KEY DETAILS:
- Price Adjustment: Airtel Africa Plc’s share price on the Nigerian Exchange (NGX) dropped from N2,150 to N2,097 following a price adjustment for a N53 dividend payment.
- Dividend Payment: Airtel Africa paid N53.05 per share to its shareholders for the 2023 financial year.
- Price Stability: The share price had remained stable due to limited trading activity after the company's share buy-back program.
- 52-Week Price Range: The stock’s market price of N2,150 reflected low volatility. Over the past year, its highest price was N2,200, and its lowest was N1,250. Post mark down, the stock trades at a 5% discount to its 52-week high but significantly above its 52-week low.
- Share Buy-Back Program: Airtel Africa is repurchasing shares on the London Stock Exchange from Citigroup Global Markets Limited. Since the program started on March 1, 2024, the company has bought 21,481,816 ordinary shares at an average price of GBP 107.37 per share.
BACKGROUND INFORMATION:
- Market Performance: Despite the unusual trade volume, Airtel Africa maintains a balance of N8 trillion as of June 5, 2024.
- Recent Acquisitions: The company bought 17,386,055 shares in three months from the London Stock Exchange as of June 7, 2024.
- Previous Decline: The stock fell by 10.3% after its earnings report on May 13, 2024.
Conclusion: The recent price adjustment for dividend payments led to a minor drop in Airtel Africa’s share price. However, the company continues its share buy-back program to maintain stability and shareholder value.
- Price Adjustment: Airtel Africa Plc’s share price on the Nigerian Exchange (NGX) dropped from N2,150 to N2,097 following a price adjustment for a N53 dividend payment.
- Dividend Payment: Airtel Africa paid N53.05 per share to its shareholders for the 2023 financial year.
- Price Stability: The share price had remained stable due to limited trading activity after the company's share buy-back program.
- 52-Week Price Range: The stock’s market price of N2,150 reflected low volatility. Over the past year, its highest price was N2,200, and its lowest was N1,250. Post mark down, the stock trades at a 5% discount to its 52-week high but significantly above its 52-week low.
- Share Buy-Back Program: Airtel Africa is repurchasing shares on the London Stock Exchange from Citigroup Global Markets Limited. Since the program started on March 1, 2024, the company has bought 21,481,816 ordinary shares at an average price of GBP 107.37 per share.
BACKGROUND INFORMATION:
- Market Performance: Despite the unusual trade volume, Airtel Africa maintains a balance of N8 trillion as of June 5, 2024.
- Recent Acquisitions: The company bought 17,386,055 shares in three months from the London Stock Exchange as of June 7, 2024.
- Previous Decline: The stock fell by 10.3% after its earnings report on May 13, 2024.
Conclusion: The recent price adjustment for dividend payments led to a minor drop in Airtel Africa’s share price. However, the company continues its share buy-back program to maintain stability and shareholder value.