The Nigerian Exchange (NGX) in the month of May posted a 0.54 and 0.10 per cent growth respectively in the volume and value of stocks traded. In comparison with its performance in the previous month of April. The market traded stocks worth 178,992 in deals and 9.126bn and N173.28bn in volume and value. Similarly, the market capitalization showed 1.12 per cent growth for the month of May opening at 55.53trn to close at 56.17trn at 32.80 per cent year to date.

The unveiling of corporate initiatives such as those from listed companies, along with the Central Bank of Nigeria’s announcement of a new recapitalization effort, has not generated sufficient enthusiasm for capital market returns, particularly when competing markets offer superior yields. In the month under review however, TANTALIZER topped the best stock with maximum price return yield and PZ was the least performed stock.

Notable Happenings

1. An additional 402,082,657 ordinary shares of 50 Kobo each per share of Cadbury Nigeria Plc were on Thursday, 16 May 2024, listed on the Daily Official List of Nigerian Exchange Limited (NGX). The supplementary shares introduced to the NGX resulted from Cadbury’s conversion of a N7,036,446,501.26 intercompany loan into equity. The total issued and fully paid-up shares of Cadbury has now increased from 1,878,201,962 to 2,280,284,619 ordinary shares of 50 Kobo each with the listing of the additional 402,082,657 ordinary shares.
2. Suspension in Trading of the Shares of Arbico Plc: Trading License Holders and the investing public are hereby informed that trading in Arbico Plc’s shares was suspended on Friday, May 17, 2024. This suspension is imperative to halt trading in the Company’s shares as part of the preparations for the delisting of the Company’s securities, following approval obtained from the Nigerian Exchange Limited.
3. The Central Securities Clearing System has improved by 65.2 per cent to N19bn in 2023 from the previous year. This was disclosed at the company’s 30th annual general meeting on Friday in Lagos. The company made N11.2bn profit before taxes in 2023, an 84.2 per cent rise from N6.1bn in the prior year. Following shareholders’ approval, CSCS will pay N7.5bn dividend to shareholders, an increase from N6.85bn paid out in the previous year, translating to a dividend of N1.50 per share.

Click here for the list of dividends declared so far
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