₦airaland Forum

BabsO2:
That 2k dividend proposed is painful. They need to review it to at least 5 kobo.

But that EPS of 34K looks really good.


Book value also got upward review through revaluations. Book value per share is now solidly above N2.20. Quarter on quarter earnings per share is going up. Debt also going down gently. Will HOLD. And watch how next week pans out. And wait for 2022 Q1.

Two days of TRANSCORP trading gone post report release.

Watching Mr Market's first 5 days public Judgement.

Looks like most of the sell off even took place weeks before the results was made public.

Mpeace:
They should go after their debtors as well. I know for a fact that most Electricity distribution companies in the Southern part of the country and the federal government owe Transcorp in billions

Is the expected money from debtors in anyway reflected in the annual reports as operating profits and housed under assets.? Or they are not yet reflected in the annual reports. ?

Looks like they are already captured in the huge current assets of "Receivables from third-party customers" of N68 billion. But their current labilities of trade and other payables has climbed up to N135billion from N80billion. So they equally owe people more than what customers owe them. Overall current assets exceed current liabilities, which is good.

Mpeace:
https://doclib.ngxgroup.com/Financial_NewsDocs/35385_TRANSNATIONAL_CORPORATION_OF_NIGERIA_PLC%20_AUDITED_FINA.pdf
Transcorp is finally here. Them don become mid night crawlers. Its clear they have sold before releasing this result.
PAT and eps appears to be awesone 23.8billion and 34kobo respectively, but dividend(2kobo) is clearly unreasonable.
My gamble stock clearly shows itself as a useless stock. I go sell on monday.

That 2k dividend proposed is painful. They need to review it to at least 5 kobo.

But that EPS of 34K looks really good.


Book value also got upward review through revaluations. Book value per share is now solidly above N2.20. Quarter on quarter earnings per share is going up. Debt also going down gently. Will HOLD. And watch how next week pans out. And wait for 2022 Q1.

Nigerialabalaba:
Hahaha....Fbnh don suffer. Me I no dey touch fbnh since I discover say dem directors na Alibaba and d 40 thieves

Wen I ask my trusted persins wetin dey shelle inside fbnh before I put my kala ,I won faint. Even pensioners wey die for active service dem no pay dem families
Dem yarn me and show me proof how Flakky Ani mumuni dey use her husband sponsor Digitial Banana wey Keji Giiwa be figurehead dey cash out daily like kilode as I dey type so yet CBN do sabi shishi!

D free money inflow wey dem dey cash out daily for digital banana alone pass ur dividend 1 million times yet cbn no see am. Dem show me say conduits like digital banana wey dem directors dey use plenty pass kilode! I just weak ni as I remember how dem experts hia dey do calculations,analysis & permutations

Dat na why dis Otedola take over sweet my belle and I hope say Otedola go send dem corrupt directors all away after sacking dat Kehinde Kosoko.

Fbnh stink from hia reach heaven and dat dem MD need to go before dem send Otedola,DJ cuppy Papa, back to Epe.

Fbnh na cesspit of corruption and corporate daylight robbery unless cbn and efcc do dem work wella.

If efcc and cbn sabi dem work,Ani mumuney, Adeduntan, Kosoko & co suppose don go teytey before dem consolidate so tey go hire topgun efcc customer dada Nnamdi Okonkwo,as MD.

if u wan buy bank, buy gt,zenith and fcmb/fidelity, no buy fbnh, until otedola send dem corrupt directors packing,

D corrupt directors wey Oba and Awoskia empower don wreck d company aswear2gud but future of fbnh still dey bright.

if i get my way,I go tell u say make u no buy fbnh until dos directors go or repent.

Igi pawpaw o ni wo pawa o.

I nearly felt like putting the EFCC need to invite their directors in my write up. But I told my self wetin I know other that FBNH enjoys strong cash flow from interest and non interest income that gets guzzled up and somehow never get translated into profits. This your insight and thoughts umm. That means Otedola on board may translate these cash flow into profits if he can get things straightened up through his influence. And in the process grow his investments in FBNH for his benefit and that of the common shareholders wey dey inside the bus looking through the window enjoying breeze . Many don commot give him seat. And him still dey buy more more.

gbengafaro1986:
i hope the price push in FIDELITYBK is optimism towards a very good FY Result, Whats really holding FBNH?

Regarding FBNH. Looks like CBN has a lot of questions that management haven't addressed properly. The bank has too much leakages of revenue. The management need real scrutiny for fraudulent activities. Especially with the reason given by Remi Babalola for leaving abruptly.

Ades1:
Same here. This is after Africaprudential assured me my mandate was taken care of

I am still hoping they're sending the largesse in batches and it's not my turn yet

Maybe its bank by bank. And one or two banks may have a little internal go slow. I think we should only worry if we do not see it latest by COB tomorrow.

Wapgod:
Will the raising of additional tier 1 capital dilute existing access bank shareholders?

It shouldn't, because if the money is working hard as per strategy it should deliver value.

However one has to be careful with calculating entitlements to shareholders and not erroneously take the additional capital and income from its deployment as belonging to shareholders. And when computing profit attributed to shareholders or EPS to ensure what is due to these tier 1 capital owners has been correctly accounted for.

BabsO2:
That N4.58 EPS is over stated. Not all of it belongs to shareholders. It needs to be corrected for non controlling interests and for the entitlements of Additional Tier 1 capital owners. The bank issued additional tier 1 capital of $500m (translated as N206.4b) in the year.
Also total dividend comes to N1 when interim dividend of 30kobo is added.

The true earning per share (to holders of shares) is about N3.6

Looks like ACCESS bank is the first to raise additional tier 1 capital through instruments other than shares. That N4.58 EPS stated on their issued annual report will fool some people.

Mpeace:
Access bank: Despite an eps of N4.58, all they can give is 70kobo. No be juju be that?
Waiting for Fidelity sha.

That N4.58 EPS is over stated. Not all of it belongs to shareholders. It needs to be corrected for non controlling interests and for the entitlements of Additional Tier 1 capital owners. The bank issued additional tier 1 capital of $500m (translated as N206.4b) in the year.
Also total dividend comes to N1 when interim dividend of 30kobo is added.

The true earning per share (to holders of shares) is about N3.6

gbengafaro1986:
Access Has declared 70kobo

This brings total divided to N1 when the interim dividend of 30kobo is added

yMcy56:
GTCO
https://doclib.ngxgroup.com/Financial_NewsDocs/35229_GUARANTY_TRUST_HOLDING_COMPANY_PLC%20_AUDITED_FINANCIAL_.pdf

UBA
https://doclib.ngxgroup.com/Financial_NewsDocs/35232_UNITED_BANK_FOR_AFRICA_PLC%20_AUDITED_FINANCIAL_STATEMEN.pdf

A good one from GTCO, surpassed some investors' expectation I think......
The moneybags that dragged the share price down in order to have their fill will eventually benefit both dividend and price appreciation........those guys can do and undo..........creating issues where there's none. Lol don't mind me.

This UBA result was released in less than 3 weeks with CBN. That was fast. While Access that submitted earlier has not been released by the CBN.

The 80kobo UBA dividend is good. Bringing total dividend to N1.00
Good.

Biafran4life:
Do you know that this useless government was using low price of crude oil all this time as a reason of not performing .The accused pdp of doing nothing when crude price was in her favor.I am shocked now to hear this government now saying even with the high price in crude we should expect nothing good.Apc is is full of lies.Not even excess crude account being funded

I am worried of this issue of the current government saying high oil prices is not good, can signal panic to investors (due to a total loss in confidence on the current govt) and precipitate the market going sideways while trending down gently.

The SEPLAT Mobil purchase facing a prospect of being tampered with can reinforce this loss of confidence. Coupled with the current mess in petrol supply the market is loosing much steam.

Since the market is ahead of the economy it means companies may find it difficult to continue making good profits. These issues need to be watched closely.

More care is needed with stock selection. No need to over pay for any stock.

gold360:
thank you sir, is there a way I can offload my sky bank and fcmb shares and replace them with better shares?

Skyebank is of zero value. That is all shares any one has in it is worthless

If you contact a stockbroker you can get your FCMB sold.

Also you can get your unclaimed dividend by getting in touch with the Registrar. Especially if the amount of unclaimed dividend is more than the cost of transportation to the Registrar.

http://www.sec.gov.ng/non-mandated/
You can use the above link to check your unclaimed dividends share/Registrar listing in the NSE by typing your full name.

gold360:
thanks sir.

I also have sky bank and fcmb shares which haven't been paying dividends since.
Any hope this year?

Skyebank is no longer a going concern.
FCMB has been paying a little dividend every year.

Valueinvestor:
https://doclib.ngxgroup.com/Financial_NewsDocs/35193_TRANSNATIONAL_CORPORATION_OF_NIGERIA_PLC%20CANCELLATION_.pdf

They didn't even give reason for the cancelation or advice a new date. That looks poor

Market reacted by dropping the price 10kobo.

2zona:
This Russian/Ukraine war is getting intense oo, hoping that bears will not begin to show face and ravage NSE market ooo. May God intervene and save us all.

The FPI people that usually pull the market down vigorously are mostly out and have repatriated their money out as well.

With the high oil price, there are more chances of money trickling into the NSE than leaving it.

Uncertainty around 2023 elections however may pull the market down.

emmanuelewumi:
Not bad at N5.00 and below.

UBA
United Capital
Afriland Properties
Transcorp
Transcorp Hotels
Avon HMO
Heirs Holdings

Will be their first set of clients.

APR actually developed the Invest now app for United Capital and the app played a major role in growth of United Capital

Ah with a week closing price of N7.35 that means Afriprud is currently overpriced.
Especially with their 50kobo dividends

talk2me2:
When will this government begin to tell Nigerians the truth. During OBJ's government, When crude oil rallied the government had more than enough to share to the FG, states G. and LG. They also paid PMS & DPK subsidies and still had plenty left that they had to create the excess crude account to keep. The same with GEJ's government. But since this APC /Buhari came to power in 2015 till date, it has always been from one excuse or lie to another.

Some of the excess money may be tricking into the stock market. And or fund the big companies in the market.

Mpeace:
https://www.reubenabati.com.ng/index.php/component/k2/rising-oil-prices-not-good-for-nigeria-says-sylva?fbclid=IwAR0ksmI196PMrv3aWcGLNcj9eoSlBoojWeiBNRLGxP9ngz_zs0dulwqGO4k
You petroleum minister says high oil prices not good for nigeria.

Not good for FG. That doesn't mean some Nigerians will not be feeding fat on that misery.

emmanuelewumi:
Genesis of the discussion was the possibility of a dividend of 50k as said by someone on this thread, which I believe is not possible in the next 3 years

I tried to summarize or is it conclude the discussion explicitly. That, Transcorp is not the company for anyone hunting for a fat dividend income. That indeed 50k cannot happen soon and the reasons why.

emmanuelewumi:
Forget earnings, what is their free cash flow.

Where will Transcorp get over N20 billion to pay as dividend at 50k per share ...


Transcorp can't pay a dividend of 50k in the next 3 years

Okay O

Transcorp is more like a speculative growth stock. Not a stock for dividend hunting.

Speculative because non of its subsidiaries (or is it companies) has reached the stage of being a strong cash cow. And even if one of its subsidiaries becomes a strong cash cow, Trasncorp still needs a lot of cash for investment in its other subsidiaries. These investments can end up becoming good or bad. Hence the categorization as a speculative stock.

Transcorp needs a lot money to fund the business as well as to pay the non controlling interest that are as big as shareholders. Hence even with a projected earnings per share attributed to shareholders of 28k estimated for 2021. The likely dividend will be 5k. There is also a possibility of 3k only, in order to fund the business growth.

With a 3k or 5k dividend about 25k will be sent to reserves to counterbalance the huge non controlling interest size.

kolaish:
If you are the owner of transcorp, will you pay the bolded? If so, that will amount to financial recklessness. Transcorp is a company that is highly indebted. Beside that, the company needs a lot of money for expansion and other ventures. Please note that the company is yet to get 1kobo from their oil & gas business till date, you can confirm that from page 10 of their Q3 report that detailed the sources of all their earning. Kindly remind me if transcorp pay the bolded, not just this year but in 2023.

NB: I am in transcorp boat as well, I bought at an average price of 1.02k. so don't think that I am running the company down, but just being realistic.

kolaish:
Transcorp has not paid more than 5k dividend since 2015. They may likely pay between 3k - 5k this year. I don't see them paying more than 15k, even in the next 3 years, though nothing is impossible in NSE.

Leave dividend aside. What shareholder EPS do you see for 2021 and 2022 respectively. I see minimum of 28k and 40k respectively based on their 2021 Q3 report.

emmanuelewumi:
Not possible in the next 3 years

The shareholder earning per share can reach or even exceed 50k this year if the acceleration of earnings quarter on quarter as seen in 2021 q1, q2, and q3 continues.

Not sure of their dividend policy. If it is up to 75% of EPS. A dividend of 50k is possible in the next two to three years. But 75% dividend policy looks too high. Thus possible but too high an expectation for dividends.

dharpzee:
Abeg, what if transcorp surprises us by paying 50k dividend? I just dey think am o, based on UCAP like this and their Q3financials?

I estimate Transcorp EPS for shareholders in 2021 will be about 28 kobo per share if Q4 performance is like Q3 performance. With this they cannot pay 50k.

Based on the 28 kobo earning per share if they distribute 50% as dividend that will be a 14kobo dividend. But since they still need money to invest in the business they may give a 5kobo dividend or a 10kobo.

Their board meeting is 1st of March. So in a weeks time the results should be on the NGX website.

dharpzee:
Waiting for the usual dumping carnival for UBA shares

This time is different. Waiting for a UBA rally to catch up with ACCESS, FBNH and ETI.

BabsO2:
I predict 12 month ago that UBA will restore minimum of 80k dividend to be paid March or April 2022. Resulting in a full year dividend of 20k + 80k = N1.00

NSE is back - No announcement about UBA 14th Feb meeting yet

https://doclib.ngxgroup.com/Financial_NewsDocs/35123_UNITED_BANK_FOR_AFRICA_PLC%20APPROVAL_OF_2021_FINANCIAL_.pdf

Meeting held o. Dividend recommendation and report sent to CBN for approval. That's another 3 to 5 weeks waiting.

emmanuelewumi:
He made the prediction about 15 months ago, he might have sold unless he has the staying power

I predict 12 month ago that UBA will restore minimum of 80k dividend to be paid March or April 2022. Resulting in a full year dividend of 20k + 80k = N1.00

NSE is back - No announcement about UBA 14th Feb meeting yet

emmanuelewumi:
You will hear from UBA in March after they have been cleared by CBN.


United Capital will have theirs tomorrow

Did the UBA meeting hold on 14th. And was dividend of 80kobo or more discussed . Was the report passed to CBN for approval.

Ades1:
I was wondering the same. Not surprised though, just hoping it is the normal Nigerian tradition of incompetence and not someone deliberately withholding info to allow people enter or exit

Been waiting to see if UBA has held the board meeting on 14th and discussed dividend and forwarded to CBN or the meeting was aborted again

Now, not sure if the market has started responding by dumping some shares.

What is happening to corporate disclosure. The last update was on the 11th Feb

before the site went down
https://doclib.ngxgroup.com/Issuers-section/corporate-disclosures/company-results

or stopped updating
https://ngxgroup.com/exchange/data/corporate-disclosures/

emmanuelewumi:
Your entry price is the most important factor if you are a yield hunter.


7.5% is poor for the Nigerian market

I think I am speaking from a different reference compared to you. The 7.5% is based on current valuation of portfolio and 2021 dividends received. If i back out dividend reinvested and focus on original money brought into NSE from work my dividend yield is above 12% and my portfolio has grown significantly in value compared to original money brought into NSE.