Corporate actions are decisions taken by a company’s board of directors or management, that could have impact on the firm itself or shareholders.
Examples of corporate actions include the payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates.
Here is a review of corporate actions that held last week, and those expected this week.
Last week’s Corporate Actions
Cement Company of Northern Nigeria Plc
Cement Company of Northern Nigeria held its Annual General Meeting on the 26th of July, 2018. The company paid a dividend of N1.25 for the 2017 financial year.
RAK Unity Petroleum Co Plc
RAK Unity Petroleum closed its shareholders register from the 23rd to 27th of July, 2018. The closing of a shareholders register is in preparation for payment of a dividend. The company will be paying a dividend of 10 kobo per share for the 2017 financial year.
Conoil Plc
Conoil paid a dividend of N2.00 on the 23rd of July, 2018
NPF Microfinance Bank Plc
NPF Microfinance Bank appointed three non-Executive Directors: Abdulrahman Satumari, Rakiya Edota Shehu, and Salihu Hashimu.
FBN Holdings
FBN Holdings released its results on Friday after trading hours. Interest income decreased from N232 billion in 2017 to N225 billion in 2018. Profit before tax, however, rose from N35.6 billion in 2017 to N38.8 billion in 2018. Profit after tax also increased from N29.4 billion in 2017 to N33.5 billion in 2018.
AXA Mansard Insurance Plc
AXA Mansard released its H1 2018 results after trading. Gross premium written increased from N17.9 billion in 2017 to N23.5 billion in 2018. Profit before tax fell from N2.3 billion in 2017 to N1.8 billion in 2018. Profit after tax also dropped from N2.1 billion in 2017 to N1.5 billion in 2018.
First City Monument Bank Plc
FCMB released its results for the period ended June 2019. Gross earnings increased from N77.5 billion in 2017 to N83.9 billion in 2018. Profit before tax jumped from N3.8 billion in 2017 to N7.1 billion in 2018. Profit after tax also surged from N3.0 billion in 2017 to N5.7 billion in 2018.
Continental Reinsurance Plc
Continental Reinsurance this week released its results for the period ended June 2018. Gross written premium increased from N6.5 billion in 2017 to N7.7 billion in 2018. Profit before tax rose from N705 million in 2017 to N928 million in 2018. Profit after tax also increased from N515 million in 2017 to N712 million in 2018.
Caverton Offshore Support Group Plc
The company this week released its results for the period ended June 2018. Revenue increased from N10.1 billion in 2017 to N14.2 billion in 2018. Profit before tax jumped from N938 million in 2017 to N1.5 billion in 2018. Profit after tax also rose from N594 million in 2017 to N962 million in 2018.
Vitafoam Plc
The company this week released its results for the 9 months ended June 2018. Revenue grew from N14.7 billion in 2017 to N16 billion in 2018. Profit before tax jumped from N258 million in 2017 to N788 million in 2018. Profit after tax also increased from N133 million in 2017 to N515 million in 2018
Lafarge Africa Plc
The company this week released its results for the half year ended June 2018. Revenue rose by 5% from ₦154.84 billion in H1 2017 to ₦162.29 billion in H1 2018.
Loss before tax dropped to ₦6.35 billion for the period ended June 2018 as against ₦18.16 billion recorded in the comparative period in 2017. It recorded a loss after tax of ₦3.9 billion in H1 2018 as against a profit after tax of ₦19.7 billion recorded in H1 2017.
It also disclosed that it was planning a N90 billion rights issue, and appointed Rossen Papazov as a Non-Executive Director. He replaces Mr. Jean-Carlos Angulo who resigned effective 20th of July 2018.
Dangote Sugar Refinery
Dangote Sugar Refinery released its results for the period ended June 2018. Revenue dropped from N114 billion in 2017 to N84 billion in 2018. Profit before tax also fell from N25.2 billion in 2017 to N19.9 billion in 2018. Profit after tax also fell from N17.1 billion in 2017 to N12.7 billion in 2018.
Union Bank
Union Bank released its financial statements for the period ended June 2018. Gross earnings increased from N72 billion in 2017 to N83 billion in 2018. Profit before tax increased from N9.4 billion in 2017 to N11.6 billion in 2018. Profit after tax also rose from N9.2 billion in 2017 to N11.4 billion in 2018.
NEM Insurance Plc
NEM Insurance released its financial statements for the period ended June 2018. Gross premium written increased from N8.1 billion in 2017 to N9.1 billion in 2018. Profit before tax rose from N1.4 billion in 2017 to N1.7 billion in 2018. Profit after tax also jumped from N1.2 billion in 2017 to N1.5 billion in 2018.
Julius Berger Plc
Julius Berger Plc released its financial statements for the period ended in June 2018. Revenue increased from N69 billion in 2017 to N73 billion in 2018. Profit before tax jumped from N55 million in 2017 to N3.0 billion in 2018. The company made a profit after tax of N2.5 billion in 2018 as against a loss after tax of N364 million in 2018.
MRS Oil Plc
MRS Oil released its results for the period ended June 2018. Revenue decreased from N62.4 billion in 2017 to N62.3 billion in 2018. Profit before tax fell from N1.1 billion in 2017 to N773 million in 2018. Profit after tax fell from N703 million in 2017 to N505 million in 2018.
Okomu Oil Palm Company Plc
Okomu Oil released its results for the period ended June 2018. Turnover increased from N12.4 billion in 2017 to N12.9 billion in 2018. Profit before tax, however, fell from N7.8 billion in 2017 to N6.9 billion in 2018. Profit after tax also dropped from N6.2 billion in 2017 to N5.9 billion in 2018.
AIICO Insurance Plc
AIICO released its results for the period ended June 2018. Gross premium written increased from N8.1 billion in 2017 to N9.1 billion in 2018. Profit before tax rose from N1.4 billion in 2017 to N1.8 billion in 2018. Profit after tax also increased from N1.2 billion in 2017 to N1.5 billion in 2018.
Corporate Actions for this week
Seplat Plc
Seplat Plc will be releasing its financial statements for the period ended June 2018 on Monday, 29th of July, 2018. The company will also hold an investor conference call following the release of the results.
MRS Oil Plc
MRS Oil Plc will be holding its Annual General Meeting (AGM) on the 1st of August, 2018. AGMs are usually opportunities for management to brief investors on plans for the year ahead.
John Holt Plc
John Holt Plc will be holding its Annual General Meeting (AGM) on the 2nd of August, 2018.
Ikeja Hotel Plc
Ikeja Hotel will be holding its Annual General Meeting (AGM) on the 2nd of August, 2018.
Conoil Plc hasn’t paid the N2.00 per share dividend yet. I have shares in Conoil and haven’t received any dividend payment for 2017 financial year. You can investigate further.