SEPLAT to pay dividend at N413 a dollar to shareholders, as investors lost N11.8bn

Energy Plc has said on the floor of the Stock Exchange that the exchange rates for third quarter 2021 interim dividend is ₦413.64/$1 and £0.75/$1. The exchange rate for the Naira or Pound Sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 12th November 2021. The company had earlier declared an interim dividend of $2.5 per ordinary share. Meanwhile the Stock market opened the week on a bearish note as profit taking in MTNN (-0.5%), UBA (-3.0%), and ETI (-1.7%) dragged the NGX All-Share Index lower by 0.1% to 43,230.34 points. Accordingly, market capitalisation fell ₦11.8bn to ₦22.6tn while YTD return weakened to 7.3%. Market activity faltered as volume and value traded dipped 6.8% and 7.8% respectively to 293.4m units and ₦4.3bn. FBNH (101.2m units), ACCESS (44.2m units), and FCMB (34.8m units) topped the volume chart while FBNH (₦1.2bn), MTNN (₦740.3m), and GTCO (₦507.4m) led by value.

Performance across sectors within our coverage was mixed as 3 indices gained, 2 indices lost while the Industrial Goods index closed flat. The Oil & Gas and Insurance indices gained 8bps and 6bps respectively due to buying interest in OANDO (+0.4%) and MBENEFIT (+7.4%). Trailing, the Consumer Goods index rose 5bps on the back of bargain hunting in FLOURMIL (+2.0%). Conversely, UBA (-3.0%), ETI (-1.7%), and MTNN (-0.5%) pulled the Banking and AFR-ICT indices lower by 0.4% and 0.3% respectively. 

Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.4x from 1.1x  as 20 stocks advanced while 14 stocks declined. CUTIX (+9.9%), LIVESTOCK (+9.5%), and MBENEFIT (+7.4%) led gainers while VERITASKAP (-8.7%), FTNCOCOA (-6.8%), and ROYALEX (-5.7%) led decliners. In the next trading session, we expect the market to extend the bearish performance in the absence of any positive catalyst.

Market Statistics for Monday, 15th November 2021