₦airaland Forum

onegentleguy:
No... actually the price of MACNICHOLS post bonus and dividend markdown should be N1.35 assuming a N3 pre-markdown price.

At 1st glance, the way to know is that a 1.2x multiplier effect on bonus will by implication, result to a 0.8x (80+%) drop-down impact on price. (pre-markdown peg)

Have highlighted these stuffs in time past.
...will just do a recap.
As I said then, use the formula:

1) Mp= Pbm- Dd... where a coy declares a dividend only.

2) Mp =Pbm- [Pbm(Br/Br+1)]... where a coy declares a bonus only.
And

3) Mp= (Pbm- Dd)/(1+Br)... where a coy declares both a bonus and dividend.
Pls pardon me, I initially made a mistake on the formula for the 3rd, but which has now been modified. ...however, the 1st and 2nd remains the same.

Note: Mp is markdown price, Pbm is price before markdown, Br is the bonus ratio while Dd is the dividend declared.
I had proven these formulas back then so those wondering how they were derived might wish to surf through my past post for guidance.

Using the 3rd formula where MACNICHOLS applies...
Bonus ratio Br is 6 for 5 or 6/5
Dividend Dd is 0.03k
Now if we assume a Pre Markdown price of N3, then Pbm= 3... Hence Markdown price, Mp= (3- 0.03)/(1÷6/5)= (2.97)÷(11/5)
In math, 1/v÷y is equal to 1x y/v (the Rule of DDoN)... So (2.97)÷(11/5) is the same as 2.97x5/11.
Hence Mp= 2.97x5/11= 14.85/11= 1.35.
This is the ACCURATE estimate!

In this instance, there'll be no need for an approximate or round off figure to the Mark down price since the company MACNICHOLS is a Penny stock tradable within the said peg of N1.35.
Depending on the coys pre-markdown price, Mp peg can always be computed using this guide.

Hope it's clear now.

Btw, for those who sent me Pms and messages asking what I'd do if I hold the coy (MACNICHOLS)...
Well, it depends on why you bought a stake in the company. ...was it with an INTENT to trade or invest?
While there are few positives looking at the coys last spate of FPs, I'd prefer to exit before Markdown.

A food for thought; Think of what the part in italics above can do to what in the short term, could've been due to you as a shareholder.
But then again, the company may have decided on this part for good reason. (that will be a discussion for another day)

CAVEAT: Pls read through my signature below.

Regards
#MODIFIED

Thanks a lot. Let me bookmark this post for future reference.

yMcy56:
It depends on the closing price as at 30/06/22.

Let's say it closed @N3 for instance, then:
Bonus markdown: 6÷5 x 3 = 3.6 ÷2 =1.8
So, the opening price by July 1st will be N1.80k

**Factoring in the 0.03k dividend will be : 1.80 minus 0.03 = N1.77k**

If the closing price is more than that, then expect opening price higher than N1.8 ........ following the calculation above.

** Hope this my calculation is correct: make I check again:
3÷2 =1.5.......Opening price should be less than 1.5 I think.....

Lol. I don't know which one is correct now. But the coco be say it will be between 1.5 and 1.8 if the closing price is N3. Thanks.

yMcy56:
DIVIDEND QUALIFICATION DATES IN JUNE 2022
1. DANGSUGAR: N1 ..........01/06/22
2. ECOBANK: $0.0016........03/06/22
3. SKYWAY: 0.0165............03/06/22
4. UACN: 0.65k .................07/06/22
5. COURTVILLE: 0.04k............09/06/22
6. CAP PLC:. N1.25 ...............11/06/22
7. BETAGLASS: N1.10 + 1:5 Bonus......... 10/06/22
8. MCNICHOLS: 0.03k + 6:5 Bonus...........30/06/22


** DANGCEM and CONOIL marked down today 31/05/22 for N20.00 and N2.50k Dividends**

Pls what would be the price of MCNICHOLS after markdown?

dharpzee:
Yes, came in on friday 27th May

Thanks.

Pls has anyone received Glaxosmithe dividend?

FBNH result. 35kobo dividend

https://doclib.ngxgroup.com/Financial_NewsDocs/36072_FBN_HOLDINGS_PLC%20_AUDITED_FINANCIAL_STATEMENT_FOR_2021.pdf

ololufemi:
The PFC business was a forced one because of the acquisition of Diamond Bank PLC and its subsidiaries. Also, that PFC business is not a cash cow like the PFA business. Access PLC used to be a shareholder in Stanbic IBTC PFA but had to sell their shares as a result of the acquisition.

The PFA business is like an organization printing money. You earn an administrative fee of NGR100 per month per account, earn a management fee as well as an incentive fee for significant growth in your assets under management. Imagine how much they will earn with the appreciation the market has witnessed year to date.

If you have a million customers, the administrative fee will be NGR300 million a quarter and NGR1.2 Billion a year for administrative expenses which are exclusive of your management and incentive fees.

The fees are shared between PFAs, PFCs and PENCOM. The fee is N100 per remittance and management fee.

Wapgod:
How is it good news?
If the business is so good why sell it?
There was no reason given for the sale to shareholders.
Maybe Access bank insiders can shed a light on this?

They purchased the PFC not PFA, which is good as they are only 4 in the country. With the purchase it will be 3 now as they will merge it First Pension Custodian. They only house pension funds for PFAs and earn fees from it. So the more funds the more fees...

sellydion:
Friend where do you do your borrowing and with what collateral?

Lol. My brother I have high credit worthiness

emmanuelewumi:
Banks dont accept shares as collateral, they prefer FGN bonds

The advantage of what you do for a living...

sellydion:
The best that could happen is not to borrow on margin, if done and a brutal bear market starts your broker would not be smiling.

If you can fund repayments through salaries, rents or dividend that is good.

Correct, which is why I don't borrow from stock brokers.

Plus10:
Nice Sir,before collecting the loan,did you plan paying it based on the dividend that would be received from the stock or on price appreciation?

Dividend, salary & other income. Never price appreciation.

sellydion:
Sir,
This against my rule no 1, never borrow to trade stocks

That used to be my rule until I discovered it is a yeye rule. I borrowed funds to buy MTN and NAHCO. My money is almost doubled in MTN. Have paid off NAHCO. MTN will be payed off by year end. My brother if you see cheap loan collect. That's how the rich get richer.

OBAGADAFFI:
Interesting.

MTNN current OS is 20.35bn.

Where can I get MTNN OS before the Pubilc Offer?

Check their 2020 financials

OBAGADAFFI:
Yes.

MTN just concluded thier Public-Offer

Nah. They didn't create new shares. Rather, MTN Mauritius sold some of their shares to the public, thereby reducing their share in the company.

OBAGADAFFI:
MTN is experiencing share dilution.

As for BUA, Rabiu is holding on 56.2% of BUA.

Did MTN create new shares?

onegentleguy:
Good that some persons are exiting their holding in INTEBREW to give room for more fresh funds to align.

...our journey to the 20th boulevard still very much intact.
As I said before; It won't be a smooth push up but forward we shall move!

It is well.

Joined you guys this morning. Looking forward to the ride...

MTN AGM live


https://www.youtube.com/watch?v=yMg6R90-AlE

leparj:
Good morning house. Trying to activate e-dividend mandate for GTCO shares I bought recently. I uploaded a filled and signed mandate form to DataMax registrars. Also sent to them a bankers confirmation of my signature. DataMax registrars replied that my e-dividend mandate will not be processed as they do not have a specimen of my signature. That it won't be processed until my stockbrokers (CSL) send a share transfer form to them through CSCS. Why a share transfer form when I am not selling or passing my shares to anyone? Is that the normal procedure? I have not had a similar experience in the past while activating e dividend mandate for any of my shares with other registrars.

That is the normal procedure. They won't activate it until your stock broker send them your share transfer form.

sonofElElyon:
Still interested in universal insurance? I'm selling jointly with chams ! Someone has reached out to me but just remembered you expressed interest. Mind's made up

Yeah. But I am not interested in Chams. Recently divested from Chams and not looking to back in.

veecovee:
Thank you all for the condolences.

Sorry no dey heal wound but it get wetin it dey do.

May the Lord direct you all to the right investments IJN

Sorry for your loss. Please accept my heartfelt condolence

Wapgod:
I am a bit confused, Did UCAP and Africa Prudential recently just invest in Heirs Insurance because Heirs Insurance has been in existence since 2015 based on their incorporation date?

Heirs Insurance Limited was formerly registered as a General Insurance Company by the Nigeria Insurance Commission (NAICOM) in
September 2020. The Company fully commence operations in 2021. United Capital Plc currently own 25% stake in the Company.

check note 22 of the financials for investments on Heirs Insurance

,

GANDALF1:
I think they are probably dumping for one or both of the reasons below;

1. They have information about the company that we do not have at the moment, or

2. They are evaluating the result deeper than we are doing here right now.

If you look at the results properly, you will notice that group financials grew, while the company financials dropped. Now, thats a warning sign.
The company is the engine room. The koko of the business

Such a drop in the profitability of the company signals that something went wrong in Q1 but that they were able to pull income from other sources (which we need to find out), in other to boost the group's results.

What do I know self?

Itibolibo like me

The company's financials is fine. The revenue increased significantly. Infact, the fees and commission which is the engine room increased by over 100%. The reduction PAT was because of a significant jump in professional fees which I believe to be a one-off payment and general administrative expense. The administrative expense also similarly increased in the group and I am suspecting it has to do with recruitments for newly created Hiers Insurance.

emmanuelewumi:
You want to borrow to buy, you are on another level.


What is your payment plan for the loan, I hope it is not through the capital appreciation of what you want to buy?

Payment will be made in a month from another proceed. It is a mid to long term investment because I noticed they are consistent with dividend payment and frequent bonuses. I need to know if it is a good buy at current price.

emmanuelewumi:
It is not listed on NGX, you have to open NASD account.


CSCS, Wamco, Niger Delta Exploration, Afriland Properties, UBN Properties, DUFIL ( makers of Indomie noodles), 11plc formerly known as Mobile Oil, Fan Milk etc are some of the companies on the NASD platform

Oga Emma, Pls is NAHCO a good buy at current price. I need a secondary opinion on it as I intend to borrow to fund the purchase. My analysis is telling me it is currently overvalued

Mpeace:
I have been holding some units of union bank for a while now. Yes we have seen some price appreciation since Titin trust bought majority shareholders out. My question now is: When are they going to buys we the Minority shareholders out as well?

Only Titan Trust can answer this question. But be cautious sha so that what happened to us with Ardova won't happen to you.

I don't know why it's people with nothing to contribute that makes the loudest noise. Keep quiet, no. Say something useful, no. What kind of thing is this?

lexy2lexy:
What’s happening in PZ? It has been rising steadily

Fantastic result. Over 400% increase in profit. Entered the ride at 5.6. My regret is that I didn't buy alot.

https://doclib.ngxgroup.com/Financial_NewsDocs/35381_P_Z_CUSSONS_NIGERIA_PLC%20_QUARTER_3_%20_FINANCIAL_STATEM.pdf

Prettylima:
Don’t forget the person/partner you are always comfortable to call, when you don’t have money.
Please when money comes remember to change their life too.
Am happy for them,
more life.

As I don't have anybody to call when I don't have money and don't need one either. When more money comes whose life should I change?

Mfunkynation:
Hahahahahahahahahahhah
wonderment plus sumptuous!
well seated

You have to declare for boys o

emmasoft:
Expect this type of bonus from companies who will opt for non cancelation of unissued shares between now and December this year as directed by regulators
Presco took the lead and now NPFMFB.

For companies with sound fundamentals, it will be a good experience for the shareholders as long as they are able to keep increasing their earnings.

Nice one. Na to hunt for companies with unissued shares be that. Do you have a list please or what's the simplest way to get the list?