Corporate actions are decisions taken by companies’ boards of directors or management teams, that could have impacts on the firms themselves or shareholders.
Examples of corporate actions include the release of quarterly and full year results, payment of dividends, closing of shareholders’ registers, announcing qualification dates and Annual General Meeting (AGM) dates. Here is a review of corporate actions that took place last week Results released
Nigerian Breweries FY 2018
Nigerian Breweries released its audited results for the 2018 financial year after closing hours. Nairametrics had earlier placed the stock on its watchlist last week. While revenue dipped slightly, profit before tax and profit after tax fell by over 30%.
The company attributed the poor results to the increase in excise duties and a challenging operating environment.
The company declared a final dividend of N1.83 per share. March 6, 2019 has been fixed as qualification date, while shareholders’ register will be closed from March 7 to March 13, 2019. Payment date has been fixed for the March 20, 2019, and AGM Date is scheduled for Friday, May 17. Transcorp Hotels FY 2018
Transcorp Hotels Plc released its results for the 2018 financial year. They reflected increases in both topline and bottom-line, with revenue increasing by 26% and profit after tax rising by about the same margin.
The firm has declared a dividend of N0.15 per share. Transcorp Plc
Parent company, Transcorp Plc released its results on Friday, a few days after. The results were quite positive with revenue up by 30%, and profit after tax up by nearly 100%.
The company has declared a final dividend of N0.03 per share. Qualification date is February 28, 2019. The shareholders’ register will be closed from March 1 to March 5, 2019. Payment date has been set for March 19, 2019. AXA Mansard Halts Hospital Project
AXA Mansard released resolutions from its board meeting held on the 13th of February, 2019. The board approved its results for the 2018 financial year and gave an update on its hospital project.The project announced in 2017 has been put on hold due to unforeseen circumstances. The board of directors directed management to embark on further studies, in order to determine an appropriate structure of intervention within the Nigerian Healthcare delivery system. A Valentine’s gift Newrest ASL Nigeria Plc released its results for the 2018 financial year on Valentine’s Day. Revenue was up […]
