OBAGADAFFI:


On NSE anything can happen.

OBAGADAFFI:


On NSE anything can happen.

samguru:


Price manipulation can happen, but not dividend manipulation from negative retained earnings.

OBAGADAFFI:
Chams Plc will be paying a dividend of N0.03 per share for the 2018 financial year despite negative retained earnings.

Mcy56:

2018 FYE or 2020 FYE?
Can you post the link pls.
Yes, Chams already returned to profit in the 2020 fye.
http://www.nse.com.ng/Financial_NewsDocs/32345_CHAMS_PLC%20_QUARTER_4_FINANCIAL_STATEMENT_FOR_2020_FINA.pdf

OBAGADAFFI:


Chams Plc will be paying a dividend of N0.03 per share for the 2018 financial year despite negative retained earnings.

While the company’s return to profitability is a positive development, the decision to pay dividends is a somewhat odd one. Chams currently have negative retained earnings of N1.9 billion.

OBAGADAFFI:
https://nairametrics.com/2019/04/03/chams-opts-to-pay-dividends-despite-negative-retained-earnings/

samguru:


@OBAGADAFFI
Chams did balance sheet restructuring and that was sanctioned in the Federal High Court. If you recalled AIICO did similar thing to their balance sheet by reclassification.
The implication of that is just to make the company have surplus and reserve separated from retained earnings. With this restructuring they can pay dividend from reserve or surplus account and not retained earning

In oando's case everything is RED and they can not go to court to restructure their balance sheet now because they have too many court cases.

Mcy56:

Check the date on that article, it's 2 years ago.
Their books are much better now. I hope the coy pays dividend for the 2020 FYE.

OBAGADAFFI:
I know, if you follow the thread you will understand why I sighted that example.

OBAGADAFFI:



Meaning they generated more funds by selling off some assets or Adjustmented their Liability.

But the year they paid that dividend, Chams balance sheet was showing the negative retained earnings.

Wale can pull fast one us anytime.

OBAGADAFFI:



Meaning they generated more funds by selling off some assets or Adjustmented their Liability.

But the year they paid that dividend, Chams balance sheet was showing the negative retained earnings.

Wale can pull fast one us anytime.

robobo:


My Oga where would he get the money to pay from? has he finish paying the Banks? or you think the Banks would allow him pay dividend when he is still owing dem loan that had become delinquent? Oando cannot return to profitability except oil reads 70 (that was the projections on which the conoco asset were bought, check the coy previous financial statement) and unlike some other marginal player he cannot increase the volume from the oil well to compensate for price fall because it is not the operator.

My Oga i really wished the rumour has an ounce of possibility to it cos im heavy here (though fully written off now) but im a hard nosed realist, so i wld tell you not to bet on it.

samguru:


Wale has bitten more than he can chew!,
he cannot pull any fast one here as all eyes on OANDO.

The banks are waiting for their money and naira depreciation has worsened OANDO's situation.

These banks may repeat what ACCESS BANK did to Japual Oil and Maritime service in order to recover their loans

Willie2015:


Dat should be the koko
Dont see how it should fall drastically like dis if they are payin...
We may see it below N20...
Just Just ...
Very soon......

emmasoft:


You can trade NASD OTC shares with investment one. We are one of the licensed stockbrokers.

Please note you will need to register differently to have the cscs account for that platform. The details of your regular cscs account for NSE stocks cannot be used on NASD platform.

To open account click on the link on my signature.

After completing the online form send a mail to customer care that your application is for NASD
with that you are good to go.

Intendy:


on which day did it close at #6.10k , cause reference prices are closing prices

Pesuzok:

Can I trade in the bond market with investment one?

emmasoft:
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Don't just save let you savings save
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ojesymsym:
Are we allowed to have more than one PFA now?

Also they now allow one to pay directly into his PFA himself?

Mcy56:

I don't think they eventually pay that particular dividend......but if they opt to pay it for 2020 fye, it's fine.
@chibuking81 should be able to clarify it for us.......
Wish Chams could spring surprise again....

Chibuking81:

For Cham, no surprise is coming from them this time
1. Oct-Dec 1 kobo EPs,
2. Jan-Sept negative (2) kobo EPs,
3. Jan-Dec negative (1) kobo EPs
Company might have negative retain earning in their final year account as the result of previous negative earning, but still declare dividend in that accounting year, through positive EPs, for example if they earn 7 kobo, and declare 2 kobo, the remaining 5 kobo will be retain and will cancel the negative retain earning completely or near to completion. This will show in their following accounting year. So for now Cham PLC don't have what it take to pull up surprise this year, maybe next year.

The surprise will come from insurance companies this time, most especially from two. They started their vehicle with other insurance companies ahead of time, and reverses back, one to car park and the other near to car park. Once the dividend announcement comes out, kilometer 100%/200% they will move. Save this post.
Good morning all.

Chibuking81:

For Cham, no surprise is coming from them this time
1. Oct-Dec 1 kobo EPs,
2. Jan-Sept negative (2) kobo EPs,
3. Jan-Dec negative (1) kobo EPs
4. This was against their last year Jan - Dec earning per a share of 6 kobo.
See page 3 of their 2020 final year statement.

Company might have negative retain earning in their final year account as the result of previous negative earning, but still declare dividend in that accounting year, through positive EPs, for example if they earn 7 kobo, and declare 2 kobo, the remaining 5 kobo will be retain and will cancel the negative retain earning completely or near to completion. This will show in their following accounting year. So for now Cham PLC don't have what it take to pull up surprise this year, maybe next year.

The surprise will come from insurance companies this time, most especially from two. They started their vehicle with other insurance companies ahead of time, and reverses back, one to car park and the other near to car park. Once the dividend announcement comes out, kilometer 100%/200% they will move. Save this post.
Good morning all.

Chibuking81:

For Cham, no surprise is coming from them this time
1. Oct-Dec 1 kobo EPs,
2. Jan-Sept negative (2) kobo EPs,
3. Jan-Dec negative (1) kobo EPs
4. This was against their last year Jan - Dec earning per a share of 6 kobo.
See page 3 of their 2020 final year statement.

Company might have negative retain earning in their final year account as the result of previous negative earning, but still declare dividend in that accounting year, through positive EPs, for example if they earn 7 kobo, and declare 2 kobo, the remaining 5 kobo will be retain and will cancel the negative retain earning completely or near to completion. This will show in their following accounting year. So for now Cham PLC don't have what it take to pull up surprise this year, maybe next year.

The surprise will come from insurance companies this time, most especially from two. They started their vehicle with other insurance companies ahead of time, and reverses back, one to car park and the other near to car park. Once the dividend announcement comes out, kilometer 100%/200% they will move. Save this post.
Good morning all.

Chibuking81:

For Cham, no surprise is coming from them this time
1. Oct-Dec 1 kobo EPs,
2. Jan-Sept negative (2) kobo EPs,
3. Jan-Dec negative (1) kobo EPs
4. This was against their last year Jan - Dec earning per a share of 6 kobo.
See page 3 of their 2020 final year statement.

Company might have negative retain earning in their final year account as the result of previous negative earning, but still declare dividend in that accounting year, through positive EPs, for example if they earn 7 kobo, and declare 2 kobo, the remaining 5 kobo will be retain and will cancel the negative retain earning completely or near to completion. This will show in their following accounting year. So for now Cham PLC don't have what it take to pull up surprise this year, maybe next year.

The surprise will come from insurance companies this time, most especially from two. They started their vehicle with other insurance companies ahead of time, and reverses back, one to car park and the other near to car park. Once the dividend announcement comes out, kilometer 100%/200% they will move. Save this post.
Good morning all.

Chibuking81:

For Cham, no surprise is coming from them this time
1. Oct-Dec 1 kobo EPs,
2. Jan-Sept negative (2) kobo EPs,
3. Jan-Dec negative (1) kobo EPs
4. This was against their last year Jan - Dec earning per a share of 6 kobo.
See page 3 of their 2020 final year statement.

Company might have negative retain earning in their final year account as the result of previous negative earning, but still declare dividend in that accounting year, through positive EPs, for example if they earn 7 kobo, and declare 2 kobo, the remaining 5 kobo will be retain and will cancel the negative retain earning completely or near to completion. This will show in their following accounting year. So for now Cham PLC don't have what it take to pull up surprise this year, maybe next year.

The surprise will come from insurance companies this time, most especially from two. They started their vehicle with other insurance companies ahead of time, and reverses back, one to car park and the other near to car park. Once the dividend announcement comes out, kilometer 100%/200% they will move. Save this post.
Good morning all.

Mcy56:
UCAP getting more than enough bashing....
Mr. Market doing it's things .......or what can we say it's this one's offence now?

Ucap trading higher above Afriprud, can we say it needs some adjustments ni......lol. dont.mind me.

nna777:


Just like what @robobo said earlier, the fixed income space (TB & Bonds) is becoming more attractive. Funds will start moving from the equity market to these safer investments vehicles to preserve capital.

People should begin to make informed decision. They can either

Book profit on any equity they have (Cash is King).
Average down when the dip ends if they're long termers.
Cut their losses if they're not not long termers.

This is not a buyers market yet. The dip just started. No need for panic selling. This just one of the normal cycle we have entered.