CORPORATE NEWS: ZENITH BANK, TIGER BRANDED; UBA

NEW DIRECTORS FOR ZENITH BANK.
Two new non-executive directors have been appointed to the board of Zenith Bank PLC subject to the approval of the Central Bank of Nigeria
They are Professor Oyewusi Ibidapo-Obe, and Mr Gabriel Ita Asuquo Ukpeh.
Professor Ibidapo-Obe was until February 15 2016, the Vice Chancellor of Federal University Ndufu-Alike Ikwo Ebonyi state. He was also a full VC of the University of Lagos and holds a doctorate in civil engineering with specialisation in applied mechanics/systems from University of Waterloo Ontario, Canada
Mr Ukpeh was until recently partner/risk leader for Africa at Pricewaterhousecoopers (PWC). He is a fellow of the Chartered Institute of Accountants of Nigeria (ICAN) and an acclaimed consultant in business strategy process engineering.
Meanwhile, Zenith bank is to pay 155 kobo per share final dividend on April 4 once approved by shareholders at annual general meeting scheduled for the same date at Banquet Hall Civic Centre Victoria Island.
TWO DIRECTORS RESIGN FROM TIGER BRANDED CONSUMER GOODS
Tiger Branded Consumer Goods PLC has announced the resignation of two directors from its board with effect from February 25 this year.
In a notice to the stock market signed by its company secretary/legal adviser, Mrs  Aisha L Isa the two directors are Mrs Olufunke Ighodaro and Mr Noel Doyle.
UBA DECLARES DIVIDEND
In spite of the tough times experienced by banking and finance in Nigeria in 2015, United Bank For Africa (UBA)  has announced that the directors have recommended 40kobo per share dividend.
The recommendation is to be tabled at the company's annual general meeting for shareholders approval. The meeting comes up April 8, at Eko Hotel & Suites, Victoria Island.
If approved, the dividend will be paid to shareholders by April 12,

Comments

Post a Comment

Popular posts from this blog

2018: TWO BLOWS TO UNITED CAPITAL PLC.

When a child who in a previous examination scored 80%, comes home with a new report in which he now scores 67.2%, the parents have a right to sit him down and ask how come. So it must be between Nigeria's United Capital Plc and its discerning shareholders since the release of the company's 2018 audited figures. In 2018, all said and done, says the annual report, United Capital ended with 67.2 % profit margin compared to 80.2% in 2017. How come? What comes across from the figures was that the company received 2 blows to the jugular in 2018: Sharp drops in Investment income and fair value gain. Investment income dropped by 10.8% to N4422.8m from N4965.2m while fair value on financial assets plunged by 79.7% to N6.173m from 2017's N30.387m. In view of both drops, the group's gross earnings grew by only 33.9% to N9259.4m despite strong growths in net trading income, and net operating income leap to N757.5m from N143.5m  Other income streams ended with single digit increase....
Read more

KENYA AUCTIONS Ksh 13.84bn Treasury Bonds.

The Central Bank of Kenya (CBK) will from Tuesday December 18 to 27th 2018_ auction Ksh 13.84bn worth of fixed income Treasury Bonds with issue date December 17, 2018. According to official statement from the Director of Financial Markets Irene Njiru on Monday December 17, auction will continue throughout the stated period or close once the target money to be raised is reached, whichever comes first. Bid value will be paid for at most by 2pm December 31, 2018 while auction results will be made public on December 28, 2018 after the scheduled closing date. The bonds are being issued at 12.502% fixed interest at an adjusted average price of Ksh 100.468 for Ksh 100 bond. However, price payable after auction results publication will be average of successful bid prices based and allotment will be on first come first served basis. Meanwhile, the monetary operations and debt management department has released the interest payment schedule for 13 Treasury Bonds due January and February 2019. Th...
Read more

NAIROBI SE's HIGH PRICED EQUITIES.

In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too. Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value. A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this. On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly. Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued. Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.0...
Read more