The Nigerian Stock Exchange has adjusted the prices of three equities for dividend payment.
The NSE’s report for the week ended August 17, 2012, said the decision to adjust the prices followed the recommendation of the boards of the companies.
The companies affected were Scoa Nigeria Plc; Flour Mills of Nigeria Plc and Nigerian Bags Manufacturing Company Plc.
According to the report, the price of Scoa was adjusted for a dividend of 10 kobo per share, while the price of Flour Mills was adjusted for a dividend of N1.60 per share, payment of the dividend would also commence on September 17, 2012.
The report also noted that the price of BAGCO was adjusted for a dividend of 14 kobo per share while payment would commence on September 19, 2012.
The report noted that a total of 480 million ordinary shares were added to the issued shares of Premier Paints following the conclusion of its Special Placing having obtained all regulatory approval.
It also added that 142,092 ordinary shares of 50 kobo were added to the issued shares of Nigerian Breweries Plc in the week under review.
According to the report, this is on the conclusion of the Scheme of Merger between Nigerian Breweries Plc and Sona Systems Associates Business Management Limited and Nigerian Breweries Plc and Life Breweries Company Limited.
The NSE report also noted that Starcomms Plc’s shares were placed on full suspension on Friday, following the potential capital reconstructing exercise by the company.
In the Over-the-Counter Bond market, a turnover of 108.09 million units worth N99.79bn was recorded the previous week, in 739 deals, compared to 121.09 million units, valued at N113.71bn exchanged the preceding week, in 842 transactions.
During the week under consideration, the market capitalisation declined by 0.41per cent to close at N7.37tn down from N7.40tn recorded at the beginning of the week.
Similarly, the NSE All-Share Index depreciated by 0.42 per cent to close at 23,141.08 points from 23,239.03 points.
Dangote Cement Plc recorded the highest share price loss in the week under review, dropping by N4.98 to close at N110.02 per share.
Mobil Oil Nigeria Plc followed with a loss of 4.98 to close at N111.51 per share and Arbico Plc dipped by N1.52 to close at N14.09 per share.
Source: Punch/Udeme Ekwere
