MTN allocates N665.2m bonus shares as NGX All-Share Index closes up, gains 0.35%

MTN Nigeria Communications Plc has 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 the stock market bounced back, as the benchmark index closed at 55,801.14 points. Increased investor interest in DANGCEM (+1.79%) and MTNN (+0.60%) offset the selloffs in WAPCO (-1.49%) and FBNH (-0.89%). Consequently, the year-to-date (YTD) rose to 8.88%, while the market capitalization gained  ₦107.43bn to close at ₦30.40trn.

Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 44.31%. A total of 152.74m shares valued at ₦3.57bn were exchanged in 3,293 deals. UBA (-1.75%) led the volume chart with 15.00m units traded while DANGCEM (+1.79%) led the value chart in deals worth ₦2.09bn.
Market breadth closed positive at a 1.07-to-1 ratio with advancing issues outnumbering declining ones. CUTIX (+8.50%) topped fourteen (14) others on the leader’s table while CHAMS (-7.41%) led thirteen (13) others on the laggard’s log.

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation Research

Find below key highlights of market activities

Dividend Information for 2023

Source: Coronation Research