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[9:41 AM, 5/11/2022] +234 701 183 2778: the bullish trend was attributed to investors’ search for stocks with good fundamentals and positive returns above inflation rate. Also notable is the fact that players are keenly observing what is happening on the nation’s economic front, in the face of another Central Bank of Nigeria (CBN) Treasury Bills primary market auction.
Fixed income market players await the outcome of today’s auction, while seeking to hedge against the spiraling inflation. Stakeholders are, however, anxiously looking forward the plans by the CBN to intervene in the petrol products sector, which as announced is targeted at making premium motor spirit and diesel available, thereby easing the pain of manufacturers, SMEs, and households across the country, in the face of the epileptic power supply. Just as national assembly had order NNPC to provide aviation fuel for local airline.
As stated earlier, buying interests and positive sentiments continued, despite the profit-taking move in some stocks in the face of mixed volume patterns and increased positioning in blue chips on the strength of their earnings power. Tentatively, the continued mixed direction of fixed income market yields and TB rates may continue supporting the flow of funds into the stock market, on strong demand for stocks in this prevailing uptrend and positive sentiment amidst the ongoing war in Ukraine that has influenced the global markets in recent times
Fixed income market players await the outcome of today’s auction, while seeking to hedge against the spiraling inflation. Stakeholders are, however, anxiously looking forward the plans by the CBN to intervene in the petrol products sector, which as announced is targeted at making premium motor spirit and diesel available, thereby easing the pain of manufacturers, SMEs, and households across the country, in the face of the epileptic power supply. Just as national assembly had order NNPC to provide aviation fuel for local airline.
As stated earlier, buying interests and positive sentiments continued, despite the profit-taking move in some stocks in the face of mixed volume patterns and increased positioning in blue chips on the strength of their earnings power. Tentatively, the continued mixed direction of fixed income market yields and TB rates may continue supporting the flow of funds into the stock market, on strong demand for stocks in this prevailing uptrend and positive sentiment amidst the ongoing war in Ukraine that has influenced the global markets in recent times
What is driving the bull run in nigeria Nigeria market
(1.)Most investors are overweight on fixed income securities such as treasury bills, bonds, and commercial papers.Thus, they see the stock market as a viable alternative especially with the most highly capitalized stocks at a single-digit price to earnings ratio.
(2.)Some also point to high dividend yields for some valuable Nigerian stocks as an attraction. Dividend yields for some stocks traded at a higher premium to fixed income investments which offered single-digit yields.
(3.)Another interesting thing to note is that most of the investors’ driving volumes are more local investors rather than foreign investors.
(1.)Most investors are overweight on fixed income securities such as treasury bills, bonds, and commercial papers.Thus, they see the stock market as a viable alternative especially with the most highly capitalized stocks at a single-digit price to earnings ratio.
(2.)Some also point to high dividend yields for some valuable Nigerian stocks as an attraction. Dividend yields for some stocks traded at a higher premium to fixed income investments which offered single-digit yields.
(3.)Another interesting thing to note is that most of the investors’ driving volumes are more local investors rather than foreign investors.
*Meetings for the Next Three Weeks*
_(May 16-June 3; *M-F*)_
*Next Week; May 16-20*
*Wednesday, May 18*
• May 18, Seplat (AGM) *(P)* at 16A Temple Road (Olu Holloway), Ikoyi, Lagos.....11am. Prop Div...2.5 Cents, PD...May 25, QD...May 5, CDR....May 6. Reg; *DataMax*
*Thursday, May 19*
• May 19, Nem Insurance (AGM) *(P)* at the Conference Room, NEM House, 199, Ikorodu Road, Obanikoro, Lagos....10am. Prop Div....22k, PD....May 19, QD....Apr 29, CDR....May 2-6. Reg; *APEL*
• May 19, Berger Paints (AGM) *(P)* at Company Training Center, 102, Oba Akran Avenue, Ikeja, Lagos....10am. Prop Div.....40k, PD....May 19, QD...Apr 21, CDR....Apr 22-28. Reg; *Meristem*.
*Friday, May 20*
• May 20, Wema Bank (AGM) *(P)* at Wema Towers, Marina, Lagos....10am. Prop Div....24k, PD....May 20, QD...Apr 27, CDR....Apr 28-May 4. Reg; *GTL*.
*Next Following Week; May 23-27*
*Tuesday, May 24*
• May 24, UPDC (AGM) *(P)* at Asian Hall, Festival Hotel, Festac Town, Lagos....10am. Prop Div....Nil, CDR....May 3-10. Reg; *African Prudential*
• May 24, 11 Plc (AGM) *P)* at Transcorp Hotel, Abuja....11am. Prop Div....N8.50, PD....May 25, QD...Apr 22, CDR....Apr 25-29. Reg; *GTL*.
• May 24, Meyer (AGM) *(P)* at Westwood Hotels, Awolowo Way, Ikoyi, Lagos....11am. Prop Div....Nil, CDR.....Apr 25-29. Reg; *GTL*
• May 24, Capital Hotel (AGM) *(P)* at Sheraton Hotel, Abuja....12 Noon. Prop Div....Nil, CDR.....May 9-13. Reg; *CardinalStone*
*Wednesday, May 25*
• May 25, NCR (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....Nil, CDR.....May 9-13. Reg; *Apel*.
• May 25, ETI (AGM) *(O)* at Abidjan Cote d' Ivoire....10am (GMT). Prop Div....0.16 Cent, PD....July 6, QD....June 3, CDR....June 6-10. Reg; *GTL*.
• May 25, Okomu (AGM) *(P)* at Harbour Point Event Center, V/I, Lagos....11am. Prop Div....N8.00, PD...May 25, QD....Apr 22, CDR...Apr 25. Reg; *Cardinalstone*
*Thursday, May 26*
• May 26, Ellah Lakes (EGM) *(O)* at the Workstation, 7, Ibiyinka Olorunbe Close, V/I, Lagos.....11am. CDR....May 9-13. Reg; *Cardinalstone*
• May 26, NPF MFB (AGM) *(O)* at Muson Center, Onikan, Lagos.....11am. Prop Div....10k, PD....May 26, QD....May 6, CDR....May 9-13; Bon....1 for 9, QD....May 27, CDR....May 30-June 2. Reg; *CardinalStone*
• May 26, Stanbic IBTC (AGM) *(O) at Eko Hotel, V/I, Lagos....10am. Prop Div....200k, PD....May 27, QD....Apr 13, CDR....Apr 14-21. Reg; *First*
• May 26, Resourcery (AGM) *(P)* at 17/19, Idowu Taylor Street, V/I, Lagos....10am. Prop Div....Nil, CDR...May 16. Reg; *Crescent*
• May 26, GSK (AGM) *(P)* at GSK House, Industrial Avenue, Ilupeju, Lagos. Prop Div....45k, PD...May 27, QD....Apr 22, CDR...Apr 25-May 5. Reg; *GTL*
• May 26, Friesland Wamco (AGM) *(P)* at Sheraton Hotel, Ikeja, Lagos...10am. Prop Div....N4.23k, PD.... May 27, QD...Apr 28, Bon...1 for 1, CDR....Apr 29-May 5. Reg; *First*
• May 26, Prestige Assurance (AGM) *(P)* at Radisson Blu, Ozumba Mbadiwe, V/I, Lagos....12 Noon. Prop Div....1½k, PD....May 27, QD....May 20, CDR....May 23-27. Reg; *First*
• May 26, Caverton Offshore (AGM) *(P)* at Caverton Aviation Training Center, Murtala Mohammed Intl Airport, Ikeja, Lagos....11am. Prop Div....Nil, CDR....May 8-12. Reg; *Coronation*
*Friday, May 27*
• May 27, AIICO (AGM) *(P)* at Radisson Blu Hotel, Ikeja, Lagos....12 Noon. Prop Div...2k, PD....May 30, QD....May 20, CDR....May 23-27. Reg; *Coronation*
*Following Week; May 30-June 3*
*Tuesday, May 31*
• May 31, VFD Group (AGM) *(P)* at Radisson Blu, V/I, Lagos.....11am. Prop Div....N10.79, PD....May 31, QD.....May 13, CDR....May 16-20, Bonus...1 for 2. Reg; *African Prudential*
*Thursday, June 2*
• June 2, LTMB (AGM) *(P)* at Banquet Hall, Aenon Suites, No. 1, Femi Adefila Crescent, GRA, Osogbo, Osun State....11am Prop Div.....6k, PD....June 6, QD....May 13, CDR....May 16-20. Reg; *African Prudential*
• June 2, Multiverse (AGM) *(P)* at Company H/O, 195A,
Corporation Drive, Dolphin Estate,
Ikoyi, Lagos....11am. Prop Div...Nil, CDR....N/A. Reg; *Carnation*
• June 2, May & Baker (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....30k, PD...June 3, QD....May 17, CDR...May 18-20. Reg; *Veritas*
• June 2, Pharmadeko (AGM) *(P)* at Palmgroove House, 1, Shagamu Avenue, Ilupeju, Lagos....12 Noon. Prop Div....Nil, CDR....May 9-13. Reg; *APEL*
• June 2, Regency Alliance (AGM) *(P)* at The Zone, Plot 9, Gbagada Expressway, Gbagada, Lagos....11am. CDR...May 16-21. Reg; *Meristem*
*Friday, June 3*
• June 3, NASCON (AGM) *(P)* at Civic Center, V/I, Lagos....11am. Prop Div...40k, PD....June 6, QD...May 5, CDR....May 6. Reg; *Meristem*
_(May 16-June 3; *M-F*)_
*Next Week; May 16-20*
*Wednesday, May 18*
• May 18, Seplat (AGM) *(P)* at 16A Temple Road (Olu Holloway), Ikoyi, Lagos.....11am. Prop Div...2.5 Cents, PD...May 25, QD...May 5, CDR....May 6. Reg; *DataMax*
*Thursday, May 19*
• May 19, Nem Insurance (AGM) *(P)* at the Conference Room, NEM House, 199, Ikorodu Road, Obanikoro, Lagos....10am. Prop Div....22k, PD....May 19, QD....Apr 29, CDR....May 2-6. Reg; *APEL*
• May 19, Berger Paints (AGM) *(P)* at Company Training Center, 102, Oba Akran Avenue, Ikeja, Lagos....10am. Prop Div.....40k, PD....May 19, QD...Apr 21, CDR....Apr 22-28. Reg; *Meristem*.
*Friday, May 20*
• May 20, Wema Bank (AGM) *(P)* at Wema Towers, Marina, Lagos....10am. Prop Div....24k, PD....May 20, QD...Apr 27, CDR....Apr 28-May 4. Reg; *GTL*.
*Next Following Week; May 23-27*
*Tuesday, May 24*
• May 24, UPDC (AGM) *(P)* at Asian Hall, Festival Hotel, Festac Town, Lagos....10am. Prop Div....Nil, CDR....May 3-10. Reg; *African Prudential*
• May 24, 11 Plc (AGM) *P)* at Transcorp Hotel, Abuja....11am. Prop Div....N8.50, PD....May 25, QD...Apr 22, CDR....Apr 25-29. Reg; *GTL*.
• May 24, Meyer (AGM) *(P)* at Westwood Hotels, Awolowo Way, Ikoyi, Lagos....11am. Prop Div....Nil, CDR.....Apr 25-29. Reg; *GTL*
• May 24, Capital Hotel (AGM) *(P)* at Sheraton Hotel, Abuja....12 Noon. Prop Div....Nil, CDR.....May 9-13. Reg; *CardinalStone*
*Wednesday, May 25*
• May 25, NCR (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....Nil, CDR.....May 9-13. Reg; *Apel*.
• May 25, ETI (AGM) *(O)* at Abidjan Cote d' Ivoire....10am (GMT). Prop Div....0.16 Cent, PD....July 6, QD....June 3, CDR....June 6-10. Reg; *GTL*.
• May 25, Okomu (AGM) *(P)* at Harbour Point Event Center, V/I, Lagos....11am. Prop Div....N8.00, PD...May 25, QD....Apr 22, CDR...Apr 25. Reg; *Cardinalstone*
*Thursday, May 26*
• May 26, Ellah Lakes (EGM) *(O)* at the Workstation, 7, Ibiyinka Olorunbe Close, V/I, Lagos.....11am. CDR....May 9-13. Reg; *Cardinalstone*
• May 26, NPF MFB (AGM) *(O)* at Muson Center, Onikan, Lagos.....11am. Prop Div....10k, PD....May 26, QD....May 6, CDR....May 9-13; Bon....1 for 9, QD....May 27, CDR....May 30-June 2. Reg; *CardinalStone*
• May 26, Stanbic IBTC (AGM) *(O) at Eko Hotel, V/I, Lagos....10am. Prop Div....200k, PD....May 27, QD....Apr 13, CDR....Apr 14-21. Reg; *First*
• May 26, Resourcery (AGM) *(P)* at 17/19, Idowu Taylor Street, V/I, Lagos....10am. Prop Div....Nil, CDR...May 16. Reg; *Crescent*
• May 26, GSK (AGM) *(P)* at GSK House, Industrial Avenue, Ilupeju, Lagos. Prop Div....45k, PD...May 27, QD....Apr 22, CDR...Apr 25-May 5. Reg; *GTL*
• May 26, Friesland Wamco (AGM) *(P)* at Sheraton Hotel, Ikeja, Lagos...10am. Prop Div....N4.23k, PD.... May 27, QD...Apr 28, Bon...1 for 1, CDR....Apr 29-May 5. Reg; *First*
• May 26, Prestige Assurance (AGM) *(P)* at Radisson Blu, Ozumba Mbadiwe, V/I, Lagos....12 Noon. Prop Div....1½k, PD....May 27, QD....May 20, CDR....May 23-27. Reg; *First*
• May 26, Caverton Offshore (AGM) *(P)* at Caverton Aviation Training Center, Murtala Mohammed Intl Airport, Ikeja, Lagos....11am. Prop Div....Nil, CDR....May 8-12. Reg; *Coronation*
*Friday, May 27*
• May 27, AIICO (AGM) *(P)* at Radisson Blu Hotel, Ikeja, Lagos....12 Noon. Prop Div...2k, PD....May 30, QD....May 20, CDR....May 23-27. Reg; *Coronation*
*Following Week; May 30-June 3*
*Tuesday, May 31*
• May 31, VFD Group (AGM) *(P)* at Radisson Blu, V/I, Lagos.....11am. Prop Div....N10.79, PD....May 31, QD.....May 13, CDR....May 16-20, Bonus...1 for 2. Reg; *African Prudential*
*Thursday, June 2*
• June 2, LTMB (AGM) *(P)* at Banquet Hall, Aenon Suites, No. 1, Femi Adefila Crescent, GRA, Osogbo, Osun State....11am Prop Div.....6k, PD....June 6, QD....May 13, CDR....May 16-20. Reg; *African Prudential*
• June 2, Multiverse (AGM) *(P)* at Company H/O, 195A,
Corporation Drive, Dolphin Estate,
Ikoyi, Lagos....11am. Prop Div...Nil, CDR....N/A. Reg; *Carnation*
• June 2, May & Baker (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....30k, PD...June 3, QD....May 17, CDR...May 18-20. Reg; *Veritas*
• June 2, Pharmadeko (AGM) *(P)* at Palmgroove House, 1, Shagamu Avenue, Ilupeju, Lagos....12 Noon. Prop Div....Nil, CDR....May 9-13. Reg; *APEL*
• June 2, Regency Alliance (AGM) *(P)* at The Zone, Plot 9, Gbagada Expressway, Gbagada, Lagos....11am. CDR...May 16-21. Reg; *Meristem*
*Friday, June 3*
• June 3, NASCON (AGM) *(P)* at Civic Center, V/I, Lagos....11am. Prop Div...40k, PD....June 6, QD...May 5, CDR....May 6. Reg; *Meristem*
Home Industries Financial Services
FBN Holdings to release results on or before May 30th 2022
by Nairametrics May 15, 2022
Dr. Adesola Adeduntan, CEO, FirstBank
The Management of FBN Holdings, owners of First Bank, has confirmed it will release its audited results for the year ended December 2021 on or before the end of May 2022.
FBN Holding is yet to release its 2021 audited accounts and the first quarter 2022 results weeks after its competitors have published theirs.
It explained it is awaiting approval from its primary regulators, Central Bank of Nigeria.
The bank holding company confirmed it will release its audited financial statement and first quarter unaudited financial statements on or before May 30, 2022 after receiving the approval of the CBN.
See excerpts of the press release.
“FBN Holdings Plc (“FBNH” or “the Company”) wishes to notify the Nigerian Exchange Limited (‘NGX’ or ‘the Exchange’) and the investing public that the Company was unable to file and publish its Unaudited Financial Statements (Q’1 2022 UFS) for the first quarter ended March 31, 2022, by April 30, 2022, as required under the Rules of the NGX.”
“The Company’s inability to publish was due to the delays in finalizing the Audited Financial Statements (FY 2021 AFS) of the Group for the year ended December 31, 2021. The FY 2021 AFS was concluded and submitted to the Company’s primary regulator on April 29, 2022.”
“FBNH plans to publish both the FY 2021 AFS and the 01 2022 UFS on or before May 30, 2022, by which time the necessary approval would have been obtained from our primary regulator.”
FBN Holdings to release results on or before May 30th 2022
by Nairametrics May 15, 2022
Dr. Adesola Adeduntan, CEO, FirstBank
The Management of FBN Holdings, owners of First Bank, has confirmed it will release its audited results for the year ended December 2021 on or before the end of May 2022.
FBN Holding is yet to release its 2021 audited accounts and the first quarter 2022 results weeks after its competitors have published theirs.
It explained it is awaiting approval from its primary regulators, Central Bank of Nigeria.
The bank holding company confirmed it will release its audited financial statement and first quarter unaudited financial statements on or before May 30, 2022 after receiving the approval of the CBN.
See excerpts of the press release.
“FBN Holdings Plc (“FBNH” or “the Company”) wishes to notify the Nigerian Exchange Limited (‘NGX’ or ‘the Exchange’) and the investing public that the Company was unable to file and publish its Unaudited Financial Statements (Q’1 2022 UFS) for the first quarter ended March 31, 2022, by April 30, 2022, as required under the Rules of the NGX.”
“The Company’s inability to publish was due to the delays in finalizing the Audited Financial Statements (FY 2021 AFS) of the Group for the year ended December 31, 2021. The FY 2021 AFS was concluded and submitted to the Company’s primary regulator on April 29, 2022.”
“FBNH plans to publish both the FY 2021 AFS and the 01 2022 UFS on or before May 30, 2022, by which time the necessary approval would have been obtained from our primary regulator.”
Market data as at May 13 show some Nigerian stocks that far outperformed the market. Meyer Plc has risen by 552.2 percent this year to N3, followed by Wema Bank Plc, which was up by 406.9 percent YTD to N3.65; Presco Plc (N200 or 127.8 percent YTD); Guinness Nigeria Plc, which rose to N98, up by 151.3 percent YTD; Academy Press (N1.51 or 202 percent); and Learn Africa (N2.50 or 113.7 percent).
Other stocks prices and their year-to-date gains as at May 13 are: PZ Cussons (N11.60 or 90.2 percent), Seplat (N1,300 or 100 percent), SCOA (N1.94 or 86.5 percent), NACHO (N6.79 or 81.6 percent), ETI (N12.50 or 43.7 percent), Fidelity Bank (N3.70 or 45.1 percent), Jaiz Bank (90kobo or 60.7 percent), Cadbury (N15.90 or 80.7 percent), Champion Breweries (N4.39 or 86 percent), International Breweries (N8.80 or 77.8 percent), Nigerian Breweries (N77 or 54 percent), and Northern Nigeria Flourmills (N9.95 or 24.4 percent)
Investors in Conoil have also seen the stock value rise by 43.2 percent this year to N31.50; while Eterna at N7.25 per share has risen by 43.6 percent. Others are: Oando (N6.01 or 36 percent), UACN (N14.20 or 49 percent), Cornerstone (59kobo or 28.3 percent), Royal Exchange (N1.53 or 73.9 percent), United Capital (N13.50 or 36.4 percent), Julius Berger (N29.80 or 33.3 percent), Fidson Healthcare (N12.05 or 93.7 percent), Courteville (54kobo or 42.1 percent), Airtel Africa (N1,400 or 46.6 percent), and MTNN (N261.60 or 32.8 percent).
Analysts at Lagos-based Vetiva, in their market expectation for the new week, said: “Given the sustained buy-side activity seen throughout the week ended Friday May 13, coupled with the possibility of the CBN raising rates at next week’s MPC meeting, we anticipate a quiet start to the week, as investors remain on the sidelines in anticipation of the Monetary Policy decision before committing further to equities
Other stocks prices and their year-to-date gains as at May 13 are: PZ Cussons (N11.60 or 90.2 percent), Seplat (N1,300 or 100 percent), SCOA (N1.94 or 86.5 percent), NACHO (N6.79 or 81.6 percent), ETI (N12.50 or 43.7 percent), Fidelity Bank (N3.70 or 45.1 percent), Jaiz Bank (90kobo or 60.7 percent), Cadbury (N15.90 or 80.7 percent), Champion Breweries (N4.39 or 86 percent), International Breweries (N8.80 or 77.8 percent), Nigerian Breweries (N77 or 54 percent), and Northern Nigeria Flourmills (N9.95 or 24.4 percent)
Investors in Conoil have also seen the stock value rise by 43.2 percent this year to N31.50; while Eterna at N7.25 per share has risen by 43.6 percent. Others are: Oando (N6.01 or 36 percent), UACN (N14.20 or 49 percent), Cornerstone (59kobo or 28.3 percent), Royal Exchange (N1.53 or 73.9 percent), United Capital (N13.50 or 36.4 percent), Julius Berger (N29.80 or 33.3 percent), Fidson Healthcare (N12.05 or 93.7 percent), Courteville (54kobo or 42.1 percent), Airtel Africa (N1,400 or 46.6 percent), and MTNN (N261.60 or 32.8 percent).
Analysts at Lagos-based Vetiva, in their market expectation for the new week, said: “Given the sustained buy-side activity seen throughout the week ended Friday May 13, coupled with the possibility of the CBN raising rates at next week’s MPC meeting, we anticipate a quiet start to the week, as investors remain on the sidelines in anticipation of the Monetary Policy decision before committing further to equities
NB and INTBREW currently on full offer both loosing 10% and 9.66% respectively GUINNESS is also on -8%
A compelling investment case
A N1 million investment in Presco’s stock on the first trading day of January would be worth N2.28 million, implying a gain of N1.28 million.
In Okomu’s case, the N1 million investment would be worth N1.5 million, implying a gain of N514,000.
Okomu has a price-to-earnings (PE) ratio of 11.31x, which means investors pay N11.31 for each naira of profit earned by Okomu, while Presco has a PE ratio of 9.44x. Both companies are cheap relative to global peers.
For instance, Sime Darby Bhd, the largest listed palm oil company globally, is priced higher than Okomu and Presco at 14.76x.
A N1 million investment in Presco’s stock on the first trading day of January would be worth N2.28 million, implying a gain of N1.28 million.
In Okomu’s case, the N1 million investment would be worth N1.5 million, implying a gain of N514,000.
Okomu has a price-to-earnings (PE) ratio of 11.31x, which means investors pay N11.31 for each naira of profit earned by Okomu, while Presco has a PE ratio of 9.44x. Both companies are cheap relative to global peers.
For instance, Sime Darby Bhd, the largest listed palm oil company globally, is priced higher than Okomu and Presco at 14.76x.
The bullish run by Nigerian stocks may however not be sustainable. Interest rates may soon start to rise as the Central Bank of Nigeria comes under pressure from rising global interest rates. At the last Monetary Policy Committee meeting, four out of 10 members of the committee voted for a hike in interest rate, leading analysts to expect a hike in the second half of the year.
The NGX has also outperformed peers from the Johannesburg Exchange (6.1 percent) to the Egyptian Stock Exchange (-12.45 percent) and the Nairobi Securities Exchange (-15.91 percent).
It doesn’t stop there. Nigerian stocks have also outperformed emerging market peers, which are down 11 percent on average.
Some of the companies spurring the stock market rally, which is the biggest return in eight years, according to Bloomberg data, include Meyer Plc, a paint maker based in Lagos, which has returned 552 percent. That implies that an investor who staked N1 million in Meyer Plc’s shares at the beginning of the year would have made an extra N5.52 million as at May 16.
Other companies leading the charge include beer maker, Guinness Plc; tier-two bank, Wema; and palm-oil manufacturer, Presco Plc, all of which have rewarded investors with over double their investment in five months.
MTN, the country’s most capitalised company, has returned over 30 percent, exciting news for particularly new investors who partook in its initial public offer last year.
“We are only five months into the year and the stock market is already running ahead of our full-year estimate of a 16 percent return,
This is what the investment world is looking like for Nigerians investors
It doesn’t stop there. Nigerian stocks have also outperformed emerging market peers, which are down 11 percent on average.
Some of the companies spurring the stock market rally, which is the biggest return in eight years, according to Bloomberg data, include Meyer Plc, a paint maker based in Lagos, which has returned 552 percent. That implies that an investor who staked N1 million in Meyer Plc’s shares at the beginning of the year would have made an extra N5.52 million as at May 16.
Other companies leading the charge include beer maker, Guinness Plc; tier-two bank, Wema; and palm-oil manufacturer, Presco Plc, all of which have rewarded investors with over double their investment in five months.
MTN, the country’s most capitalised company, has returned over 30 percent, exciting news for particularly new investors who partook in its initial public offer last year.
“We are only five months into the year and the stock market is already running ahead of our full-year estimate of a 16 percent return,
This is what the investment world is looking like for Nigerians investors
10 MOST CAPITALIZED NIGERIAN COMPANIES - 12 MAY 2022
1 MTN: ₦5.32Tr
2 Airtel Africa: ₦5.26Tr
3 Dangote Cement: ₦5.11Tr
4 BUA Cement: ₦2.51T
5 Nestle: ₦1.11Tr
6 BUA Foods: ₦990Bn
7 Zenith: ₦753.5Bn
8 Seplat: ₦706.1Bn
9 GTCO: ₦694.6Bn
10 Nig Breweries: ₦621.8Bn
1 MTN: ₦5.32Tr
2 Airtel Africa: ₦5.26Tr
3 Dangote Cement: ₦5.11Tr
4 BUA Cement: ₦2.51T
5 Nestle: ₦1.11Tr
6 BUA Foods: ₦990Bn
7 Zenith: ₦753.5Bn
8 Seplat: ₦706.1Bn
9 GTCO: ₦694.6Bn
10 Nig Breweries: ₦621.8Bn
How the companies performed
In terms of ranking, the top five companies by revenue in the first quarter of 2022 were MTN Nigeria, Dangote Cement, Flour Mills, Nigerian Breweries, and Nestle Nigeria. The five companies generated a total revenue of N1.43 trillion, accounting for 61.6% of the total revenue recorded for the 28 companies.
Meanwhile, in terms of revenue growth, CAP Plc led the list with a 122% year-on-year growth in its revenue from N2.1 billion in Q1 2021 to N4.66 billion. It was closely followed by pharmaceutical company, GSK with a revenue growth of 113% to stand at N7.36 billion.
The likes of Seplat Energy, Notore, and Okomu Oil made the list of fastest revenue growth in the period under review with 74%. 71%, and 63% revenue growth respectively.
While considering the operating profit of the companies, Dangote Cement led the list with N182.8 billion, closely followed by MTN with N149.3 billion, while Seplat Energy was third on the list with N42.43 billion.
It is however worth noting that Cadbury Plc recorded a 495% growth in its operating profit, CAP Plc and Seplat Energy grew their operating profit by 218% and 151% respectively.
In terms of ranking, the top five companies by revenue in the first quarter of 2022 were MTN Nigeria, Dangote Cement, Flour Mills, Nigerian Breweries, and Nestle Nigeria. The five companies generated a total revenue of N1.43 trillion, accounting for 61.6% of the total revenue recorded for the 28 companies.
Meanwhile, in terms of revenue growth, CAP Plc led the list with a 122% year-on-year growth in its revenue from N2.1 billion in Q1 2021 to N4.66 billion. It was closely followed by pharmaceutical company, GSK with a revenue growth of 113% to stand at N7.36 billion.
The likes of Seplat Energy, Notore, and Okomu Oil made the list of fastest revenue growth in the period under review with 74%. 71%, and 63% revenue growth respectively.
While considering the operating profit of the companies, Dangote Cement led the list with N182.8 billion, closely followed by MTN with N149.3 billion, while Seplat Energy was third on the list with N42.43 billion.
It is however worth noting that Cadbury Plc recorded a 495% growth in its operating profit, CAP Plc and Seplat Energy grew their operating profit by 218% and 151% respectively.
What does it mean for a company to decide to cancel its unused shares? The Flourmill just resolved to cancel its unused shares. To hold its board meeting on 26th of May to approve its 2022 audited financial report. Its audited financial report is coming earlier than usual. What does all these portends?
Put only 5% of your effort into saving more. Put 95% of your focus on earning more & investing more.
Notice is Hereby Given that the Annual General Meeting (“AGM”) of UAC of Nigeria (UAC) Plc, will hold on Wednesday, 22 June 2022 at 10:00 am prompt. The meeting will be by proxy.
Date: Wednesday, 22 June 2022
Venue: UAC House, 1 -5, Odunlami Street, Marina, Lagos.
Time: 10:00 am prompt.
Kindly note that the AGM will be streamed live. This will enable shareholders and other stakeholders who will not be attending physically to follow the proceedings.
The link for the AGM’s Livestream will be made available on the Company’s website: www.uacnplc.com
Meanwhile, please click on the buttons below to download UACN Plc' Annual Report (PDF and Flip Format), Proxy Form and Election Form.
Date: Wednesday, 22 June 2022
Venue: UAC House, 1 -5, Odunlami Street, Marina, Lagos.
Time: 10:00 am prompt.
Kindly note that the AGM will be streamed live. This will enable shareholders and other stakeholders who will not be attending physically to follow the proceedings.
The link for the AGM’s Livestream will be made available on the Company’s website: www.uacnplc.com
Meanwhile, please click on the buttons below to download UACN Plc' Annual Report (PDF and Flip Format), Proxy Form and Election Form.
...it gained gain over 200% in the last 4 weeks to currently stand at N2.13 per share.
In what turned out to be a bearish week for the NGX, McNichols share price still posted gains of 58.96% last week, leading the top gainers of the trading week for the second consecutive week, as investors are still reacting bullishly to an updated corporate announcement that sees them not only get a N0.03 dividend but also bonus issues of shares.
In the last four weeks, we have seen MCNICHOLS gain over 200% to currently stand at N2.13 per share. Its market capitalization currently stands at N695,871,000.00, also gaining approximately 60%, for the trading week.
MCNICHOLS is the top performer in what turned out to be a marginally bearish week for the Nigerian Exchange, as its All-Share Index lost 0.22% to currently stand at 52,979.96 basis points. Despite the weekly decline recorded, the NGX is still trading around a 14-year high, on the back of strong earnings reports and increased local participation.
During the trading week, 37 equities appreciated in price during the week, lower than 50 equities in the previous week. Also, during the week, 42 equities depreciated in price, higher than the 32 equities in the previous week. 77 equities remained unchanged higher than 74 equities recorded in the previous week.
What you should know
McNichols Consolidated is a manufacturing firm that packages and markets a range of fortified sugar products in Nigeria. This includes granulated sugar, cube sugar, icing sugar and baking sugar. The company also produces a range of chocolate powder and custard powder.
The rally in its share price came after the company updated its dividend announcement to include the issue of share bonuses to its shareholders.
At the beginning of April, the company announced that it was only proposing a dividend of N0.03 for every share of N0.50. However, After the company’s board meeting on the 27th of April 2022, the board voted to approve a bonus issue to add to its dividend proposal.
This means that shareholders who own the stock by the qualification date, slated on the last day of June 2022, will not only be entitled to a N0.03 dividend, but also six additional shares for every five shares owned by that time.
Also weighing in on the bullish sentiment is the company’s stellar first-quarter performance that showed promise for the company’s future.
The company was able to grow its revenue by 33.72% from N162 million to N218 million Year-on-Year. Despite the increased cost of sales and selling, marketing and administrative expense in the first quarter of 2022, the company was able to increase its profit before tax by 20.16%.
Because the company recorded N3.8 million for other comprehensive income, it put the company’s profit after tax (PAT) at N11 million, up by 74.70%.
During the trading week, we saw a spike in the volume of MCNICHOLS shares, with more shares changing hands than average. The highest volume during the trading week was posted on the last trading day, Friday, as it recorded a volume of 3.94 million.
Also on Friday, its share price traded at a 52-week high of N2.13 as it gained 9.79% on the trading day in question. In fact. Its share price gained over 9% for all five trading days for the week, continuing the trend from the previous trading week. It has now posted over 9% gains in the last nine trading sessions.
MCNICHOLS began the year with a share price of N0.77 and has since gained approximately 177% on that price valuation, ranking 4th on the NGX in terms of year-to-date performance.
MCNICHOLS is the 100th most traded stock on the Nigerian Stock Exchange over the past three months. It has traded a total volume of 6.69 million shares, in 172 deals, valued at N11.3 million over the period, with an average of 106,180 traded shares per session.
In what turned out to be a bearish week for the NGX, McNichols share price still posted gains of 58.96% last week, leading the top gainers of the trading week for the second consecutive week, as investors are still reacting bullishly to an updated corporate announcement that sees them not only get a N0.03 dividend but also bonus issues of shares.
In the last four weeks, we have seen MCNICHOLS gain over 200% to currently stand at N2.13 per share. Its market capitalization currently stands at N695,871,000.00, also gaining approximately 60%, for the trading week.
MCNICHOLS is the top performer in what turned out to be a marginally bearish week for the Nigerian Exchange, as its All-Share Index lost 0.22% to currently stand at 52,979.96 basis points. Despite the weekly decline recorded, the NGX is still trading around a 14-year high, on the back of strong earnings reports and increased local participation.
During the trading week, 37 equities appreciated in price during the week, lower than 50 equities in the previous week. Also, during the week, 42 equities depreciated in price, higher than the 32 equities in the previous week. 77 equities remained unchanged higher than 74 equities recorded in the previous week.
What you should know
McNichols Consolidated is a manufacturing firm that packages and markets a range of fortified sugar products in Nigeria. This includes granulated sugar, cube sugar, icing sugar and baking sugar. The company also produces a range of chocolate powder and custard powder.
The rally in its share price came after the company updated its dividend announcement to include the issue of share bonuses to its shareholders.
At the beginning of April, the company announced that it was only proposing a dividend of N0.03 for every share of N0.50. However, After the company’s board meeting on the 27th of April 2022, the board voted to approve a bonus issue to add to its dividend proposal.
This means that shareholders who own the stock by the qualification date, slated on the last day of June 2022, will not only be entitled to a N0.03 dividend, but also six additional shares for every five shares owned by that time.
Also weighing in on the bullish sentiment is the company’s stellar first-quarter performance that showed promise for the company’s future.
The company was able to grow its revenue by 33.72% from N162 million to N218 million Year-on-Year. Despite the increased cost of sales and selling, marketing and administrative expense in the first quarter of 2022, the company was able to increase its profit before tax by 20.16%.
Because the company recorded N3.8 million for other comprehensive income, it put the company’s profit after tax (PAT) at N11 million, up by 74.70%.
During the trading week, we saw a spike in the volume of MCNICHOLS shares, with more shares changing hands than average. The highest volume during the trading week was posted on the last trading day, Friday, as it recorded a volume of 3.94 million.
Also on Friday, its share price traded at a 52-week high of N2.13 as it gained 9.79% on the trading day in question. In fact. Its share price gained over 9% for all five trading days for the week, continuing the trend from the previous trading week. It has now posted over 9% gains in the last nine trading sessions.
MCNICHOLS began the year with a share price of N0.77 and has since gained approximately 177% on that price valuation, ranking 4th on the NGX in terms of year-to-date performance.
MCNICHOLS is the 100th most traded stock on the Nigerian Stock Exchange over the past three months. It has traded a total volume of 6.69 million shares, in 172 deals, valued at N11.3 million over the period, with an average of 106,180 traded shares per session.
So, how is he getting ready for this? He performs a number of things that appear to be applicable to my own investment strategy. To begin with, he always has cash on hand. This can come in handy if you're looking for discount shares in a fire sale.
Another Warren Buffett strategy is to invest in industries that are likely to experience long-term demand despite unforeseen catastrophes. From insurance to freight railways, he prefers to invest in companies that have strong customer demand regardless of what else is going on in the world.
He also favors investing in companies with well-known brands, such as Coca-Cola. If expenses rise due to inflation, a commodity-selling business cannot raise prices higher than competitors without risking losing customers. However, there is only one Coke – or Fanta – available. A strong brand can help a company preserve earnings during difficult economic times by giving it pricing power.
Another Warren Buffett strategy is to invest in industries that are likely to experience long-term demand despite unforeseen catastrophes. From insurance to freight railways, he prefers to invest in companies that have strong customer demand regardless of what else is going on in the world.
He also favors investing in companies with well-known brands, such as Coca-Cola. If expenses rise due to inflation, a commodity-selling business cannot raise prices higher than competitors without risking losing customers. However, there is only one Coke – or Fanta – available. A strong brand can help a company preserve earnings during difficult economic times by giving it pricing power.
*Meetings for the Next Three Weeks*
_(May 23-June 10; *M-F*)_
*This Week; May 23-27*
*Tuesday, May 24*
• May 24, UPDC (AGM) *(P)* at Asian Hall, Festival Hotel, Festac Town, Lagos....10am. Prop Div....Nil, CDR....May 3-10. Reg; *African Prudential*
• May 24, 11 Plc (AGM) *P)* at Transcorp Hotel, Abuja....11am. Prop Div....N8.50, PD....May 25, QD...Apr 22, CDR....Apr 25-29. Reg; *GTL*.
• May 24, Meyer (AGM) *(P)* at Westwood Hotels, Awolowo Way, Ikoyi, Lagos....11am. Prop Div....Nil, CDR.....Apr 25-29. Reg; *GTL*
• May 24, Capital Hotel (AGM) *(P)* at Sheraton Hotel, Abuja....12 Noon. Prop Div....Nil, CDR.....May 9-13. Reg; *CardinalStone*
*Wednesday, May 25*
• May 25, NCR (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....Nil, CDR.....May 9-13. Reg; *Apel*.
• May 25, ETI (AGM) *(O)* at Abidjan Cote d' Ivoire....10am (GMT). Prop Div....0.16 Cent, PD....July 6, QD....June 3, CDR....June 6-10. Reg; *GTL*.
• May 25, Okomu (AGM) *(P)* at Harbour Point Event Center, V/I, Lagos....11am. Prop Div....N8.00, PD...May 25, QD....Apr 22, CDR...Apr 25. Reg; *Cardinalstone*
*Thursday, May 26*
• May 26, Ellah Lakes (EGM) *(O)* at the Workstation, 7, Ibiyinka Olorunbe Close, V/I, Lagos.....11am. CDR....May 9-13. Reg; *Cardinalstone*
• May 26, NPF MFB (AGM) *(O)* at Muson Center, Onikan, Lagos.....11am. Prop Div....10k, PD....May 26, QD....May 6, CDR....May 9-13; Bon....1 for 9, QD....May 27, CDR....May 30-June 2. Reg; *CardinalStone*
• May 26, Stanbic IBTC (AGM) *(O)* at Eko Hotel, V/I, Lagos....10am. Prop Div....200k, PD....May 27, QD....Apr 13, CDR....Apr 14-21. Reg; *First*
• May 26, Resourcery (AGM) *(P)* at 17/19, Idowu Taylor Street, V/I, Lagos....10am. Prop Div....Nil, CDR...May 16. Reg; *Crescent*
• May 26, GSK (AGM) *(P)* at GSK House, Industrial Avenue, Ilupeju, Lagos. Prop Div....45k, PD...May 27, QD....Apr 22, CDR...Apr 25-May 5. Reg; *GTL*
• May 26, Friesland Wamco (AGM) *(P)* at Sheraton Hotel, Ikeja, Lagos...10am. Prop Div....N4.23k, PD.... May 27, QD...Apr 28, Bon...1 for 1, CDR....Apr 29-May 5. Reg; *First*
• May 26, Prestige Assurance (AGM) *(P)* at Radisson Blu, Ozumba Mbadiwe, V/I, Lagos....12 Noon. Prop Div....1½k, PD....May 27, QD....May 20, CDR....May 23-27. Reg; *First*
• May 26, Caverton Offshore (AGM) *(P)* at Caverton Aviation Training Center, Murtala Mohammed Intl Airport, Ikeja, Lagos....11am. Prop Div....Nil, CDR....May 8-12. Reg; *Coronation*
*Friday, May 27*
• May 27, AIICO (AGM) *(P)* at Radisson Blu Hotel, Ikeja, Lagos....12 Noon. Prop Div...2k, PD....May 30, QD....May 20, CDR....May 23-27. Reg; *Coronation*
*Next Week; May 30-June 3*
*Tuesday, May 31*
• May 31, VFD Group (AGM) *(P)* at Radisson Blu, V/I, Lagos.....11am. Prop Div....N10.79, PD....May 31, QD.....May 13, CDR....May 16-20, Bonus...1 for 2. Reg; *African Prudential*
*Thursday, June 2*
• June 2, LTMB (AGM) *(P)* at Banquet Hall, Aenon Suites, No. 1, Femi Adefila Crescent, GRA, Osogbo, Osun State....11am Prop Div.....6k, PD....June 6, QD....May 13, CDR....May 16-20. Reg; *African Prudential*
• June 2, Multiverse (AGM) *(P)* at Company H/O, 195A,
Corporation Drive, Dolphin Estate,
Ikoyi, Lagos....11am. Prop Div...Nil, CDR....N/A. Reg; *Carnation*
• June 2, May & Baker (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....30k, PD...June 3, QD....May 17, CDR...May 18-20. Reg; *Veritas*
• June 2, Pharmadeko (AGM) *(P)* at Palmgroove House, 1, Shagamu Avenue, Ilupeju, Lagos....12 Noon. Prop Div....Nil, CDR....May 9-13. Reg; *APEL*
• June 2, Regency Alliance (AGM) *(P)* at The Zone, Plot 9, Gbagada Expressway, Gbagada, Lagos....11am. Prop Div....Nil, CDR...May 16-21. Reg; *Meristem*
*Friday, June 3*
• June 3, NASCON (AGM) *(P)* at Civic Center, V/I, Lagos....11am. Prop Div...40k, PD....June 6, QD...May 5, CDR....May 6. Reg; *Meristem*
*Following Week; June 6-June 10*
*Tuesday, June 7*
• June 7, CHI (AGM) *(P)* at Four Points by Sheraton, Oniru, Lagos...11am. Prop Div....2k, PD....June 7, QD....May 13, CDR....May 16-20. Reg; *Meristem*
*Wednesday, June 8*
• June 8, Jaiz Bank (AGM) at ????. Prop Div....4k, PD....June 8, QD....May 26, CDR.....May 27-June 2. Reg; *African Prudential*
_(May 23-June 10; *M-F*)_
*This Week; May 23-27*
*Tuesday, May 24*
• May 24, UPDC (AGM) *(P)* at Asian Hall, Festival Hotel, Festac Town, Lagos....10am. Prop Div....Nil, CDR....May 3-10. Reg; *African Prudential*
• May 24, 11 Plc (AGM) *P)* at Transcorp Hotel, Abuja....11am. Prop Div....N8.50, PD....May 25, QD...Apr 22, CDR....Apr 25-29. Reg; *GTL*.
• May 24, Meyer (AGM) *(P)* at Westwood Hotels, Awolowo Way, Ikoyi, Lagos....11am. Prop Div....Nil, CDR.....Apr 25-29. Reg; *GTL*
• May 24, Capital Hotel (AGM) *(P)* at Sheraton Hotel, Abuja....12 Noon. Prop Div....Nil, CDR.....May 9-13. Reg; *CardinalStone*
*Wednesday, May 25*
• May 25, NCR (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....Nil, CDR.....May 9-13. Reg; *Apel*.
• May 25, ETI (AGM) *(O)* at Abidjan Cote d' Ivoire....10am (GMT). Prop Div....0.16 Cent, PD....July 6, QD....June 3, CDR....June 6-10. Reg; *GTL*.
• May 25, Okomu (AGM) *(P)* at Harbour Point Event Center, V/I, Lagos....11am. Prop Div....N8.00, PD...May 25, QD....Apr 22, CDR...Apr 25. Reg; *Cardinalstone*
*Thursday, May 26*
• May 26, Ellah Lakes (EGM) *(O)* at the Workstation, 7, Ibiyinka Olorunbe Close, V/I, Lagos.....11am. CDR....May 9-13. Reg; *Cardinalstone*
• May 26, NPF MFB (AGM) *(O)* at Muson Center, Onikan, Lagos.....11am. Prop Div....10k, PD....May 26, QD....May 6, CDR....May 9-13; Bon....1 for 9, QD....May 27, CDR....May 30-June 2. Reg; *CardinalStone*
• May 26, Stanbic IBTC (AGM) *(O)* at Eko Hotel, V/I, Lagos....10am. Prop Div....200k, PD....May 27, QD....Apr 13, CDR....Apr 14-21. Reg; *First*
• May 26, Resourcery (AGM) *(P)* at 17/19, Idowu Taylor Street, V/I, Lagos....10am. Prop Div....Nil, CDR...May 16. Reg; *Crescent*
• May 26, GSK (AGM) *(P)* at GSK House, Industrial Avenue, Ilupeju, Lagos. Prop Div....45k, PD...May 27, QD....Apr 22, CDR...Apr 25-May 5. Reg; *GTL*
• May 26, Friesland Wamco (AGM) *(P)* at Sheraton Hotel, Ikeja, Lagos...10am. Prop Div....N4.23k, PD.... May 27, QD...Apr 28, Bon...1 for 1, CDR....Apr 29-May 5. Reg; *First*
• May 26, Prestige Assurance (AGM) *(P)* at Radisson Blu, Ozumba Mbadiwe, V/I, Lagos....12 Noon. Prop Div....1½k, PD....May 27, QD....May 20, CDR....May 23-27. Reg; *First*
• May 26, Caverton Offshore (AGM) *(P)* at Caverton Aviation Training Center, Murtala Mohammed Intl Airport, Ikeja, Lagos....11am. Prop Div....Nil, CDR....May 8-12. Reg; *Coronation*
*Friday, May 27*
• May 27, AIICO (AGM) *(P)* at Radisson Blu Hotel, Ikeja, Lagos....12 Noon. Prop Div...2k, PD....May 30, QD....May 20, CDR....May 23-27. Reg; *Coronation*
*Next Week; May 30-June 3*
*Tuesday, May 31*
• May 31, VFD Group (AGM) *(P)* at Radisson Blu, V/I, Lagos.....11am. Prop Div....N10.79, PD....May 31, QD.....May 13, CDR....May 16-20, Bonus...1 for 2. Reg; *African Prudential*
*Thursday, June 2*
• June 2, LTMB (AGM) *(P)* at Banquet Hall, Aenon Suites, No. 1, Femi Adefila Crescent, GRA, Osogbo, Osun State....11am Prop Div.....6k, PD....June 6, QD....May 13, CDR....May 16-20. Reg; *African Prudential*
• June 2, Multiverse (AGM) *(P)* at Company H/O, 195A,
Corporation Drive, Dolphin Estate,
Ikoyi, Lagos....11am. Prop Div...Nil, CDR....N/A. Reg; *Carnation*
• June 2, May & Baker (AGM) *(P)* at Muson Center, Onikan, Lagos....11am. Prop Div....30k, PD...June 3, QD....May 17, CDR...May 18-20. Reg; *Veritas*
• June 2, Pharmadeko (AGM) *(P)* at Palmgroove House, 1, Shagamu Avenue, Ilupeju, Lagos....12 Noon. Prop Div....Nil, CDR....May 9-13. Reg; *APEL*
• June 2, Regency Alliance (AGM) *(P)* at The Zone, Plot 9, Gbagada Expressway, Gbagada, Lagos....11am. Prop Div....Nil, CDR...May 16-21. Reg; *Meristem*
*Friday, June 3*
• June 3, NASCON (AGM) *(P)* at Civic Center, V/I, Lagos....11am. Prop Div...40k, PD....June 6, QD...May 5, CDR....May 6. Reg; *Meristem*
*Following Week; June 6-June 10*
*Tuesday, June 7*
• June 7, CHI (AGM) *(P)* at Four Points by Sheraton, Oniru, Lagos...11am. Prop Div....2k, PD....June 7, QD....May 13, CDR....May 16-20. Reg; *Meristem*
*Wednesday, June 8*
• June 8, Jaiz Bank (AGM) at ????. Prop Div....4k, PD....June 8, QD....May 26, CDR.....May 27-June 2. Reg; *African Prudential*