Custodian Investment Plc pays ₦0.55k per share final dividend as Bears reopen Week

Custodian Investment Plc is paying a final dividend of ₦0.55k per ₦0.50k share for FY:2022, which brings the total dividend for FY:2022 to ₦0.65k, to shareholders whose names are in the register as of the 31st of March 2023. Meanwhile the Stock Market opened the trading week on a bearish note as price decline in STANBIC (-8.5%), NB (-3.1%), and FCMB (-3.6%) dragged the benchmark index lower by 10bps to 54,886.04 points. Nonetheless, YTD return remained unchanged at 7.1% while market capitalisation shed ₦16.0bn to ₦29.9tn. Meanwhile, activity level improved as volume and value traded rose 646.5% and 83.8% respectively to 1.2bn units and ₦2.9bn.

Across sectors, performance was mixed as 2 indices lost, 2 gained while the AFR-ICT and Oil & Gas indices closed flat. Losses in WAPIC (-9.5%), SOVRENIN (-3.6%), NB (-3.1%) and DANGSUGAR (-0.5%) dragged the Insurance and Consumer Goods indices lower by 0.5% and 0.4% respectively. On the flipside, the Banking and Industrial Goods indices gained 1.3% and 0.1% sequentially courtesy of buy interest in ZENITH (+0.6%), UBA (+0.6%), WAPCO (+1.2%), and CUTIX (+5.7%).

Investor sentiment, as measured by market breadth, waned to 0.07x (previously 0.11x) as 19 stocks gained, 14 lost while 73 closed flat. In the next trading session, we expect bargain hunting activities to drive mild gains on the local bourse.

Find below key highlights of market activities

Dividend Information for 2023