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.
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.
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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.
This shows a surge of 193% from N834.4 million recorded in the corresponding period of 2018.
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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.
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.
Stock Market
DANGOTE CEMENT, GUINNESS drops lower, as investors lose N75.07 billion
Nigerian bourse recorded its second trading loss for the week.
The Nigerian Stock Exchange on Tuesday closed bearish. The All Share Index dropped by 0.58% to close at 24,883.70 basis points as against -0.06% drop recorded on Monday.
Its Year-to-Date (YTD) returns currently stands at -7.30%. Nigerian bourse’s market capitalization presently stands at N12,981 trillion. Investors’ losses recorded today stood at N75.07 billion.
Trading volume turnover closed positive as volume moved up by +17.84% as against +4.90% uptick recorded in the previous session. ACCESS, FIDELITYBK, and GUARANTY were the most active to boost market turnover.
Market breadth closed negative as CADBURY led 16 Gainers as against 17 Losers topped by PRESTIGE.
Top gainers
- CADBURY up 6.82% to close at N7.05
- NB up 6.25% to close at N34
- ARDOVA up 4.94% to close at N12.75
- VALUEFUND up 1.37% to close at N115.05
- GUARANTY up 1.02% to close at N24.8
Top losers
- IKEJAHOTEL down 9.82% to close at N1.01
- MANSARD down 8.23% to close at N1.45
- DANGCEM down 4.09% to close at N136
- GUINNESS down 3.33% to close at N14.5
- UCAP down 3.09% to close at N3.14
Outlook
Nigerian bourse recorded its second trading loss for the week, triggered by high selling pressures notable in DANGCEM and GUINNESS.
Nairametrics, however, recommend you seek the counsel of a certified financial advisor when buying stocks.
Stock Market
ZENITH BANK, ECOBANK, UBA, record losses, as ASI drops by 0.06%
The market breadth index was broadly positive with 18 gainers as against 11 losers.
The Nigerian Stock Exchange started the first trading week on a slightly bearish note. The All Share Index dropped by 0.06% to close at 25,027.61 basis points, as against +0.45% gain recorded previously.
Its Year-to-Date (YTD) returns currently stands at -6.76%. Also, the Nigerian bourse’ market capitalization presently stands at N13.056 trillion.
The activity levels were mixed such that while the total volume of shares traded in 4,294 deals improved by 5.02% to 175.32 million units, the total value fell by -28.93% to N1.43 billion. FBNH was the most traded by volume at 22.93 million units as GUARANTY topped by value at N344.27 billion.
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Meanwhile, the market breadth index was broadly positive with 18 gainers as against 11 losers. CORNERST (+9.09%) led the gainer’s chart today, while CHAMPION (-9.47%) topped the losers.
The top gainers
- UNILEVER up 7.14% to close at N12
- UCAP 6.93% to close at N3.24
- GUINNESS up 6.38% to close at N15
- CAP up 2.94% to close at N17.5
- WAPCO up 2.13% to close at N12
The top losers
- UACN down 4.84% to close at N5.9
- ETI down 4.71% to close at N4.05
- UBA down 1.53% to close at N6.45
- BUACEMENT down 1.39% to close at N38.95
- ZENITHBANK down 0.59% to close at N16.8
Outlook for the coming days
The NSE ended Monday’s trading session on a slightly bearish note, as the Federal Government lifted the ban on interstate travels coupled with the resumption of local flights. These have helped in boosting economic activities around major economic hubs in Nigeria.
READ ALSO: Top banks’ stocks plunge, as bears overwhelms Nigerian tier-2 banks’ rally
However, Nairametrics envisages cautious buying on that basis of prevailing low market liquidity and the recent plunge in Nigeria’s external reserve below the $36 billion levels.
Stock Market
Global stocks surge, triggered by solid economic data
Shares of oil majors, BP and Royal Dutch Shell gained 3.4% and 2.7% respectively.
Global Stocks rose high on Monday as industrial activity in the world’s second-largest economy gained strength. This is another sign of recovery after an impressive U.S Jobs report released on Friday.
The broader Euro STOXX 600 rose 0.6%, with London’s FTSE buoyed 1% and European oil and gas shares surging 2% on rising oil prices.
Shares of oil majors, BP and Royal Dutch Shell, gained 3.4% and 2.7% respectively after Saudi Aramco raised optimism about growth in demand in the Asian oil market. Iraq had also pledged to curb its oil production.
“China is so much in advance in this process of lockdowns and exiting lockdown, that any good signs for the Chinese economy are essential (for the world economy),” said Florian Ielpo, head of macroeconomic research at Unigestion.
Deflation at China’s factories eased in July, data showed, driven by a rise in global energy prices and industrial activity climbing back towards pre-coronavirus levels. In other words, industrial output in China is steadily returning to levels seen before the pandemic paralyzed huge swathes of the economy, driven by pent-up demand, government stimulus, and surprisingly resilient exports.
Stephen Innes, Chief Global Market Strategist at AxiCorp in a note to Nairametrics explained the macros affecting stock traders, especially in the American stock markets. He said;
“US Mega Cap stocks put in another solid week, but fatigue is showing in Software/ SaaS. Single-stock dispersion and volatility underneath the surface are picking up with a focus on Small and Midcap earnings.
“The US election will become more of a focus once the earnings season is over even more so as most of the worst-case scenario leaves US President Donald Trump out of the equation.
“The President is growing desperate in the face of rising infections and falling poll numbers. And if he thinks it will boost his polling numbers, look for him to lash out at China more aggressively even heaping on additional tariffs.”
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Muhammad Salis Elhassan
June 13, 2020 at 12:10 pm
May we know how much is been spent on the board members and executives of the bank? I believe they should prone their allowances to a reasonable amount to allow shareholders earn more dividend.