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Global stocks sell-off persists as resurgence of COVID-19 frighten investors 

Fresh contagion worries have impacted markets across the globe making some investors a little less optimistic.

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Global stocks sell-off persists as resurgence of COVID-19 frighten investors 

Asian shares, as well as U.S. stock futures staggered through trades on Friday with increasing worries about a new spike in COVID-19 cases.

Shares in China (CSI300) rose 0.61%, and this was largely propelled by gains made in the financial and health care sectors. However, South Korean stocks (KS11) fell by 0.81%, owing to concerns about diplomatic tension with North Korea. 

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READ MORE: Oil price slump continues as second wave of COVID-19 may crush the oil market

MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) eased by 0.06%, and Australia’s S&P/ASX 200 (AXJO) jumped by 1.0%, owing to gains in the energy sector attained with oil futures rising as renewed hopes that output cuts will put a floor under prices. 

Fresh contagion worries have impacted markets across the globe making some investors a little less optimistic about the speed of global economic recovery from the pandemic. In the U.S., all three major stock indexes oscillated through most of the day with investors struggling to assess the impact of employment data even with no guidance from corporations on their earnings.  

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This is especially because the rate of unemployment in the U.S. has remained high even with major signs of a second wave of COVID-19 prompting a second wave of layoffs. Companies have had to face large declines in revenues as a result of the pandemic. 

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Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana explained that, “The market is looking for its next big impulse. There are a lot of impulses in the market for investors to weigh, sift through and take into account to figure out the next direction.” 

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The Dow Jones Industrial Average (DJI) fell by 0.15% on Thursday, while the S&P 500 (SPXgrew by 0.06%. The Nasdaq Composite (IXIC) rose by 0.33% as well, even after spending most of the session down. 

 

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Stock Market

List of Dividends announced so far in 2020 (July)

List of Dividends announced so far in 2020 (July)

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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.

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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).

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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.

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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
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
Presco PlcN2.00k3rd June 2020Nil20th - 22nd July 20205th August 20207th August 202017th July 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
11 PlcN8.2528th May 2020Nil30th Sept - 5th Oct 2020to be announcedto be announced29th Sept 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 2020NilFebruary 16, 19008th 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
January 1, 1970

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Dark Clouds loom for investors as stocks fall 8% in first half of 2020

Nigerian stocks are down 8.8% for the year worse than 5.86% in May.

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The Nigerian Stock Market closed the month of June down 3.12% as investors clawed back profits after two successive bullish months. Stocks reversed a disastrous March (-18.75%) to gain 8.08% and 9.76% for April and May respectively.  

Global stocks had outstanding returns in major markets in Q2 2020, triggered by America’s biggest economy, as major Wall Street stocks recorded their best quarter in more than 20 years, boosted by monetary policyholders’ stimulus packages at enormous levels. 

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The S&P 500 index gained more than 20% in Q2 2020, printing the largest gain since the final quarter of 1998. Emerged and emerging market stock prices overall also gained about 17% in the second quarter, according to MSCI’s All-Country World index. 

Bearish June – The stock market staged a remarkable comeback in April and May just as Nigerians grappled with an economic shutdown caused by the COVID-19 pandemic. The Federal Government had in late March shut down economic activities, closed borders, and imposed curfews in Lagos, Abuja, and key states in a bid to contain the spread of the pandemic. Whilst economic activities stood at a standstill, investors pounced on cheap stocks beaten down by the March mega sell-offs. 

In June, the market sustained several mixed trading sessions with bulls and bears switching positions. However, stocks will eventually close the month in the negative snapping two months of positive gains. In terms of year to date returns, Nigerian stocks are down 8.8% for the year a sharp reversal from the 5.86% gains recorded in May but still better than the 20.65% year to date return recorded in March, capping a disastrous first quarter of the year.  

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Broken Economy – The Nigerian Economy is projected to get into a recession this year as the effects of the lockdown take its toll on the economy. The government faces a revenue crisis as debt service to revenue ratio hit 99% in the first quarter of the year. The government has earmarked a N2.3 trillion stimulus package which it hopes will jump-start the economy and cushion the effect of the impending recession. 

While the government deals with fiscal challenges, macro-economic issues persist with the CBN battling multiple interest rates and exchange rates respectively. For example, treasury bills, FGN bonds, and risk-free securities are trading at sub 5%. Conversely, the inflation rate rages on above 12% while lending rates remain sturdy at 21% compared to saving deposit rates at sub-2%. On the other hand, forex rates at the black market averages N460/$1 compared to the NAFEX at N388/$1. However, the official rate used for government revenue conversions remains at N360/$1 stoking pressure from the World Bank and institutional investors for a unification of the Naira. 

Outlook for Stocks – With the dark clouds hanging over the economy, investors have their gaze on stocks anticipating the earnings results which are due in a few weeks. Most investors anticipate weak earnings this quarter considering the lockdown and its ensuing consequence on the economy. Nairametrics expects earnings to be poor across sectors of the economy further depressing interest in the stock market.

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Most of the major companies trading on the stock exchange operate in industries that are not COVID-19 proof. From consumer goods to financial services, oil and gas, and Industrials, Nairametrics research expects the impact to be severe. Guinness Nigeria Plc, on Wednesday, informed the public in a statement to the Nigerian Stock Exchange, about the material circumstances that will impact its full-year financial results for 2020. According to the company, the adverse impact of the sharp contraction in economic activities and the knock-on effect of the COVID-19 lockdown took a toll on the on-trade segment of the business across all our markets. Production and revenues have thus been negatively affected. Nairametrics expects more companies to report similar guidance. 

Foreign investors also appear to be playing a waiting game as they await CBN action on the expected unification of the naira. Data from the CBN reveals portfolio investments into Nigeria was just $67.9 million for the month of April 2020, the lowest inflow recorded this year. FPI sharply reversed from $2.30 billion at the beginning of the year (January) to just $67.9 million inflow in April 2020. Nigeria, like most emerging markets, relies heavily on foreign portfolio investments to shore up its external reserves and manage its exchange rate position.  

Nigerian Stock market closed on Wednesday on a bullish note, as the all-share index gained 0.47% to close at 24,595 basis points as against 1.53% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -8.37%. Nigerian bourse market capitalization stood at N12.83 billion.  

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Market turnover closes negative as volume moved down by -29.45% as against +76.83%, the upside recorded in the previous session. WAPIC, UPDCREIT, and UBA were the most active to boost market turnover. GUARANTY and UBA topped market value list. 

 

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Stock Market

Nigerian Bourse begins Q3 2020 on a bullish note, BUACEMENT triggers rally 

Market breadth closed negative as CADBURY led 12 Gainers as against 22 Losers topped by NEIMETH.

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Dividends announced on the Nigerian stock exchange

Nigerian Stock market closed on Wednesday on a bullish noteas the all-share index gained 0.47% to close at 24,595 basis points as against 1.53% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at -8.37%. Nigerian bourse market capitalization stood at N12.83 billion. 

Market turnover closes negative as volume moved down by -29.45% as against +76.83%, the upside recorded in the previous session. WAPIC, UPDCREIT and UBA were the most active to boost market turnover. GUARANTY and UBA topped market value list. 

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Market breadth closed negative as CADBURY led 12 Gainers as against 22 Losers topped by NEIMETH at the end of today’s session  

READ ALSO: Forex: U.S dollar gains strength, global geopolitical climate worsens

Top gainers 

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STERLNBANK up 9.60% to close at N1.37,CADBURY up 9.63% to close at N7.4,BUACEMENT up 8.53%  to close at N42,WAPCO up 5.00% to close at N10.5,PZ up 2.50% to close at N4.1 

Top losers 

GUINNESS down 3.45% to close at N14, DANGSUGAR down 2.50% to close at N11.7, ZENITHBANK down 2.48% to close at N15.7, FLOURMILL down 1.84% to close at N18.65, MTNN down 1.28% to close at N116 

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Outlook 

Nigerian bourse began on a positive note, triggered by positive macros, such as rising crude oil prices. However notable blue-chip stocks printed lower. Nairametrics recommends you seek the counsel of a certified financial advisor, as market volatility strengthens. 

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