MTN Nigeria Communications Plc (“MTNN” or the “Company”) today informed the investing public of the successful allotment of incentive shares to qualified shareholders after ratification by the Securities Exchange Commission (SEC). The offer included an incentive of one ordinary share for every twenty ordinary shares purchased and allotted up to a maximum of two hundred and fifty ordinary shares. Consequently, 3,997,418 ordinary shares of MTN Nigeria worth ₦665.23 million have been credited to qualified shareholders in line with MTN Nigeria ambition of creating shared value. Also, Africa Prudential Plc announced a final dividend of ₦0.50k per ₦0.50k share for FY:2022 to shareholders whose names are in the register as of the 14th of April 2023.
Meanwhile, at the stock market saw a positive performance as the NGX-ASI gained 0.4% to close at 55,801.14 points due to buying interest in DANGCEM (+1.8%), MTNN (+0.6%), and GTCO (+0.8%). As a result, YTD return improved to 8.9% (previously: 8.5%) while market capitalisation gained ₦107.4bn to ₦30.4tn. Meanwhile, activity level varied as volume traded contracted by 4.2% to 152.7m units while value traded rose 44.3% to ₦3.6bn.
Performance across sectors within our coverage was positive as 4 indices gained while 2 lost. The Industrial Goods and AFR- ICT indices led the gainers, up 0.8% and 0.3% respectively due to buying interest in DANGCEM (+1.8%), CUTIX (+8.5%), and MTNN (+0.6%). The Insurance and Banking indices advanced 0.2% and 0.1% respectively on account of price appreciation in CORNERST (+3.7%), LINKASSURE (+4.4%), and ZENITH (+0.2%). On the flip side, the Oil & Gas and Consumer Goods indices shed 0.9% and 0.1% respectively due to price decline on ARDOVA (-6.2%), MRSOIL (-10.0%), UNILEVER (-2.2%) and DANGSUGAR (-0.5%).
Investor sentiment, as measured by market breadth, improved to 0.00x from -0.15x in the prior session as 18 stocks advanced, 18 declined while 74 closed flat. In tomorrow’s trading session, we anticipate a positive performance driven by improved sentiment.
Find below key highlights of market activities
| Indicators | Current | Change (%) | YTD |
| All-Share Index | 55,788.37 | -0.01 | 8.85 |
| Market Cap. (₦ ‘trillion) | 30.39 | -0.01 | 8.87 |
| Volume (millions) | 179.03 | -35.14 | |
| Value (₦ ‘billion) | 2.55 | -70.36 |
Dividend Information for 2023
| Company | Dividend (Bonus) | Closure Date | Payment Date |
| BUACEMENT | ₦2.80 (final) | 11-Aug-23 | 24-Aug-23 |
| NESTLE | ₦36.50 (final) | 28-Apr-23 | 18-May-23 |
| SEPLAT | $0.075 (final) | 19-Apr-23 | 10-May-23 |
| WAPCO | N2.00 (final) | 11-Apr-23 | 28-Apr-23 |
| NB | N1.03 (final) | 17-Mar-23 | 26-Apr-23 |
| DANGCEM | ₦20.00 (final) | 31-Mar-23 | 24-Apr-23 |
| MTNN | ₦10.00 (final) | 28-Mar-23 | 20-Apr-23 |
| DANGSUGAR | ₦1.50 (final) | 27-Mar-23 | 15-Apr-23 |
| GEREGU | ₦8.00 (final) | 28-Feb-23 | 29-Mar-23 |
