₦airaland Forum

onegentleguy:
@mcy56 you might want to note the change/modification to my previous post on this.
Made a typo error on the formula but which has now been corrected.

N1.35 should be the absolute correct figure for the coy MACNICHOLS if we assume a pre-markdown price of N3.
And depending on the coys pre-markdown price, you can always calculate the Markdown price, Mp using the formula above.
Regards

Thanks boss.
I went over the formula again not long ago, said I'll call your attn to the "1 (one)" that appeared twice.
I also thought it was typo too.
I got around 1.48, then did another pry calculation and got around that 1.35 as well......of course using your formula as guide.
Will recheck the modification and also try it again.
Thanks sir.

Best Performing Nigerian Banks Judging By Q1 2022 Numbers
https://nairametrics.com/2022/05/31/exclusive-best-performing-banks-in-nigeria-judging-by-the-numbers-q1-2022/?amp=1

If you're holding your Zenith, hold tight, if it dips further and you have enough/spare funds, buy more to average down....

FIDELITY, WEMA, FCMB, UBA, FBNH, STANBIC, GT, ACCESS, STERLING, in fact, all the banks....,... get one position or the other....

** Overall Scorecard**
5 best Positions in descending order:
ZENITH: 1st position, followed by WEMA, followed by FIRST BANK, followed by STANBIC and the 5th position FIDELITY.

onegentleguy:
As I said then, use the formula:
• Mp= Pbm- Dd... where a coy declares a dividend only.
• Mp =Pbm- [Pbm(Br/Br+1)]... where a coy declares a bonus only.
And
• Mp= (Pbm- Dd)/(1-1/Br)... where a coy declares both a bonus and dividend.

Note: Mp is markdown price, Pbm is price before markdown, Br is the bonus ratio while Dd is the dividend declared.

Using the 3rd where MACNICHOLS applies...
Bonus is 6 for 5 or 6:5
Dividend is 0.03k
Now if we assume a Pre Markdown price of N3, then Pbm= 3... Hence Markdown price, Mp= (3-0.03)/(1-1/6÷5)
In math, 1/v÷y is equal to 1x y/v (the Rule of DDoN)
So 1/6÷5 is the same as 1x5/6= 5/6
Hence Mp= (2.97)(1-5/6)= 2.97x1/6= 0.495k

Hope it's clear now.

Firstly, let me say a big thank you to you for this response.
You didn't disappoint me........cos I'd thought: "only three ogas will likely answer me": Yourself, Emmasoft or Oga RabbiDoracle... ......
Thanks for your usual bailout in situations like this.

Back to the Formular/Calculations...
I looked at it this way from my pry schl level:

5:5 for instance is like saying 1:1
Now if it closes @N3, looking at bonus alone, the markdown will be N1.5 (3÷2).

So, 6:5 = ratio 1^1/5:1
....like that sha.

.That's why I don't think the markdown could be as low as 0.49/0.5.
Anyway thanks a lot sir. Will use the Formular to confirm the price after markdown. Really appreciate sir.

Some sell off in some of this popular and big caps.....
ZENITH and GTCO leading as usual......
They just want to be leaders in everything.......but these days in sell off mostly.
Nonetheless, the lower, the better......

Insurance and some small caps: not taking what they didn't give.....

Heishere:
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.

Yes around N1.44 or thereabout........cos the bonus giveaway (6) is more than the existing shares being considered (5).
If I remember how the calculation go be, I go re-post am.
** Did the calculation again and it gave 1.44 as opening price after markdown with 3 as e.g.**

Mpeace:
85million bid vs 57million offer. That one alone is confusing.

Na just gambling nah.
If Tony is ready to move, dem go move am o.
What if he comes in form of share buyback? Not saying he's coming for this o, just possibilities.....

Btw, Wetin push you inside WAPCO bus @30?

Heishere:
Pls what would be the price of MCNICHOLS after markdown?

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.....

Mpeace:
Totalenergies 17/06/22

TOTAL already passed.
Qualification date was 22/04/22......Payment date is 17/06/22

TRANSCORP
Looks like Tony and his cronies hands are now in it........Maybe the time we've waited for.....

NNFM Q4 AUDITED
https://doclib.ngxgroup.com/Financial_NewsDocs/36103_N_NIG_FLOUR_MILLS_PLC%20_AUDITED_FINANCIAL_STATEMENT_F.pdf

FLOUR MILLS Q4
https://doclib.ngxgroup.com/Financial_NewsDocs/36105_FLOUR_MILLS_OF_NIGERIA_PLC%20_AUDITED_FINANCIAL_STATEMEN.pdf

HONEYWELL FLOUR MILLS
https://doclib.ngxgroup.com/Financial_NewsDocs/36099_HONEYWELL_FLOUR_MILL_PLC%20_AUDITED_FINANCIAL_STATEMENT_.pdf

ELLAH LAKES Q3
https://doclib.ngxgroup.com/Financial_NewsDocs/36100_ELLAH_LAKES_PLC%20_QUARTER_3_%20_FINANCIAL_STATEMENT_FOR_.pdf

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. FBNH:. 0.35k......................13/06/22
8. BETAGLASS: N1.10 + 1:5 Bonus......... 10/06/22
9. 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**

DANGSUGAR!!!
Any news??
Oga Oracle mentioned about stocking up Sugar.....
Those guys just came from nowhere to queue after some cross deals @17.......looks like they queue to cross to themselves......

ABBEYBDS
Audited 2021 Financials......
https://doclib.ngxgroup.com/Financial_NewsDocs/36075_ABBEY_MORTGAGE_BANK_PLC%20_AUDITED_FINANCIAL_STATEMENT_F.pdf

ABBEYBDS Q1 2022
https://doclib.ngxgroup.com/Financial_NewsDocs/36077_ABBEY_MORTGAGE_BANK_PLC%20_QUARTER_1_%20_FINANCIAL_STATEME.pdf

megawealth01:
Too poor. Let's see how the market will respond to it

On the contrary, market is responding positively.......
Investors also looking at the PAT not only the Dividend payout........if the reason for cutting the Dividend was genuine, then some might be aligning with the future of the bank instead......My opinion.
Q1 was also impressive.

Seems you've been away for long in NSE.

FBNH Q1 2022
Impressive Q1......
Profit more than doubled......
https://doclib.ngxgroup.com/Financial_NewsDocs/36079_FBN_HOLDINGS_PLC%20_QUARTER_1_%20_FINANCIAL_STATEMENT_FOR_.pdf

FBNH CORPORATE ACTION
Final Dividend: 0.35k
Qualification Date: June 13, 2022
Payment Date: June 21, 2022
https://doclib.ngxgroup.com/Financial_NewsDocs/36076_FBN_HOLDINGS_PLC%20FBN_HOLDINGS_PLC_%20_CORPORATE_ACTION_A.pdf

AIRTEL
Officially moved up again.....
Now @1,717 .......Up with +N109!!

megawealth01:
You know sometimes this market comes up with the opposite of our expectations

You're just talking.

**

RabbiDoracle:
In 2016 when Fed started to raise rates and CBN also raised rates in response, all stocks in the banking sector rose. Using GTB as example, see the chart below.

Check the monthly charts of other banks as at that period and similar trends will be seen.

Boss you're doing well sir.

Maybe the rate hike is the catalyst the banks needed....

pluto09:
To some people, the good thing is for the shedding to continue..

You're right anyway.

pluto09:
Do you really call that dumping?
I am not sure any bank lost maximum 10%

Boss, the good thing is that the shedding didn't continue o.

BTW, @Locodemy was sighted earlier......
Loco come out and say something, me I don miss you for here....
Dont let any insult get to you.
If insult wan pursue person, I for don run tey tey for here, but I don decide say na me carry myself come here, na me go carry myself commot when I'm ready to leave.

megawealth01:
aren't the best season for some Nigerian banks!

Mega welcome.
Whatever, I'm sha happy that market stabilize.
Yesterday's dumping was somehow scary, must not continue like that. E no easy to dey lose money.

Besides, I think banking stocks aren't expensive. They didn't even partake in the recent bull, why will they still be shedding again? Not fair on people's investment nah.

Also, if interest rate goes up, wouldn't banks be a beneficiary?

E Ku Market oo.
See as everywhere silent...

The slogan is have a strategy in place........


NAHCO: Think it was mentioned that people should look for pullback here and key-in, I'm sure someone like Peter will be waiting @N2........

GTCO is back to 23.......now sighted @23.50........
ZENITH: Back to 24.....

FBNH : Holding up so far.......and somehow looking up....
I'm sure Otedola would have been watching all of Una dumping yesterday and saying "well done, keep it coming to my junction"

No dumping witness so far since market opens......
Low volumes across board so far......
Maybe it's too early to make this comment or not.......
Watching.......

Mpeace:
Yes, we pray they the give a special dividend wen their corporate announcement is out. But the result shows they are close to catching up with gtco and zenith.

Well, if there's no special Dividend self, I think First Bank will still do well going forward. Let them put the profit to good use.

I also want to believe that the Dividend payout must have been influenced by CBN.
First Bank might have opted to pay higher Dividend but CBN's approval would have been final....putting some other variables into consideration.

Make Una manage am like that if there's no addition and be hoping for higher pay in future.

Mpeace:
Poor dividend but excellent performance.
Eps from 2.45 to 4.17
Profit after tax from 89.7billion to 151billion.
The elephant could well be back again but lets look deeply into the result before concluding.

The Elephant is moving in the right direction from my layman's understanding. Standing back on one's feet takes time......
..but the Dividend could have at least be more than last year's own. It's not encouraging.

The way they were packing it, one would have thought there'll be special Dividend self.......would have been better if they'd released the result earlier too.

It's well. We wait for the Corporate announcement.

FBNH Q4 2021
PAT: Almost doubled.....
Div payout: Below expectations compared to profit made........
FBNH/Analysts to provide more explanations to this.
https://doclib.ngxgroup.com/Financial_NewsDocs/36072_FBN_HOLDINGS_PLC%20_AUDITED_FINANCIAL_STATEMENT_FOR_2021.pdf

NIG ENAMELWARE
https://doclib.ngxgroup.com/Financial_NewsDocs/36071_NIGERIAN_ENAMELWARE_PLC%20_QUARTER_4_FINANCIAL_STATEMEN.pdf

samguru:
https://thestreetjournal.org/just-in-buhari-relieves-godwin-emefiele-of-his-job-as-cbn-governor/

Seems Thestreetjournal took down the page.....

The argument now is that the President doesn't have the power to sack CBN Governor without the ratification of the Senate.....

So, we stay tuned to watch the drama....

** Update** https://nairametrics.com/2022/05/25/rumours-of-emefiele-sack-not-true-osita-nwanisiobi/

Dum20:
Not much has changed.
Pick any stock that has december as year end.
Compare its price in january, april, may, july, november in the past 5 years, you will see it is the same trend.
There is even a saying "Sell in May"

Ok sir/ma.
So "sell in May" wey don finish? Na now investors know say we dey in May and start to dey sell?
I don hear you sir.
Peter wey dey "Sell in May" dey busy on bargain table self.

samguru:
https://thestreetjournal.org/just-in-buhari-relieves-godwin-emefiele-of-his-job-as-cbn-governor/

Think this is the right step to take.....
He was hiding under the umbrella of the ruling party to flout laws .....
The other time, recently, Buhari was said to walk him out of his office for failing to resign, yet wanted to contest...
Imagine a whole CBN Governor claiming "a group of farmers" purchased presidential form for him.......these guys won't seize to amaze us.

AIRTEL
Officially moved with +138.00 amidst all the sell off!!
New price: N1,608!

FBNH on the contrary was dumped down to 10.45, but still lots of volume exchanging hands......
Mixed reaction from result expectations.....

MTNN sighted in the green territory.......after the earlier sell off...

Phlinx:
That would not make sense. Billions are involved control must be applied even during a pandemic, can't just be throwing prices around like that just out of the top of one's head

Lol.
My advice, just don't panic unnecessarily. That's this market for you.
If you don't know what to do: just do NOTHING.
In as much as you keyed into fundamentally sound stocks, it will still reverse these sheddings. The prices will go back up again with time.