The Directors of Seven-Up Bottling Plc recommend to shareholders the payment of a dividend of =N=1,024,944,581 representing =N=1.60 per share for the trading year ended March 31, 2016.
As reported on Page 38 of BUSINESSDAY's issue of Wednesday June 22, 2016, Nigerian stocks Tuesday ended near an eight-month high as investors renewed interest in shares after the CBN floated the naira to lift currency curbs earlier viewed as harming investment and helping cause to economy to contract.
After Monday's profit taking activity, Nigerian stocks moved northwards with =N=224billion gain. The Nigerian Stock Exchange (NSE) All Share Index (ASI) increased by 2.27% while the Year-To Date (YTD) return stood at 2.72%.
The ASI closed at 29,422.71 points against the preceding day close of 28,769.90 points while market capitalisation closed at =N=10.105 trillion against the preceding day close of =N=9.881 trillion.
As published in today's ( June 16, 2016 ) BUSINESSDAY the Central Bank of Nigeria ( CBN ) has announced that the bank would begin market-driven foreign currency trading next week, abandoning its 16-month fixed exchange rate policy. This has led to a rise in stocks prices and a fall in bond yields.
The Naira which had been pegged at =N=197 to =N=199 closed stable yesterday at =N=365 and =N=367 against the greenback at the autonomous and parallel markets respectively.
Analysts see this as bolstering investors' confidence in the country's stock market as the flow of liquidity will ease the pains of both quoted companies and their investors.
As reported on the front page of BUSINESSDAY issue of Monday June 13, 2016, The Nigerian Stock Exchange (NSE) will be adding a third major sector after financials such as banks and industrial names like Dangote Cement, once MTN Nigeria lists its shares.
Analysts say this will help balance the Nigerian bourse, give investors options for sector rotation and reduce the volatility associated with a single name moving up and down the market index.
The notice by MTN to list its Nigerian unit is expected to bring benefits for all as MTN will create new investors for its stock, and will now also share its prosperity with its customers who will now become investors.