myjoy08:


They will probable come with N1 plus (One Naira plus) dividend if my assumption is right! Very impressive result indeed.

They are paying N1.00. The best result so far...

See gobe for Unity bank... Panic-selling mode activated. I hope this one is not going back to base sha.

JAS10:
http://www.thisdaylive.com/articles/fcmb-shareholders-approve-n40bn-capital-raising-exercise/207863/

"The managing director said that over 12 institutional investors comprising local, global and international had shown interest in investing in the bank"

I talk am, so na una dey move FCMB price dat time... Una do well ooo

angelo82:
Please can you share the current price of FBNH,ACCESS,UBA and AFRIPRUD because you can't rely on Meristem data........

Angelo, try and open an account with Morgan capital. It will help you a lot in your JIJO trade. Meritrade is a complete disappointment. Instead of trying to measure up to Morgan iTrade they keep getting worse. Meristem holds part of my long term stocks (that's what they're good for). You can't rely on their platform for trading purpose.

The only problem I have with Morgan iTrade is its inability to display Open, High and Low of trades.

Thanks @spicytayomic and Myjoy

Can anyone help with the opening price of Stanbic? Can't find it on FT (SMN) and Meritrade has been very useless.

bigass:


ok but why am i seeing ref price of 18:16 and prev close of same

18.16 was the previous close which became today's ref price. SMN is reporting the opening price as 17.80 which means the first trade that went through this morning was at 17.80 and that will automatically void the old ref price of 18.16 making the new ref price to be 17.80.

bigass:
why cant Oando go beyond 18:69?

It opened @17.80

passwelle:
UnityBank may have a new 52 week high today

I hope it does not go back to the car park.

saibuhari:
Vitafoam result will be released very soon (I mean very soon) and brothers/sisters have next week to board the plane. The plane has been parked for sometime for passengers to board. Those who board now will be glad they did and will surely do thanksgiving.

In two words and in Oga Agba's voice, someone should describe the above post.

megainvest:
Great we have all now agreed on the same thing. I hope everyone has learnt something.

Thanks a lot for bringing up this issue on dividend dates.

megainvest:

1. If you want a dividend you should buy at least one day before the ex-div date.
2. Ex-div date is the day the stock price is adjusted (mark down). From that day forward, you no longer qualify for dividend.
3. Closure date or Record date is usually a number of days after the ex-div date and it varies. This date is set to accommodate those who bought a day to ex-div date.
4. NSE dates are mixed up. Sometimes they report qualification date, others ex-div date and others record date.
5. The terms closure date and qualification date are misused sometimes.
6. To be 100% sure and avoid confusion, always ensure you have bought the stock at least 3 days to the first quoted date.

In addition, in most cases, the closure date published by NSE is also considered as the ex-dividend date - this is wrong. Until the NSE reviews their publicized dates on corporate action of coys and institute some changes, we are advised to buy 3 days before the date on NSE website.

Moneysage:
@megainvest

To simplify this issue for other readers: There is only one Mark down date. You may ignore the range (e g 21-24 that many Nigerian companies quote).

To be safe, just make sure you buy the stock before the first of the 2 dates. Why would you wait till 22nd or 23rd when you can buy the stock on 20th or 21st?

Very correct. It is better to buy earlier than the date published by NSE.

austinibe7777:
In all this now what date will transcorp be marked 21st or 22nd

The markdown date on the NSE website is 22nd April 2015. Transacorp will be marked down on this date.

megainvest:


No, you wont. You must own the stock at least 3 working days before the closure date i.e. 21st. Read my explanation.

Another confusing part of your post. This is contrary to your explanation in your original post (To qualify for a dividend payment you must be the owner of shares at the close of business on the working day before the ex-dividend date) . The 21st in austinibe7777's example is the ex-dividend date. You applied the T+3 rule in your reply to austinibe7777 (which I always advise) but in your original post, you considered the usual which is to own the stock at least a day before ex-dividend date (which is actually right also).

megainvest:

Thank you for your answers to the quiz question. You all gave it a good shot. MR BULL is the more correct answer. Congrats to bigass as the only one who got it right. Now here is why:

It is of utmost importance to know whether the date the company has quoted to NSE is the ex-dividend date or the date of record. There is a difference between the ex-dividend date and the record date. To qualify for a dividend payment you must be the owner of shares at the close of business on the working day before the ex-dividend date. The ex-dividend date is the day the stock price is marked down for dividend payment. Some companies will clearly specify both dates e.g. FBNH. The ex-date is the day after qualification date while the date of record is specified as closure date.

Bros your post was a bit confusing as it did not clearly indicate the record date and therefore I answered your question on the basis of NSE misconstrual of the dates on companies corporate action. The date published by NSE as closure date is also the ex-dividend date (mark down date). The NSE website does not indicate clearly the record date or qualification date. Normally if you buy any day before the ex-dividend date you should get the dividend but in Nigeria this is not always the case as it is possible for you to buy a stock a day before the ex-dividend date (closure date in NSE website) and still not get the dividend. I have explained this in one of my posts about 2 or 3 weeks ago. Check my previous post below:

Elai147:


Case in point of a situation where you can buy before the closure date (published on the NSE website) and still not get dividend: an extract from Nestle's Corporate action:

"The final dividend per share is payable on the issued share capital of 792,656,252 (2013:792,656,252) ordinary shares of 50k each held by each member of the Company registered in the books as at close of business on Friday, 24 April 2015".
http://www.nse.com.ng/Financial_NewsDocs/8595_NESTLE_NIG_2015_CORPORATE_ACTION_CORPORATE_ACTIONS_FEBRUARY_2015.pdf

...meanwhile the published closure date on NSE website is 27th April 2015. An investor who buys the stock on 25th, 26th or 27th will be inelligible for dividend.

How do we explain that?

Another good example is FBNH dividend illustration in your post. Qualification date is April 30th while the NSE published only the closure date (ex-dividend date) which is May 4th. So if I am to go by your explanation and buy on May 3rd (a day before markdown or ex-dividend date), I will not get the dividend. This is the confussion from NSE. My advice is to make sure you own the stock at least 3 days before the closure date published by the NSE because of the T+3 rule. If there is a date range (e.g 21st -24th), it is better as you qualify for dividend if you buy on the 21st.

Moneysage:

Stock Trading is largely an art, after the technique or science has been fairly understood. It is unfair to you, oga Elai147 or any other person, to keep advising, advising and advising when someone is just interested in dumping their savings in some magical stock, and walk away.

Anyone who isn't ready to READ shouldn't trade. SHIKENA!

#no hard feelings
#unfortunately, some future newbies won't bother to read several pages of this thread before commenting.

You are on point, my chairman. The thing tire me too but we shouldn't relent. Hopefully some will learn from our consistent advice and some will choose to remain dependent.

GudluckIBB:
GOOD AFTERNOON ALL
PLS I NEED SOME ONE TO HELP ME.
SWPLAT CLOSED YESTERDAY AT 404.25 ON FULL BID AND TODAY IT OPENED AT 385..WHAT HAPPENED
PLS I NEED CLARIFICATION.
THANKS

Because there is no price tag on it. That a stock closed at a certain price today is no guarantee it will open at or higher than that price tomorrow. Most times, it depends on the bid and ask prices. If the stock closed at N5 yesterday and the best bid on the stock at the open of market today is N4.50 while the best offer price is N4.50, the stock will simply open lower than its previous day's close of N5. There are also after market hours trades entered by investors and these orders will queue up until the market opens the next day and may decide the opening price.

Some people may also manipulate the opening and closing price for whatever reason. They put in bids and offers using separate computers and trading accounts.

My observation is that some of us like cheap things a lot. Stock A is cheaper than stock B does not mean you should always choose stock A over stock B. If there is a confirmed news that the bulls will soon visit the banking sector, you will see short term traders rushing to get FBNH (wey dey waka like millipede) because of its price. All things being equal, GTB and Zenith (esp. GTB) will always outperform others in the sector in terms of capital appreciation and otherwise.

Another thing is that most of us like to buy low (as in VERY LOW) and sell high. If this is your strategy, you will most probably enter trades at wrong enteries (buying at resistant, consolidation zone, etc). To some of us, it doesn't make sense to allow a stock rise to a certain price before buying. This set of people will never use a buy stop-order (an order to buy above current market price). If you want to JIJO, the best time to buy is not always at the lowest entry but at the right entry price. This way, your capital will not be tied down in a particular trade for too long.

My advise to those who are in the market for JIJO things is to go and study technical analysis so you can know when to enter and exit a trade. Stop depending on NSEMPA for stock picks as 99% of the picks only tell you when to enter a trade but fail to tell you when to exit. This is because the people giving you these stock picks can't tell you exactly when you should exit your position because they are not Nostradamus. They also want to be careful not to make you exit the trade prematurely or exit too late. Most probably, they will know when it is time to exit their own trades because they know their technical and fundamental analyses and when they do, they will not remember you. Sometimes, it is possible to use fundamental and technical analyses to calculate your exit point but this is not always the case. So it is important to learn how to do these things yourself and limit your dependency. You don't need to be a professional trader to be successful in JIJO but you need to know what you are doing. You can't ask for when to enter a trade and not know when to exit that trade.

Take up the challenge, make use of google and youtube, read investment books and become the CEO of your portfolio. This is exactly how our ogas here started- they were once newbies and some were even worse than you are right now. It is better to know how to fish than ask for fish all the time but this does not mean we should not ask questions when we need advice or opinions of others.

Abeg una no vex for the lengthy post.

megainvest:
Morning quiz for all!

Mr bear has 1000 units of Company X shares on 13th of April 2015. Company X has just declared a dividend of N20 per share and the mark down date for dividend payment is 22nd of April 2015. Mr bear decides to sell off his shares to Mr bull on 21st April 2015. However, the settle date for Mr bull's transaction is T+3 which is 24th April 2015. Who gets the dividend?

A. Mr bear
B. Mr bull
c. None of them (i.e. Money goes back to company X!)

A. Mr bear

engineerukairo:
Thanks to you all. I thank God for these information.
I would recommend these broker: Grandstock Trust and Trades LTD. They have been very consistent, analytical and diligent in their work. I have recorded about 36% profit so far from the stock market through them. One good thing is that with them you dont need to do any work in knowing when to sell or buy. They hand everything for you with your permission.
This is the email I.D of their chief Analyst: grandstock2014@gmail.com
His phone number is: 08161397651.
Wishing you all God's blessing in your endeavours

Reddit:

Your fada!! Abeg park

passwelle:

You are selling Binary options ebook. You have recorded 36% profit through your broker. You are the chief analyst of your broker. What else are you?

God bless @Reddit & @Passwelle and punish this Grandstock dude

angelo82:
If your bid was not successful,they have to credit your account with your fund and they can't set your money aside for next bidding without your consent.......Funny story though.......

Funny story, indeed.

Gistdutch:
Pple kindly advice. I bidded for last TB on the 9th April,2015. My account was debited same day but up till this morning I didn't get any alert for my interest and I decided to go to my Branch. Upon get their the man in charge said the bidding was not successful and that my money cannt be return to my account cos its been set aside for next bidding. My challenge now is having access to my money for other investment. What do I do cos time is money. I cannt understand why my money will held onto without interest.You candid advice is welcom thanks House

Unbelievable..., u need to go back to their office and throw some chairs in the air. Order them to credit your money in your account. It is not done anywhere.

cadno:
Bnsitl, did u see the info from a brother to Mercy abt VitaFoam last week ?, I JI @ N4. Now see the stock at N4.45 in two days !! , thanks ...we are choping money this year...

Enjoy your loot but don't forget to keep your finger on the trigger because sometimes 'illiquid' na the surname of dis stock.

ucheson2:
Dear Shareholders of Oando, here is a reason you should always support me and my company in bringing down the price of oando any time we want to increase our holding: Wale Tinubu and his team have not been efficient in the managent of oando and they have little or no regard for shareholders, oando have no future in their hands; if my company succeeds in taking control of oando, I and my team will CHANGE the scenerio, we will return oando to real profitability and you will begin to enjoy hug dividend, bonus and ROE. Please let the sell off continue so that the price of oando can come down to N12 or below, to enable us increase our holding to at least 3% for now. This trend will continue periodically until we achieve the control of oando. Thanks & sell more oando tomorow. Byeee.....

So na with 3% una wan take turn Oando around? BTW what is the name of this your company?

mercylicious:
Have u guys noticed tranexpress? That stock is valued at 5naira, but I dey fear d stock cos of the liquidity.
Long termers should have a close look at the stock .

How is it valued @N5? I almost JI-ed this stock during the last bullish run but was dissuaded by better opportunities in the market. The stock resemble costain and both of dem fit explode person portfolio when bull visit dem.

mercylicious:
Let the blood flow!
I need afriprud at below 2.55 , uba below 4 and fcmb at 3 or below
Am not greedy naa, my targets are realistic.

Hio hio hio. Very soon people will be praying for FCMB to fall to N4.00 so that they can buy. A close look at its chart shows there are evidences of institutional buying contrary to some of our opinions that the stock is being manipulated. If it was manipulation it would've been too obvious for regulators as the aggressive trades in this stock started since last year. Whatever the case, the stock is still on a smooth trend, at least for now, and I shall follow the trend until I see a signal that it is coming to an end. Like they say: The trend is your friend. I can't fit shout

osazeet:
Greetings everyone! Is there any online trader investor,
good at using itrade platform that lives in Benin city, Edo state?
I need to meet in person so as to learn how to Jijo,
Make fast executions.
I will be glad and I wouldn't mind paying for this.
My whatsapp contact; 08023511703

Morgan has a video tutorial on how to use their trading platform which has been posted several times on NSEMPA. You need technical analysis to learn how to JIJO and not iTrade, though you need to know how to use the iTrade platform.

Comsol:
Thank you guys. Sure I can get the form to any branch of my bank to get their signature affixed through my relative? I really need to get this sorted since I have not claimed any dividend from my investments for the past 6 years because I'm away. Though I do get dividend warrants by post that are all expired.

Yes, I've done that severally.

TheWholeTruth:


Still Youngzedd.

Other moniker banned for one month for just uploading a banner.

I hope they don't ban u again for getting another moniker