The Nigerian Stock Exchange has adjusted the prices of three equities for dividend payment.

The NSE’s report for the week ended September 13, 2013, said the decision to adjust the prices followed the recommendation of the boards of the companies.

The companies affected are Honeywell Flour Mills Plc, Continental Reinsurance Plc and Chellarams Plc.

According to the report, the price of Honeywell Flour was adjusted for a dividend of 16 kobo per share and the amount would be paid as from September 25, 2013.

Also, the price of Continental Reinsurance was adjusted for a dividend of 10 kobo per share, which would be disbursed to shareholders as from September 18, 2013.

The report noted that Chellarams Plc was adjusted for a dividend pay-out of five kobo while payment of the dividend will commence on October 26, 2013.

In the Over-the-Counter Bond market, a turnover of 88.189 million units worth N91bn was recorded last week, in 349 deals, compared to 114.94 million units, valued at N119bn exchanged the preceding week, in 470 transactions.

According to the report, lower activities were recorded in the bond market, exchange traded funds and equities markets. Also, the major market indicators closed the week, on a downward trend as in the preceding week.

In the week under review, a total of 1,071 billion shares, worth N13.13bn were exchanged by investors, in 23,190 deals, compared to 1.138 billion shares, valued at N14.130bn exchanged the preceding week, in 24,122 transactions.

The report noted that 120 units of NewGold ETFs valued at N260,525 were exchanged in four deals compared to 1,372 units, worth N2.984m exchanged the previous week, in two deals.

In all, 33 equities appreciated in price last week, with Jos International Breweries Plc leading the chart with a gain of 60.34 per cent or N2.83 to close at N7.52 per share.

Vono Products Plc followed on the price gainers’ chart, rising by 39.57 per cent or 55 kobo to close at N1.94 per share.

Other gainers included Portland Paints and Products Nigeria Plc which rose by 20.84 per cent and IHS Plc, which gained 18.21 per cent.

On the other hand, 40 stocks recorded price loss, with International Energy Plc leading the chart with a loss of 24.10 per cent to close at 63 kobo per share while Multi-Trex Integrated Foods Plc lost 17.46 per cent or 11 kobo to close at 52 kobo per share.

Source: Punch (by Udeme Ekwere)