The last is yet to be heard from Union Bank Nigeria plc as it posted an excellent financial year end result together with a dividend payment and bonus issue. The company which recently shelved its plans to raise additional funds from the market due to certain reasons perceived to be connected to the current situation of the market is proposing to give a dividend payment of N1.00k and a bonus issue of 1 ordinary share for 6 as compared to 90kobo and 1 for 5 which it gave to its shareholders in its 2007 financial year end.

A summary of the results showed that its turnover experienced a growth of 26.6 percent to N112.989 billion. Profit before tax increased 87.81 percent to N33.012 billion while profit after tax moved to N26.855 billion indicating an increase of 93.54 percent.
Closure of register and payment date is November 17th and December 3rd.

Eterna Oil and Gas plc.

In the same vein Eterna oil and gas plc also made available its third quarter results for the period ended 30th September, 2008. Highlights of the results showed that turnover increased by 144.54 percent to N9.960 billion. Profit before tax grew by 220.89 percent to N123.24 million while Profit after tax increased from a loss of N101.946 million to N86.268 million signifying an increase of 184.62 percent.

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