Goddy Egene
The nation’s stock market remained bearish last week leading to a decline of 0.15 per cent in the Nigerian Exchange Limited (NGX) All-Share Index to close at 38,808.01, while market capitalisation ended at N20.310 trillion.
The market had similarly dipped the previous week. However, unlike two weeks ago when the volume and value of trading also decline, investors staked more funds last week.
A total of 1.263 billion shares worth N10.759 billion were traded in 19,975 deals last week, up from 887.037 million shares valued at N9.193 billion that exchanged in 17,837 deals the preceding week.
After the earning season and as the second quarter began recently, investors are said to be realigning their portfolio with eyes on yield movements in the fixed income (FI) market. Also, the nation’s subsisting stagflation environment remains a potent threat to investment returns in the financial market.
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UAC records N7.1bn capital returns to shareholders
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By Peter Egwuatu
UAC Plc has recorded capital returns of N7.1 billion for its shareholders in the audited financial year ended December 31, 2020.
The audited results for the year under review according to the dispatch sent to the Nigerian Stock Exchange, NSE showed that revenue up three per cent from 2019 figure despite COVID-19 disruptions.
The Company recorded gross margin of 134 bases points, bps lower due to limited sales during the second quarter, Q2 2020, caused by restrictions to the movement of people and goods, as well as higher input costs.
Underlying operating profit was 26 per cent lower at N3.6 billion, largely on account of the paints segment.
By Peter Egwuatu
UAC Plc has recorded capital returns of N7.1 billion for its shareholders in the audited financial year ended December 31, 2020.
The audited results for the year under review according to the dispatch sent to the Nigerian Stock Exchange, NSE showed that revenue up three per cent from 2019 figure despite COVID-19 disruptions.
The Company recorded gross margin of 134 bases points, bps lower due to limited sales during the second quarter, Q2 2020, caused by restrictions to the movement of people and goods, as well as higher input costs.
Underlying operating profit was 26 per cent lower at N3.6 billion, largely on account of the paints segment.
By Goddy Egene
UAC of Nigeria Plc (UAC) has announced its audited results for the year ended December 31, 2020, showing a profit of N3.927 billion as against a loss of N9.256 billion in 2019.
The top-line showed a revenue of N81.357 billion, up by three per cent to N79.202 billion in 2019. Profit before tax stood at N5.121 billion in 2020, while PAT printed at N3.927 billion.
Earnings per share was 92 kobo compared with negative 183 kobo in 2019. The board of directors therefore recommended a dividend of 120 kobo. It comprises 65 kobo ordinary and 55 kobo special dividend.
Commenting on the results and corporate actions, Group Managing Director, Fola Aiyesimoju, stated: “UACs objective is to generate attractive long-term, risk-adjusted returns for our shareholders. I am delighted that the board approved N7.1 billion in capital returns to shareholders via a mix of dividends and REIT units totalling N2.47 per share or a 28.3 per cent return at current market values.