March 26, 2018/NSE Newrest ASL Nigeria Plc hereby announce as follows: Proposed Dividend: A Final Dividend of 18 Kobo per 50 Kobo ordinary share, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business […]
Results & Dividends
Dangote Cement Q4 2017 Results Review: Maintaining Neutral Rating
Culled—-Proshare March 26, 2018/FBNQuest Research Price target up slightly despite 7% avg. cut to our EPS forecasts Dangote Cement’s (DangCem) Q4 2017 PBT was broadly in line with our forecast. However, PAT surprised negatively because of a higher-than expected tax rate of 84% (vs. our 11% estimate) and a negative […]
Flour Mills of Nigeria Plc: Earnings outlook still strong, even as new shares shrink TP
March 26, 2018/Cordros Capital Following the conclusion of the NGN38 billion Rights Issue (RI) and our recent discussions with management, we revise our TP and earnings estimates for FLOURMILL. Feedback is that the RI was successful (oversubscribed). On net, we (1) increase the post-rights shares outstanding by 56% to 4.1 […]
