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Stock Market

Jaiz Bank Plc announces final dividend of 3 kobo for FY 2019

Jaiz Bank Plc. has proposed a dividend payment of N0.03 kobo per 50 kobo ordinary share, the Company’s AGM will be held at Transcorp Hilton, on 16th of July, 2020. 

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Jaiz Bank Plc, First shared profit bank in Nigeria approaches 10 years, JAIZ Bank Plc set for private placement, JAIZ Bank Plc set for private placement

Jaiz Bank Plc has proposed that a dividend payment of N0.03 kobo per 50 kobo ordinary share, subject to withholding tax and approval, will be paid to shareholders whose names appear on the Register of Members on Friday, 26th June, 2020.

Date of payment: On 16th July 2020, dividends will be paid electronically to shareholders whose names appear in the Register of Members as at 26th June 2020, that have completed the e-dividend registration, and mandated the registrar to pay their dividends directly into their bank accounts.

Date of the Meeting: The company’s Annual General Meeting will be held at Transcorp Hilton, 1 Aguiyi Ironsi Street, Maitama-FCT Abuja on Thursday 16th July, 2020, 11am.

Closure of Register: The register of shareholders shall be closed from Monday, 29th June to Friday, 3rd July, 2020.

READ MORE:Banks defy headwinds, earn more than N260 billion profits in Q1 2020

Jaiz Bank Plc, a Nigerian-based non-interest (Islamic) bank, declared a Profit after Tax of N2.4 billion in its audited financial results for the year 2019.

Jaiz Bank Plc., announces final dividend of 3 kobo for FY 2019

This shows a surge of 193% from N834.4 million recorded in the corresponding period of 2018.

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READ ALSO: COVID-19 Intervention Fund: CBN disburses N107.45 billion to successful beneficiaries

The bank also declared a 135% surge in Profit before Tax for the period under review from N879.7million recorded in FY ’18 to N2.1 billion as at FY ’19.

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Highlights of the audited financial statement also showed that Gross Income grew by 80% to N13.5billion in FY 2019, from N7.5billion recorded in FY 2018, while Total Assets gained 54% to N167.27 billion in FY 2019 from N108.46 billion recorded in FY 2018. 

 

 

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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    Markets

    Bears take hold of the NSE Banking index

    The NSE Banking Index finished red with a loss of -0.52%.

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    Nigerian Stock Exchange, Nigerian Stocks, Daily market summary, NSE, Bourse bows to bears as ASI dip 0.55% on Friday, NSE: Bears dominant reign continues as ASI shed 4.91% on Tuesday, Bearish trend persists at Nigerian Stock Exchange, as investors lose N456 billion, Bears return, Nigeria’s local bourse drops 0.12%, Bears return Nigeria's ASI index down 3.12% Investors lose N370 billion, Bulls lift Nigerian bourse up 0.10%, as trading volume picks up,  BUACEMENT, CADBURY, WAPCO Bring the Bears to Party, Investors Lose N198.05 Billion

    The NSE Banking Index traded bearish at the end of the trading session today. 6 banks posted Gains and 4 Losses were recorded. The NSE Banking Index finished red with a loss of -0.52% adding to the -0.97% held in the previous trading session. The index dropped to 343.03 index points at the close of trading activities today.

    Sterling Bank posted a substantial loss of -9.76% adding to the -0.61% held at the previous trading session pushing the price downwards from N1.70 to N1.49 and leading the top losers in the NSE Banking index.

    Zenith Bank also saw another loss of -1.38% adding to the -0.91% held in the previous session pushing the price from N22.00 to N21.80.

    Jaiz Bank lost some profit from the +6.67% held in the previous trading session by posting a loss of -1.56% settling the price at N0.63.

    Fidelity Bank broke the stalemate held at the previous trading session to post a loss of -2.83% settling the price at N2.39 from N2.47.

    Union Bank posted profits of +2.20% to settle the price at N4.65.

    UBA also made gains of +2.21% pushing the price downwards to N6.95 from N6.80.

    Wema Bank recovered from the decline in the previous session to post gains of (+1.79%) pushing the price to N0.58 from N0.55.

    GT Bank also posted a profit of +1.39% moving price from 28.75 to N29.15.

    Access Bank made a decisive move from its stalemate position with gains of +0.66% settling the price at N7.60.

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    Ecobank made profits of (+1.04%) settling the price at N4.90.

    Outlook

    • Market sentiment trends towards recovery as 6 companies in the NSE Banking Index made gains as opposed to 4 losses at the end of the trading session today.
    • Nairametrics advises cautious participation in the market amid growing uncertainties in Nigeria.

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    Markets

    Nigerian stocks make recovery as JAPAULGOLD drops

    The All-Share Index increased by +0.61% to close at 38,808.01 from 38,571.89 index points.

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    The Nigerian Stock Exchange market made a recovery at the end of the trading session. The All-Share Index increased by +0.61% to close at 38,808.01 from 38,571.89 index points. CHAMS made the top position on the Gainers list.

    • Nigerian Stock Exchange market value currently stands at NGN 20.32 trillion. Its Year-to-Date (YTD) returns currently stands at -3.63%.
    • The market closed in loss as it saw more downturns, CHAMS led 21 Gainers, and JAPAULGOLD topped the 12 Losers chart with a noticeable bullish movement by the NSE ASI.

    Top gainers

    • CHAMS up +10.00% to close at N0.22
    • UAC-POP up +9.72% to close at N0.76
    • GUINNESS up +9.26% to close at N31.85
    • NNFM up +9.18% to close at N5.35
    • PZ up +8.33% to close at N4.50

    Top losers

    • JAPAULGOLD down -10.00% to close at N0.63
    • STERLNBANK down -9.78% to close at N1.48
    • FCMB down -8.90% to close at N2.66
    • MBENEFIT down -8.11% to close at N0.34
    • ACCESS down -6.17% to close at N7.60

    Outlook

    The NSE ASI saw a bullish recovery from the previous day loss. Predictions of the dominance of consumer goods were affirmed with the presence of GUINNESS and PZ in the top 5 Gainers list.

    However, the following stocks remain on our watchlist: Zenith Bank Plc, Guaranty, Access bank, STANBIC, JAPAULGOLD, GUINNESS and Flour Mills.

    • Nairametrics, however, advises cautious participation in the stock market in this era of growing uncertainties.

    Continue Reading

      





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