Nigerian stocks were down for another week in the week that just went by, declining 0.67 per cent on account of profit-taking by traders.
The market could see a recovery in its weekly performance this week considering the generally strong corporate results that were issued last week.
More of such are expected this week as companies with outstanding corporate reports will be running against time to meet the Thursday quarter-end deadline for filing results.
We have assembled a number of stocks you should watch out for this week based on how the market fared last week and some fundamental factors.
This can 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 taking 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 but a stock investment guide. You may have to involve your financial advisor before taking investment decisions.
BETA GLASS
Beta Glass tops the list by virtue of its declaration of N1.10 per share dividend for full year 2021 and a bonus issue of 1 new share for every 5 held by shareholders.
The qualification date for the two rewards is June 10.
The firm’s Earnings Per Share (EPS) is N10, while its Price to Earnings (PE) ratio as of the last trading session was 5.3x.
CADBURY
Cadbury makes the pick for proposing to pay shareholders a dividend of N0.50 per share for full year 2021. That compares with the preceding year when the chocolate maker paid N0.18. The qualification date is May 12.
UNION HOMES REAL ESTATE INVESTMENT TRUST (UNION HOMES REIT)
Union Homes REIT appears on the selection for planning to reward stockholders with a dividend per share of N1.91 for the last financial year, 36 per cent higher than the N1.40 it paid for full year 2020.
TRANSNATIONAL CORPORATION OF NIGERIA (TRANSCORP)
Transcorp features on the list by virtue of declaring an increase of more than fivefold in after-tax profit for the financial year 2021.
The conglomerate recorded a profit after tax of N23.8 billion and a revenue of N111.2 billion.
PZ CUSSONS
PZ Cussons makes the list for reporting a leap in net profit by 455 per cent in the nine months to February 2022. The consumer goods manufacturer posted an after-tax profit of N5.6 billion and a revenue of N74.5 billion for the period.
CORNERSTONE INSURANCE
Cornerstone Insurance makes the selection for posting a net profit surge of 54 per cent for full year 2021, bringing its profit for the period to N3.5 billion. The underwriter has proposed a dividend payment of N0.05 per share compared to the previous year when it paid no dividend.
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