Afribank Plc declares dividend and bonus
August 4th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
For about 6 months or more with its share price on suspension, price movement on the shares of Afribank Plc resumed and it has been forward ever since then.The price was frozen at N11.51, but less than a month after lifting the suspension (between July 11,2007 to August 3,2007), the share price has risen to N26.25 indicating over 100 percent appreciation.
The company recently released its full year result for the period ended March 31, 2007, in which a bonus of 1 for 5 was declared alongside a dividend of N0.30. In the result, turnover for the year increased by 76 percent, from N15.60 billion the previous year to N27.50 billion in 2007. the profit after tax was no exception, as the bank grew this from N3.90 billion in 2006 to N7.20 billion in 2007, an increase of 85 percent.
Profit after tax climbed northward from N2.70 billion in 2006 to N5.2 billion in 2007 indicating an increase of over 90 percent. The closure date for the company register is August 20, 2007, while payment date is September 7, 2007.
Benue Cement Company
The company also released its half year result for the period ended June 30, 2007. in the result, turnover grew by 15.4 percent, from N2.6 billion in 2006 to N3 billion in 2007. There was a drop in profit, as this figure fell from N2 billion in 2006 to N1.5 billion in 2007.After tax profit was similar as there was also drop from N2 billion in 2006 to N1.5 billion in 2007.
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