Just saw an e-mail from Meristem Registrars(sent yesterday) informing me that withholding tax was not deducted from the FBNH dividend I was paid. That they want to reverse the entire dividend and then pay me the dividend after deducting the 10 % WHT.

Na wao.
Is this how these things are done?
I thought they deducted the WTH.
I have never had this kind of experience. And I have been collecting dividends for over 15 yrs now.

And I have withdrawn the entire dividend and reinvested it by buying more shares.
Just replied them so. That it will not be possible for them to reverse the entire dividend cos I have reinvested it.

leparj:
Just saw an e-mail from Meristem Registrars(sent yesterday) informing me that withholding tax was not deducted from the FBNH dividend I was paid. That they want to reverse the entire dividend and then pay me the dividend after deducting the 10 % WHT.

Na wao.
Is this how these things are done?
I thought they deducted the WTH.
I have never had this kind of experience. And I have been collecting dividends for over 15 yrs now.

And I have withdrawn the entire dividend and reinvested it by buying more shares.
Just replied them so. That it will not be possible for them to reverse the entire dividend cos I have reinvested it.

Meristem are not so efficient in handling such a big company like FBNH. First registrars were doing a wonderful job, and had more branches across the country.

Mpeace:
Meristem are not so efficient in handling such a big company like FBNH. First registrars were doing a wonderful job, and had more branches across the country.

It is appearing so.
Wondering why the change just before the dividends.
Sincerely, I have reinvested the whole dividends.
I just hope and pray they will understand with me.

I don't even ve the withholding tax now to pay back to them.
But I could pay that back to them in a week's time or so.
Only the WHT which is 10%.

leparj:


It is appearing so.
Wondering why the change just before the dividends.
Sincerely, I have reinvested the whole dividends.
I just hope and pray they will understand with me.

I don't see how there is any wrong on your part for utilizing dividend funds paid into your account. They should patiently wait until such a time you are able to fund your account before taking whatever the computed wht amounts to. But their personnel responsible for such blunder has probably already been shown the way out

I am just thinking of the legality of them reversing funds from my account without my consent

sirrotex:
I am just thinking of the legality of them reversing funds from my account without my consent

It is legal according to CBN guideline on instant payments. They didn't reverse mine although it was paid late.

Mpeace:
Meristem are not so efficient in handling such a big company like FBNH. First registrars were doing a wonderful job, and had more branches across the country.

Actually, Meristem has always been more efficient than First registrars.

This is the first FBNH dividend payment after the Migration from the First registrars.

I suspect they might be having issues with the FBNH Sharehoders database from First registrars.

Some have been paid already. Seems they have to do it batches, because of the volume.

OBAGADAFFI:


Actually, Meristem has always been more efficient than First registrars.

This is the first FBNH dividend payment after the Migration from the First registrars.

I suspect they might be having issues with the FBNH Sharehoders database from First registrars.

Mpeace:
Today 23rd payment date for uacn. Their dividend came in promptly. I only have 500 units for remembrance sake.
But fbnh, 3days after payment date, meristem registrars have nothing to say about non payment of many investors.

I want to start investing in stocks
I dunno Brokers that I could use. And what are the process I need to follow, do I need to pay what are the details I need, thanks.

dharpzee:
Some have been paid already. Seems they have to do it batches, because of the volume.

Yes, got mine yesterday.

Good day Fam -- Based on the current price which stock will give good returns on inter div
Interim div tradition .. ACCESS -25k
GTB -30k
UBA-20k
ZEE- 30k

Will there be any for UBCAP ?
WAPCO ?

Thanks sis mcy56 ..my good sis

My preferred brokers/platforms;
Morgan capital
Meritrade (meristem)
Trove

Marscom:

I want to start investing in stocks
I dunno Brokers that I could use. And what are the process I need to follow, do I need to pay what are the details I need, thanks.

Kindly log into www.meritrade.com and open an account with Meristem Stockbrokers ltd

Marscom:

I want to start investing in stocks
I dunno Brokers that I could use. And what are the process I need to follow, do I need to pay what are the details I need, thanks.

lancee:
Good day Fam -- Based on the current price which stock will give good returns on inter div
Interim div tradition .. ACCESS -25k
GTB -30k
UBA-20k
ZEE- 30k

Will there be any for UBCAP ?
WAPCO ?

Thanks sis mcy56 ..my good sis

Best interim dividend payers used to be Stanbic @ N1
Others are
Mtn
Total etc

Mpeace:
Best interim dividend payers used to be Stanbic @ N1
Others are
Mtn
Total etc

Noted boss ..Thanks

lancee:
Good day Fam -- Based on the current price which stock will give good returns on inter div
Interim div tradition .. ACCESS -25k , GTB -30, UBA-20k, ZEE- 30k

Will there be any for UBCAP ? WAPCO ?

Thanks sis mcy56 ..my good sis

Among the 4, UBA or ACCESS appears better for interim than others.

Let's look at it this way using N1M as Capital at CP (excluding fees) and previous interim payout as consideration:
* ZENITH @21.75 = 45,997 units x 0.30 = N13,799.10
* GTCO @20.90 = 47,846 units x 0.30 = N14,353.80
* ACCESS @9.50 = 105,263 units x 0.25 = N26,315.75
* UBA @7.50 = 133,333 units x 0.20 = N26,667.00

** UCAP doesn't pay interim.
** WAPCO paid special interim Div in 2021 FYE, may just be a one-off thing, except there's going to be a surprise again this year.

yMcy56:

Among the 4, UBA or ACCESS appears better for interim than others.

Let's look at it this way using N1M as Capital at CP (excluding fees) and previous interim payout as consideration:
* ZENITH @21.75 = 45,997 units x N13,799.10
* GTCO @20.90 = 47,846 units x 0.30 = N14,353.80
* ACCESS @9.50 = 105,263 units x 0.25 = N26,315.75
* UBA @7.50 = 133,333 units x 0.20 = N26,667.00

** UCAP doesn't pay interim.
** WAPCO paid special interim Div in 2021 FYE, may just be a one-off thing, except there's going to be a surprise again this year.

Thanks sis ..exactly whats on my mind ..I think uba /access better for now when considering inter- div pymnt
For final zee ,gtco may do better in terms of cap appre and div pymnt

Was thinking ucap and wapco may wan surprise ..we see

lancee:
Thanks sis ..exactly whats on my mind ..I think uba /access better for now when considering inte- div pymnt
For final zee ,gtco may do better in terms of cap appre and div pymnt

Yes. For Final Dividend, ZENITH/GT carries higher mark........all things being equal.

yMcy56:

Yes. For Final Dividend, ZENITH/GT carries higher mark........all things being equal.

On same page with u sis

leparj:


It is appearing so.
Wondering why the change just before the dividends.
Sincerely, I have reinvested the whole dividends.
I just hope and pray they will understand with me.

Abeg return the extra make them see money pay us. Lol
I have not seen shishi

I got this message from one of my stockbrokers



We are pleased to inform you that the Dangote Industries Funding PLC (the “Issuer”) Series 1 Bond offer comprising of Tranche A – 7-year and Tranche B – 10-year, Fixed Rate Senior Unsecured Bonds, under its NGN300 billion Debt Issuance Programme (the “Offer”) is NOW OPEN and scheduled to close on Thursday, 30 June 2022. The Issuer is a funding vehicle incorporated by Dangote Industries Limited (“Dangote Industries”, “DIL” or the “Sponsor”) to access the domestic capital market.



Dangote Industries is one of the leading, diversified and fully integrated conglomerate with operations in Nigeria and Africa with 11 distinct business lines across a wide range of industries, including cement, sugar, salt, condiments, packaging, energy, fertiliser and petrochemicals.



DIL is currently rated AA+ by GCR and AA (ngr) by Fitch Ratings, and plans to utilise the net proceeds from the Series 1 bond issuance to part-finance the Dangote Petroleum Refinery Project which is currently scheduled to commence operations in the first half of 2023.



The price guidance for the Series 1 bonds are 12.25% – 12.75% and 13.00% – 13.50% for the Tranche A, and B bonds respectively.



Other indicative terms of the Offer are as presented below:


Issuer

Dangote Industries Funding PLC

Sponsor

Dangote Industries Limited

Co-Obligors

Dangote Oil Refining Company Limited and Dangote Fertiliser Limited

Programme Size

NGN300 billion

Issue Size

Up to NGN150 billion across both tranches (with the option to upsize up to the programme limit of NGN300 billion)

Issue Description

Series 1 Fixed Rate Senior Unsecured Bonds

Joint Issuing House

FCMB Capital Markets Limited

Issuer Rating

AA+ (GCR); AA (ngr) (Fitch)

Issue Rating

AA+ (GCR); AA (ngr) (Fitch)

Tranche

A

B

Tenors

7 Years

10 Years

Pricing Range

12.25% - 12.75%

13.00% - 13.50%

Maturity Date

[?] 2029

[?] 2032

Offer Open

Thursday, 23 June 2022

Offer Close

Thursday, 30 June 2022

Par Value / Issue Price

NGN1,000 per unit/100% of Par Value

Offer Mode

Offer for Subscription via Book Build

Coupon Basis

Semi-annual, Fixed Rate

Units of Sale

Minimum of NGN10,000,000 (10,000 units at NGN1,000/unit) and multiples of NGN1,000 thereafter

Redemption / Payment Basis

Bullet repayment

Relationship between the Issuer and Sponsor

The Issuer is incorporated as a wholly owned subsidiary of the Sponsor

Listing

FMDQ Securities Exchange Limited and/or Nigerian Exchange Limited

Use of Proceeds

Part-financing of the Dangote Petroleum Refinery Project



For more information, please refer to the documents listed below, which can be accessed through this link



Shelf Prospectus
Programme Trust Deed
Deed of Undertaking
Series 1 Red Herring Tranche A and B Pricing Supplements
Series 1 Tranche A and B Trust Deeds
Valid PenCom Compliance Certificate
GCR Issue and Issuer Rating Reports
Fitch’s Ratings Report
Audited Financial Statements (2016 to 2021)
Commitment Forms for Tranche A and B
HNI Declaration Form

PZ unaudited financial. I am guessing we will be expecting juicy dividend.

https://doclib.ngxgroup.com/Financial_NewsDocs/36207_P_Z_CUSSONS_NIGERIA_PLC%20_QUARTER_4_FINANCIAL_STATEMEN.pdf

Mpeace:
Abeg return the extra make them see money pay us. Lol
I have not seen shishi

Lol.
I'm looking for money now sef.
To further position for interim dividend.
U will get yours.
Just be patient.

yMcy56:

Yes. For Final Dividend, ZENITH/GT carries higher mark........all things being equal.

.

But you may buy Zee and Gee, higher then for final dividend.

Hi all. Has anyone been able to log into Morgan's itrade? The link I have doesn't seem to be working.

Dollarwoman:
. But you may buy Zee and Gee, higher then for final dividend.

You're right.........but pls note that my response was SPECIFIC to the question asked by @Lancee.

He wanted to invest solely for INTERIM Dividend and asked which one to buy, guess he needed just one stock among his listed four.........reason for that reply.

Happy Sunday.

ggoldmine:
Hi all. Has anyone been able to log into Morgan's itrade? The link I have doesn't seem to be working.

Working fine.
You can follow this link:
https://itrade.morgancapitalgroup.com/customers/?expurl=/trader/c/

author=ggoldmine post=114173381]Hi all. Has anyone been able to log into Morgan's itrade? The link I have doesn't seem to be working. [/quote]

The link of Morgan's itrade had stopped working on Mozilla Firefox browser for the past five days, but is working fine on Chrome and other bbrowsers.

Mpeace:
My brother. Forget it. The country is gone and any lawyer that knows how things work will not even bother suing certain companies. Its no use. Many big companies in nigeria don't obey court orders any more. It started with the politicians and now many companies have joined. I am aware of some companies on NSE that flagrantly disobey court orders even with impunity. Zenith bank is chief, gtb, unity bank. If you are in the system you will understand better. Oando is also one of them, Dang group etc. You sue them its just a waste of money. They comply if they wish to.
Except a powerful figure with access to the cabal is interested, that oando delisting judgment stands.
Since they installed that new Chief justice things have not been the same.
My advice: just play along and pray they adequately compensate the said minorities. As for the 14 so called minorities that instituted the suit, be sure that they have already been adequately compensated.

@mpeace, please would like to speak with you privately if you don't mind. Please call me via

0703 145 8069, thanks

yMcy56:

Among the 4, UBA or ACCESS appears better for interim than others.

Let's look at it this way using N1M as Capital at CP (excluding fees) and previous interim payout as consideration:
* ZENITH @21.75 = 45,997 units x 0.30 = N13,799.10
* GTCO @20.90 = 47,846 units x 0.30 = N14,353.80
* ACCESS @9.50 = 105,263 units x 0.25 = N26,315.75
* UBA @7.50 = 133,333 units x 0.20 = N26,667.00

** UCAP doesn't pay interim.
** WAPCO paid special interims Div in 2021 FYE, may just be a one-off thing, except there's going to be a surprise again this year.

Please want to understand this more sis

Thank you. It worked.

yMcy56:

Working fine.
You can follow this link:
https://itrade.morgancapitalgroup.com/customers/?expurl=/trader/c/