Last week, Nigerian stocks posted their biggest return in 17 weeks, garnering strength from a series of strong earnings reports by companies.
And the prospects for more upbeat financial performances in the coming days seem to be exciting as Africa’s largest economy steadily heals from the ravages of the pandemic.
The shape of things to come in the entire economy could be largely carved by the performance of the Big 5 Banks (Nigeria’s five biggest banks by asset), already heralded by the approval on Friday of Zenith Bank’s half-year audited results and interim dividend announcement, which should set the bar for the rest in that fold and perchance the banking industry.
PREMIUM TIMES has assembled a number of stocks with fundamentals and other potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.
The selection, a product of analytical market watch, offers a guide to entering the market and take strategic positions in hopes that equities will gain value with the passage of time, particularly in the short term.
This is not a buy, sell or hold recommendation. You may have to involve your financial advisor before taking investment decisions.
ZENITH BANK PLC
Zenith announced last week the board’s intention to reward shareholders with an interim dividend payout for the period covering January through June. The details of the cash reward are to be announced any moment soon.
TOTAL NIGERIA PLC
Total has declared an interim dividend of N4 per share for half-year 2020, backed by its strong financials for that period that saw profit attain N8.066 billion, compared to a N537.188 million loss recorded in the same period of last year. Investors planning to reap from the largesse are to buy and hold the firm’s shares till at least August 13. Payment will follow on September 13.
Cutix has declared plans to simultaneously reward shareholders with bonus and dividend payout for shareholders following a promising half-year scorecard.
The company will offer stockholders a bonus of one new share for every one already held alongside a dividend per share of N0.15.
JAIZ BANK PLC
Currently, Jaiz trades well below its intrinsic value, making it a cheap stock to buy. Another notable factor, which makes it attractive for investment, is the closeness of its price to its lowest point in 52 weeks.
SOVEREIGN TRUST INSURANCE PLC
Sovereign Trust makes this week’s pick for trading well below its real value. It has a PE ratio of 3.63 with an EPS of N0.08.
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