emmanuelewumi:
I wonder why they decided to use a lower outstanding shares. Maybe to deceive the uninformed investors

Probably the outstanding shares prior to the listing of the company's shares was used, this is wrong

SonofElElyonRet:


The results clearly say N92.25k eps

[/b]
Can someone help explain the [b]interim dividend declared for 2022 and 2023...
*why interim?
*will new shareholders who bought after listing on the stock market be entitled to both 2022 and 2023 interim dividends?

dangle:

Transcorp Power PLC was listed in March 2024 on NGX by way of introduction. Hence it was not captured in the 2023 audited report. It is an event that happened in 2024, which will be captured in their Q1 2024.

However, I feel strongly that those who have bought into it will receive the meagre dividend as long as they have bought it on or before the chosen future qualification day.

My 2 kobo understanding of the issue.

dangle:

Transcorp Power PLC was listed in March 2024 on NGX by way of introduction. Hence it was not captured in the 2023 audited report. It is an event that happened in 2024, which will be captured in their Q1 2024.

However, I feel strongly that those who have bought into it will receive the meagre dividend as long as they have bought it on or before the chosen future qualification day.

My 2 kobo understanding of the issue.

aj8:


The results are for year end 31st December 2023. Interim because the decision was taken before the end of year 2023. Actually on 18th December 2023 subject to approval at the next AGM.
Also note that the decision to increase shares to 7.5 bill and list as public was done at the same meeting but the day after on the 19th December 2023 and so did not qualify .

Refer to the following for further clarification
-Page 2 of the report
-Check Note 29 on page 65 of the report

Sad but they knew what they were doing. Don’t bother computing. You will not qualify except indirectly through the shareholdings of TRANSCORP Group

SonofElElyonRet:


Was just about to point out same note 29 which is titled distributions made and proposed and refers to dividends for 2022 and dividends 2023
Might be wrong but doesn't this suggest that new shareholders could still qualify for one of the dividends? Sad that there isn't full disclosure in clear terms from the company and the stock exchange is just not living up to expectations as a regulator

chillykelly86:

Abeg ,which stock is this?
Remember the listing happened in 2024. And the released result is for Year ended December 31st, 2023. So, I assume the share split to increase outstanding shares to 7.5 billion, in preparation for listing would have happened after 31st December, 2023.

So, they may not have done anything wrong. But, investors should use the current outstanding shares to get the effective EPS. Very important, to avoid excessive school fees.

SonofElElyonRet:


Was just about to point out same note 29 which is titled distributions made and proposed and refers to dividends for 2022 and dividends 2023
Might be wrong but doesn't this suggest that new shareholders could still qualify for one of the dividends? Sad that there isn't full disclosure in clear terms from the company and the stock exchange is just not living up to expectations as a regulator

aj8:


Remember they only listed their shares. It was not an IPO.

emmanuelewumi:
I wonder why they decided to use a lower outstanding shares. Maybe to deceive the uninformed investors

Probably the outstanding shares prior to the listing of the company's shares was used, this is wrong

SonofElElyonRet:
Can someone help explain the interim dividend declared for 2022 and 2023...
*why interim?
*will new shareholders who bought after listing on the stock market be entitled to both 2022 and 2023 interim dividends?

essentialone:
Why do companies use the word 'Proposed dividend, instead of Declared dividend'?

Can shareholders actually cancel, increase, or reduce the dividend declared, during the AGM?

Or is the word Proposed used just as a form of jamboree formality?

Coolcash1:
International Breweries loss for the year now magnified to N70billion…phew! This stock has no business selling above N1.

https://doclib.ngxgroup.com/Financial_NewsDocs/40765_INTERNATIONAL_BREWERIES_PLC.-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_MARCH_2024.pdf

Agbalowomeri:


No be shareholders get final say?

Emeka1441:
How much is transcorp plc paying.. and would we that just bought early this year qualify for it

essentialone:


Please mention an example when it happened in Nigeria that dividend proposed was changed by shareholders.

Zagee:

Preliminary analysis is pointing at approx 20kobo

Ojoboak:
JOKES OF THE DAY
Be serious with your investment, but relax, smile, and adjust to situations you can’t control. Olu Cares! ❤️

COPIED......
*CBN* : You cant pay out dividends from your retained earnings. *Banks* : But why not sir? *CBN* : Because you made those earnings from Revaluation of Currency and from (il)legitimate Banking Business. *Banks* : But sir you audit our books and approve all our earnings and dividends before we announce them. *CBN* : Sharap! Just go and raise fresh capital from your investors; they have money. *Banks* : But sir, our investors need return on their capital and evaluate their investments based on ROE and they always add retained earnings to the "E" in ROE. Which means they will likely look elsewhere for alternative investment opportunities with better ROE. *CBN* : So you want to teach me my job ehn? My friend go and raise fresh capital! I dont care where you get it from! *Banks* : Ok sir. Can we pay 100% of our retained earnings as dividends then? So that our investors can be happy and have enough liquidity to invest BACK in us the money we just gave to them? *CBN* : You must be silly!! Banks: Sorry sir. *CBN* : In addition you have one month to consult investment Banks, advisors, key shareholders and other stakeholders and submit a detailed plan of how you intend to meet this capital requirement! *Banks* : Yes sir! *CBN* : You have 2 years from now to comply with the guideline. *Banks* : But sir, I can comply in one week if I can just use the money I have saved over the last 30 years to do so🤷🏿‍♂️. *CBN* : Get out of my office NOW!
😜

#copied#
Happy Holidays Everyone!

Coolcash1:
International Breweries loss for the year now magnified to N70billion…phew! This stock has no business selling above N1.

https://doclib.ngxgroup.com/Financial_NewsDocs/40765_INTERNATIONAL_BREWERIES_PLC.-_QUARTER_5_-_FINANCIAL_STATEMENT_FOR_2023_FINANCIAL_STATEMENTS_MARCH_2024.pdf

BabsO2:


That will be okay (but on high side). In view of the fact that they still have a lot of subsidiaries yearning for cash injection to unleash growth.

Transcorp should be seen as a growth stock and not a cash cow dividend stock.

I use these thoughts to balance my expectations on dividends from Transcorp.

essentialone:
Flash🛎: The first move was to relocate the Banking Supervisory Dept of the CBN from Abuja where there’s not one commercial bank headquarters to Lagos where all commercial banks have their headquarters.

Then, the recapitalisation order where no bank is allowed to divert its profit to capital base and that will be properly monitored by the Banking Supervisory Dept of the Central Bank which is now located in the same Lagos where the banks’ headquarters are domiciled.

These banks will as from Tuesday have to strategise on how to meet up with this requirement. The truth of the matter is that dollars kept by their big owners will have to be brought out to raise the capital base. They will have to look for foreign investors too and since backlog of valid forex have been settled, they’ll be eager to bring their dollars to Nigeria.

The President knew that he'd request for a massive recapitalization before he cleared all outstanding valid forex backlog.

But the banks’ minimum capital is not in dollar so they will have to convert their dollars to naira if the banks want to remain in business. I have told us several times that this war to save our currency is multidimensional but only a few agreed with me.

I do not think that the cards to checkmate forex banditry are all yet laid on the table. This President is a money person, he’s a financial engineer and he’s well grounded. Those who think that it’s game as usual should start to have a rethink if they don’t want to go bankrupt due to their inherent greed.

onegentleguy:


On the part in bold, broadly yes.

But there's also plan B.

A few banks may decide to go the route of a bonus issue, which is another means of issuing share capital and increasing their paid-up/paid-in capital, instead of a rights issue.
There's also a possibility that some banks might decide on both a plan A and B (ref: rights issue and bonus issue)

The way to guage the probability that a bank could do a plan B (either alone or coupled with a plan A) would be to look at the anatomy of her SCS and juxtapose it with her SPA and FF/OS
For instance, FCMB, STANBIC IBTC and ETI could decide to do a bonus issue. (note the use of the term "could")

There was a reason I initially recommended STERLING BANK @ N1.4+ and still went ahead to include it in my 1st outline/recommendations and investment guide (not series 2) @ N3+ after it had already achieved a massive 126% CGY.
Well, Mr STERLING would later rally to N7+ printing an astronomical 415% and 110% CGY from the initial entry peg of N1.4+ and N3.4 respectively.
Aside fundamentals and technicals, the decision to adopt a holding coy structure was going to be a favourable one for the bank.
There was also a reason I fell in love with GTCO @ N17+ prior to that time.
Recall I kept screaming that the bank was a buy at the time but perhaps some persons were waiting for the price to drop to 80k.

Saying that I also like JAIZ BANK, another asset that was recommended in the 1st outline @ N1.4--1.5, should already be taken for granted.
Congratulations to all those who sold @ N4 booking an impressive 185% CGY.
...I still like JAIZ BANK and a few other banking coys. (gave reasons and clue in many of my previous post)

But of course, I also love a few other asset names!

For those who've got the outline/recommendations and investment guide--Series 2, hang in there and be happy to hold. Some are already a bit up and rallying... others will follow suit in time!

It is well

essentialone:


Please mention an example when it happened in Nigeria that dividend proposed was changed by shareholders.

Agbalowomeri:


That they haven't doesn't mean they can't na. So it will always be "proposed" until approved by shareholders

Redoil:
please house CSCS is not opening is it due to the holiday

essentialone:
Flash🛎: The first move was to relocate the Banking Supervisory Dept of the CBN from Abuja where there’s not one commercial bank headquarters to Lagos where all commercial banks have their headquarters.

Then, the recapitalisation order where no bank is allowed to divert its profit to capital base and that will be properly monitored by the Banking Supervisory Dept of the Central Bank which is now located in the same Lagos where the banks’ headquarters are domiciled.

These banks will as from Tuesday have to strategise on how to meet up with this requirement. The truth of the matter is that dollars kept by their big owners will have to be brought out to raise the capital base. They will have to look for foreign investors too and since backlog of valid forex have been settled, they’ll be eager to bring their dollars to Nigeria.

The President knew that he'd request for a massive recapitalization before he cleared all outstanding valid forex backlog.

But the banks’ minimum capital is not in dollar so they will have to convert their dollars to naira if the banks want to remain in business. I have told us several times that this war to save our currency is multidimensional but only a few agreed with me.

I do not think that the cards to checkmate forex banditry are all yet laid on the table. This President is a money person, he’s a financial engineer and he’s well grounded. Those who think that it’s game as usual should start to have a rethink if they don’t want to go bankrupt due to their inherent greed.