At the end of yesterday’s trading session, Nigeria Aviation Handling Company Plc share price appreciated by 9.79% to close at N4.71 per share, taking the market capitalization to N7.65 billion.
The growth in share prices which was recorded by the aviation company can be attributed to investors’ anticipation of the company’s recently announced bonus issue and dividend payment.
As contained in the company’s Audited Financial result for the year ended December 31, 2021, a dividend of N.041k per share, amounting to N665 million, as against N203 million paid in 2020, was proposed at the board meeting held on 29 March 2022 and subject to the approval at the Annual General Meeting.
Furthermore, the Directors have recommended a script issue of (1) unit of shares for every five (5) unit of shares held by existing shareholders as fully paid-up shares amounting to N162 million (Gross of withholding tax) to be capitalised from retained earnings.
Nairametrics recommended NAHCO as a buy in its flagship Stock Select Newsletter classifying it as a hidden gem.
“We believe it (NAHCO) has the momentum to post more capital gains in the coming months. Important to add that NAHCO’s current share price is its highest in over 5 years.
“A look at NAHCO’s balance sheet also shows it has healthy fundamentals buttressed by zero debts and a healthy cash pile of about N2.5 billion. NAHCO is what we classify as a hidden gem and is one for the short to long term,” SSN.
Stock performance summary
Investors have now discovered why NAHCO is such a gem hence the rally in the shares that has now resulted in a gain of N682.17 million in market capitalization at the close of trading activities on Nigeria’s stock exchange.
- The shares of the quoted company increased from N4.29 per share at the start of the trading day to N4.71 per share, the highest price traded at the close of the market, to represent a growth of 9.79% which in monetary terms is N3.00.
- The buy interests witnessed in the shares of NAHCO Plc positively influenced the company’s market capitalization from N6.97 trillion to N7.65 trillion at the end of the day’s trading activities.
- The shares of the company have gained 25.94% from year-to-date, starting the year at N3.74 and currently traded at N4.71. The company’s shares are currently trading at their 52-week high at N4.71.
- However, the shares of the company have returned about 134.33% gains for investors who bought them at their 52-week low trading price of N2.01 per share.
During the day’s trading hours, 6,492,858 ordinary shares of NAHCO Plc worth about N30.53 million, were exchanged in 192 executed deals.
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