16th - 20th March 202027th March 202027th March 202013th March 2020
Transcorp PlcN0.01k28th February 2020Nil18th - 23rd March 202025th March 202027th March 202017th March 2020
MTN Nigeria PlcN4.97k28th February 2020Nil16-Feb-008th May 202019th May 202017th april 2020
Transcorp Hotels PlcN0.07k28th February 2020Nil13th-17th March 202024th March 202026th March 202012th March 2020
United Capital PLCN0.50k18th February 2020Nil9th-13th March 202024th March 202026th March 20206th March 2020
Infinity Trust Mortgage Bank PLCN0.035K30th January 2020Nil9th-13th March 20207th May 202014th May 20206th March 2020
Zenith bank PlcN2.50k21st February 2020Nil10th March 202016th March 202016th March 20209th March 2020
Africa Prudential PlcN0.70k25th february 2020Nil9th-13th March 202023rd March 202023rd March 20206th March 2020
Dangote Cement PlcN16.0025th february 2020Nil26th May 202015th June 202016th June 202025th May 2020
1-Jan-70

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