Equities defy earnings, dividend declarations as investors lose N1.2 trillion

The Nigerian Exchange Limited defied full year 2023 earnings and half year , 2024 interim dividend declarations by listed firms as investors lose N1.2 trillion in one week over increased patronage of government bonds and other fixed income instruments.The Nigerian Exchange Limited defied full year 2023 earnings and half year , 2024 interim dividend declarations by listed firms as investors lose N1.

At the close of transactions yesterday, the total volume of trades declined by 65.3 per cent to 379.13 million units, valued at NGN8.71 billion, and exchanged in 10,096 deals. Transcorp Hotel and Custodian investment paid 10 kobo and 15 kobo dividend to shareholders. African Prudential paid 15 kobo and a bonus of one for every one share held. Okomu Oil also increased shareholders’ value with N8 dividend payout.

“As the market structure and fundamentals evolve, investors are advised to position themselves in stocks with sound fundamentals to navigate the prevailing conditions effectively.” The Nigerian Exchange Limited defied full year 2023 earnings and half year , 2024 interim dividend declarations by listed firms as investors lose N1.2 trillion in one week over increased patronage of government bonds and other fixed income instruments.

The Federal Executive Council meeting, presided over by President Bola Tinubu, has approved the sale of crude oil to indigenous refineries, including Dangote Refinery, in local currency, the Naira. Special Adviser to the President on Revenue, who doubles as the Executive Chairman of the Federal Inland Revenue Service , Zacch Adedeji, gave the indication…

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