Friesland Campina Wamco Nigeria Plc announces AGM, proposes dividend of N6.74 per share.

The Board of Friesland Campina Wamco Nigeria Plc has announced that it will host its Annual General Meeting (AGM) on the 6th of May, 2021.

According to a notice made available on the website of NASD Plc, the AGM will take place at Sheraton Lagos Hotels, Ikeja-Lagos by 11:00 am.

The AGM will among other things deliberate on a proposed dividend of N6.74k per share offered to shareholders. Details about the proposed dividend are succinctly captured below;

  • Closure of Register: Friday, April 23, 2021 to Thursday, April 29, 2021 (both dates inclusive)
  • Qualification Date: Thursday, April 22, 2021
  • Proposed Dividend: ₦6.74K
  • Payment Date: Friday, May 7, 2021.

What you should know:

  • Friesland Campina Wamco Nigeria Plc had earlier announced a profit of N8.8 billion in its unaudited interim FY 2020 results.
  • The firm currently has a total of 976,336,000 units of tradable securities in issue and a market capitalization of approximately N124 billion.

For more information about the AGM, click HERE

ETI appoints Akin Dada as Group Executive, Corporate & Investment banking.

Ecobank Transnational Incorporated (ETI), parent company of Ecobank Group has announced the appointment of Akin Dada as Group Executive, Corporate and Investment Banking.

This is according to a press release made available on the Group’s website and seen by Nairametrics.

With the recent appointment, Mr Akin is set to take the helm of affairs from Amin Manekia (his predecessor) who retired in 2020.

Profile:

Akin is a banking expert with over three decades of experience in client coverage, strategic transaction initiation, and advisory dialogues. He joined Ecobank in 2017 as the Executive Director for Corporate Bank in Nigeria, after a long spell with Citigroup Cameroon where he spent twenty six years.

It is also pertinent to note that until his recent appointment, he was the Group Head, Corporate Banking for the Ecobank Group. He is an alumnus of the University of Ibadan and University of Warwick, UK where he obtained a B.Sc. degree in Political Science and an MBA respectively.

What they are saying: Commenting on his appointment, the CEO of Ecobank Group, Ade Adeyemi said: ‘Akin’s valuable and varied experience over many years in corporate banking as well as his broader knowledge of banking, credit and risk management position him appropriately to lead our Corporate and Investment Bank. There are huge opportunities for the Ecobank Group with the implementation of the AfCFTA, which heralds burgeoning demand for trade finance, advisory services and cross-border payments.”

Details about the appointment is available HERE

Union Homes REIT proposes final dividend worth N465.03 million for shareholders.

The Board of Directors of Union Homes Real Estate Investment Trust Plc has proposed a final distribution of N1.86 for every  unit held, amounting to a total of N465.03 million for the year ended 2020.

This is according to a disclosure made available on the website of the Nigerian Stock Exchange (NSE), as seen by Nairametrics.

According to the notice, the proposed dividend will be paid electronically to qualified unit holders on the 4th of May, 2021. Qualified shareholders are those, whose names appear in the Register of member as at the close of business on 14th of April, 2021. Other qualifying conditions are;

  • Unit holders must have completed the e-distribution registration.
  • Unit holders must have mandated the Registrar (Greenwich Registrars and Data Solutions Limited) to pay their distribution directly into their bank accounts.

On the other hand, the firm disclosed that there is no proposed bonus for the aforementioned period.

What you should know:

  • Union Homes Real Estate Investment Trust (REIT) is an actively-managed, close-ended Unit Trust Scheme geared towards achieving long-term capital appreciation through real estate investments such as rental properties, mortgage assets etc..
  • The firm had earlier posted a profit after tax of N389.7 million in FY 2020.
  • The qualification date is 14th of April, hence Register of unit holders will be closed from 15th to 16th of April, 2021.

 

For more information about the disclosure, click HERE

GT Bank Plc holds FY 2020 investors presentation.

Guaranty Trust Bank Plc held its FY 2020 results presentation to investors and analysts. Below are the facts to the figures;

  • The bank recorded a customer base of over 21.9 million as at the end of FY 2020.
  • A total of 24,115 active POS terminals, 1,366 ATMs, 575 million unique transactions, and 5.43 million active cards were recorded during the period under review.
  • Operating expenses totalled N131 billion (+12.6% YoY). The increase was largely driven by surge in regulatory charges, administrative charges and depreciation expenses, among others.
  • A breakdown of its gross loans by industry showed that Upstream Oil and Gas, Manufacturing and Midstream oil and gas emerged in the top three with an allocation of 29%, 19% and 14% respectively. On the other hand, Education, Agriculture and Downstream Oil and Gas appeared in the bottom three with an allocation of 1% to the aforementioned sectors.
  • The bank maintained a strong liquidity position with a ratio of 38.9% as at FY 2020. A figure well above the regulatory minimum of 30%.
  • Cost to Income ratio of 36.11% Vs 38.2% YoY.
  • In terms of diversity, out of its 6,637 employees, 54.6% are male while 45.4% are female.

For more information about the investors’ presentation, click HERE.

Cornerstone Insurance Plc notifies stakeholders of late submission of financial statements.

The Management of Cornerstone Insurance Plc has notified stakeholders of its inability to meet up with the time frame earmarked for the submission of its Audited Financial Statements for the year ended December 31, 2020, as well as the Unaudited Financial Statements for the period ending March 31, 2021.

This is according to information available on the website of the Nigerian Stock Exchange, as seen by Nairametrics.

The company attributed the failure to file its audited accounts by the due date of 31st March, 2021 to the delay encountered in completing the actuarial valuation audit review. It also explained that due to this failure, it won’t be able to proceed with the submission of its unaudited financial statements for Q1 2021 within the regulatory date of 30th of April, 2021.

Sequel to this, the firm assured that its audited financial statements will be submitted to The Exchange subject to the finalization of its audit review and approval by its primary regulator- NAICOM.

For more information about the disclosure, click HERE.

NSE approves delisting of 11 Plc shares.

Following an application to the Nigerian Stock Exchange (NSE) on the voluntary delisting of 11 Plc (formerly known as Mobil Oil Nigeria Plc), the NSE has approved the delisting application.

According to the NSE, the application was ratified subject to 11 Plc’s evidence of opening an escrow account in the registrar’s name and evidence that the shareholders who have accepted to exit have been paid.

The company had opened an escrow account with GTL Registrars and Data Solutions Limited and provided sufficient funds to shareholders, who as of March 15, 2021, have accepted the ‘Exit Consideration’ of N213.90 per share. The Exit Consideration is based on the highest price of N213.90 at which 11 Plc traded in the last 6 months preceding the date of the Annual General Meeting, where the decision to delist was passed in line with NSE guidelines.

The oil firm noted that the delisting process will enable it to strategize for better performance, minimize costs and stay competitive within the industry.

What you should know:

  • 11 Plc is a Nigerian-based petroleum products marketer which got listed on the Nigerian Stock Exchange in 1978. This implies that the firm has spent about 43 years on the Exchange.
  • The firm had earlier explained that the decision to voluntarily delist was recommended by the Board of Directors and supported by at least 75% of members present during the AGM.
  • By implication, over 360.6 million units of the firm’s shares will be delisted from the daily official list of the NSE.

For more information about the disclosure, click HERE.

MTN Nigeria raises N73.5 billion from CP Issuance to finance operations.

MTN Nigeria Plc has raised a total of N73.5 billion through its Series III and Series IV CP Issuance Programme, in a bid to meet its working capital requirements and for general corporate purposes.

This is according to a disclosure issued by the telecommunication giants and signed by its secretary, Uto Ukpanah, as seen by Nairametrics.

The company revealed that as part of its strategy in diversifying its financing sources, it obtained the approval of FMDQ Securities Exchange in November 2020 to increase its CP programme from N100 billion to N200 billion. This is sequel to the success recorded in its N100 billion inaugural Series I and Series II CP Issuances in June 2020, which have been redeemed.

On the other hand, the telecommunications giant also revealed that the company has obtained the approval of the Securities and Exchange Commission to launch a Bond Issuance Programme. Sequel to this, the company will issue a 7-Year Series I fixed rate bond under a debut N200 billion bond issuance programme.

What you should know:

  • The book build for the series III and series IV CP Issuances commenced on 11th of March, 2021 and closed on 19th of March, 2021.
  • The series III and series IV CP cleared at a discount rate of 6.7652% and 7.5546% respectively.
  • A total of N19, 765,447,000 was raised through series III CP Issuance, while series IV CP Issuance generated a total of N53, 742,807,000.
  • Collectively a total of N73, 508,254,000 was raised through the issuance of both series- series III and series IV.

For more information about the disclosure, click HERE.

Jaiz Bank proposes dividend worth N884 million for shareholders.

The Board of Directors of JAIZ Bank Plc has proposed a sum of N884 million as dividend to be paid to shareholders for the period ended 31st of December 2020.

This is according to a disclosure signed by the company’s secretary, Rukayat Dahiru, and sent to the Nigerian Stock Exchange.

According to the notice, the approval of the proposed dividends will see the Non-interest bank pay out a dividend of 3 kobo for each of the outstanding 29,464,249,300 ordinary shares of the company, held by its shareholders.

Despite posting double-digit growth in most of its key financial metrics in FY 2020, such as; PAT (+19%), PBT(+45%), etc., it is pertinent to note that JAIZ Bank’s proposed dividend remained unchanged when compared with what it declared last year (FY 2019: 3 kobo)

It is also worthy to note that the proposed dividend if ratified will be disbursed to qualified shareholders’, whose names appear in the Register of Members as at close of trading on 10th of June, 2021.

In addition, shareholders are urged to complete the e-dividend registration and submit to the Registrar (Africa Prudential Plc) or their respective banks.

What you should know:

  • Jaiz Bank Plc earlier reported a profit after tax of N2.9 billion in FY 2020
  • It closed trading yesterday 8th of April, 2021 with a share price of 62 kobo

For more information about the proposed dividend, click HERE.

Access Bank Plc holds FY 2020 investors presentation.

Access Bank Nigeria Plc held its FY 2020 results presentation to investors and analysts. Below are the facts to the figures;

  • The bank recorded a surge in its customers’ base, surpassing over 40 million customers in 2020- a number that puts the bank above 47 African countries (82%) in terms of population.
  • The Bank’s Return on Equity (ROE), CAR and Tier 1 ratios stood at 15.6%, 20.6% and 15.46% respectively.
  • Of its global 6,897 professional staff in 2020, 53% are male while 47% are female.
  • It raised a total of N15 billion in green finance sequel to its launch of the first Green bond in SSA. It also spent a total of N10.25 billion in community initiatives.
  • Cost to Income ratio declined to 63.4% in FY 2020 (-2.7% YoY)
  • The Bank explained that its strong and diversified revenue growth in 2020 has been driven by expansive retail banking growth, optimizing value chain for wholesale banking customers and well-executed trading strategy among others.

For more information about the investors’ presentation, click HERE.