₦airaland Forum

I’m expecting a N1.20 kobo dividend per share and a bonus share of 1:2.

ZENITH BANK PLC :  Zenith bonus expected
By Agency reporter
Published: Sunday, 1 Jul 2007

The stock recorded a new all time-high price of N66.14k on Thursday June 28, 2007. Investors are forward-looking to the bank’s full year results for the financial year ended June 2007.

Analysts posit that Zenith Bank’s earning per share for the year ending June 2007 will soar well above N2.00 against the trailing value of N1.90. This is premised on its outstanding performance in Q3-2007 with gross earnings of N62.66bn and PAT of N15bn as against N42.12bn and N8.86bn recorded in the prior year. Given the bank’s current shares outstanding of 9.256bn, a forecast EPS of N2.10 and above is easily achievable with a conservative growth rate of 45 per cent in earnings over. It will be recalled that the bank gave a dividend of N1.10 in the last financial year, representing the highest payout in the industry.

In the same vein, another market opinion holds that Zenith will surpass its peers with bonus declaration in addition to a very good dividend. They argue that the bank is well positioned and has the wherewithal to declare a good bonus, given its robust accumulated share premium, which stood at N67.76bn in the prior year 2006.
We speculate a target price of N70 and above given a good market sentiment and the anticipated results for full year ended June 30, 2007.

http://www.punchng.com/Articl.aspx?theartic=Art200707015384976

IBTC is the best.

<N18.

Around July 19th for Dangote Flour Mills.

Prospects of bonus, cash dividend drive up Zenith Bank price

What's your take on this bank?

I'm hearing July 9 for Dangote Flour Mills and December for Obajana Cement.

@easimoni

So, would you recommend I go with Vetiva instead of BGL?

@easimoni

What's the name of your current stockbroker? Why are you thinking about switching?

@easimoni

What's the name of your current stockbroker? Why are you thinking about switching?

BGL Securities or Vetiva as a Stockbroker? Please pick one and why?

BGL Securities or Vetiva as a Stockbroker? Please pick one and why?

BGL Securities or Vetiva as a Stockbroker? Please pick one and why?

Please share any good stockbrokers you know.

What of books and tuition for the children? Atleast N10m.

N10m bro.

@iyaegbe

Minimum to open an account:

IBTC - N10m
Zenith Securities - N5m
BGL - N1m (Fees are high)
Vetiva - N1m

@JoshO

How is BGL online and customer service. And what's your take on Zenith Securities and Vetiva? Thanks!

Please recommend a stock broker to use. Thanks!

Zenith Securities is N5 million
BGL is N1 million
Vetiva is N1 million

Please recommend your best stock brokers in Nigeria. Thanks!

Please advise me on the best stock brokerage firm to use in nigeria.  Thanks!

Boiled yam and scrambled eggs including the egg sauce.

Govt raises minimum fund portfolios for capital market
By Gbenga Agbana

The Minister of Finance, Mrs. Esther Nenadi Usman who announced the new minimum capital requirements, also approved a reduction in transaction costs in the capital market by about 40 per cent.

Under the new capital base regime, which takes immediate effect, the minimum paid up capital for issuing houses has been increased from N150 million to N2 billion, while broker-dealers' capital base has been increased from N70 million to N1 billion.
Clearing and settlement agencies are now to have a capital base of N1 billion up from N500 million while registrars are now to have N500 million, up from N50 million.

Underwriters, who before now had a minimum capital requirement of N100 million are now to have N2 billion, while that of fund/portfolio managers has been increased from N20 million to N500 million. That of corporate sub-brokers with a current capital base of N5 million was increased to N50 million.

The Finance Minister also announced a new minimum capital base of N2 billion for market makers.
However, some operators are not affected under the new regime. They include stock/commodities exchanges, capital trade points, commodities brokers, venture capital managers and individual investment advisers.

Others are consultants (individuals and corporate), rating agencies, corporate investment advisers and trustees. The decision, according to the minister, is to encourage a smooth take-off of these relatively new areas of capital market operations in the country.

Following the approvals, the Securities and Exchange Commission (SEC), has given existing operators up to December 31, 2008 to comply with the new capital requirements either through capital increase or mergers/acquisitions adding that no extension of date will be granted.

Usman also approved an 80 per cent mandatory underwriting for Public Offers and a code of conduct for shareholders' associations in the country.

By the approvals, average equities transaction cost in the primary market, which currently stands at 6.92 per cent, has been reduced to 4.32 per cent, while transaction cost on bonds has been reduced from 7.03 per cent to 4.79 per cent.
In the secondary market, total transaction costs on equities have also been slashed.

For instance, equities transaction cost on the buy side has been reduced from 4.07 per cent to 2.36 per cent, while the commission on the sales is now 2.65 per cent from the earlier cost of 4.12 per cent. This took effect from yesterday.
Besides, underwriting of all offers has now been made mandatory and all Public Offers and Right Issues will henceforth be 80 per cent underwritten.

This, according to SEC, is to reduce the incidence of under-subscription and ensure that the issuing houses and stockbrokers have higher stakes in the issues they bring to the market.

I'm Still in the Race, Utomi Insists

This Day (Lagos)
NEWS
April 18, 2007
Posted to the web April 18, 2007
Lagos

Presidential candidate of the African Democratic Congress (ADC) Prof. Pat Utomi has refuted claims by certain news media that himself and other candidates had withdrawn and were calling for a pullout from the presidential election.
Utomi in a statement by his campaign organisation said that he is still in the race, his campaign continues, and he remains and that he was convinced that he is the best material for the presidency as well as remaining the peoples' choice.
He stated that on the contrary, the group resolve is getting stronger, the status quo remains, and the group is developing its resolution-document which calls on the Nigerian people and the international community to reject the elections so far and see it as a big fraud pre-decided and manipulated accordingly by the PDP.
With due respect to the various international observers, Utomi stressed that they have been hoodwinked by the riggers to interpret the peaceful conduct of the Nigerian people at the polls as freeness and fairness of the voting exercise. Utomi in his capacity as the chairman of the Granite Coalition political parties group hereby calls for an abortion and postponement of the remaining election process in view of the various levels of irregularities, malpractices, and fraud by security agents and INEC officials in last Saturday's elections.
Prof. Utomi hereby also called on Nigerians and all people of goodwill to see the numerous, spontaneous, certainly unrelated, and diverse unrests following the Saturday elections results announcement as the attestation to the rejection of the process by Nigerians.
Meanwhile, Pat Utomi, will from today, wind down his campaign activity with a symbolic interactive assembly where he addresses a gathering of various South-south and South-east peoples' unions, communities, political associations, youth movements, and pressure groups is scheduled for the FCT Abuja.
The Abuja session which ends Prof. Pat Utomi's 'Oil from Curse to Blessing' nationwide tour , had formally commenced at Oloibiri, Bayelsa state and was scheduled to end with a grand rally at Oloibiri. The venue change is due to recent political developments among which is Utomi's adoption as the chairman of the ongoing political parties'
'Granite Coalition' session by members which include the Action Congress (AC) and the All Nigeria Peoples Party (ANPP) among others, in Abuja. Following Abuja, Utomi will on Wednesday visit major marketplaces in Lagos state to interact with executives and traders of the populous Balogun, ASPAMDA Mushin, and Ladipo markets. Finally in Lagos on Thursday, Prof. Utomi who yesterday released the ADC Ideology Manifesto and Policy Plank titled 'Liberation of the People from Poverty; Proclaiming Prosperity and Progress' for public distribution, will address the executives and members of the Manufacturing Association of Nigeria (MAN).

Transcorp Sends Longe on Compulsory Leave
By Eromosele Abiodun, 04.12.2007

The embattled Transnational Corporation of Nigeria Plc (Transcorp) yesterday confirmed that its Group Managing Director, Mr. Bernard Longe, has been directed to proceed on compulsory leave.
The company, in a statement signed by its Head, Corporate Affairs, Mr. Adedayo Ojo, said the Board of Transcorp took the decision to enable the Board committee fully investigate the circumstances in which, Mr. Longe left First Bank of Nigeria Plc.î
It explained that ìthe goal of the inquiry is to ensure that Transcorp is in compliance with the Nigerian Stock Exchange (NSE) directive that indicted and/or dismissed Chief Executive Officers of quoted companies will no longer be allowed to occupy executive level positions in publicly quoted companies.”
Meanwhile, in the interim, Ojo said the Board of Transcorp has appointed a non-executive director, Mallam Munir Jaíafaru, who has occupied the position of Director-General of the Nigerian Maritime Authority (NMA) in the past, to act as Group Managing Director pending the outcome of the inquiry.
According to unconfirmed report, the current President of the Exchange, Oba Otudeko, who was and is still a Director in First Bank where Longe ( the then MD of the bank) was sacked over the NITEL privatization debacle in 2001 when the bank had to forfeit $131 million it had paid for the preferred bidder (Investors International Limited of London (IILL), had allegedly written Transcorp couple of weeks ago drawing its attention to the fact that the NSE rules bars the appointment of an executive to a quoted company if that executive had been fired by another one in the past.
However, Transcorp intended to comply but had to bid for time as the directive coincided with its Initial Public Offer (IPO). Complying with the directive would have scared away investors.
In a related development, the Exchange yesterday announced that the lifting of technical suspension placed on the market price of Transcorp was done in error.
Senior Manager Corporate Affairs, NSE, Mr. Sola Oni, who confirmed the error in a chat with THISDAY yesterday, explained that technical suspension is lifted when documentation of an offer has been concluded.
The documentation of the Transcorp offer has not been concluded so the technical suspension was lifted in error. There are nine stages for quotation, the last stage is listing, which means everything has been concluded” he explained.
On whether the Transcorp public offer was under subscribed by 70 percent, Oni stated that you cannot determine whether an offer has been over or under subscribed until collations have been concluded.
Given this scenario, Oni said the share price of Transcorp “remains suspended until collations of the public offer have been concluded”.
Transcorp’s share price as at the close of business yesterday therefore returned to the status quo - N9.71, the same price it was last December when the company announced its decision to raise funds from the market after a successful rights issue.

Please post the list of companies that have filed for an initial public offering (IPO) common stock for 2007.

When is the IPO date and offer price range?

It will be going for N10/share

How does the dividend payout process work in Nigeria? Do they mail you a check or what?

The minimum of N1.2 million is too much for the average working person in Nigeria.

According to the chairman of Transcorp, Dr (Mrs.) Ndi Okereke Onyiuke, “This will mean that our people both here as well as in Diaspora can invest their savings in Transcorp and make superior returns. In the process, they will be part of the New Nigeria".