In a month, the share price of aviation company, NAHCO Plc, appreciated by 42.50% to close at N5.70 per share, taking the market capitalization to N9.26 billion.
The growth in share prices which was recorded by the company can be attributed to the impressive Audited financial performance declared recently for the period ended, December 31, 2021.
In addition, the company’s shares improved on the back of investors’ dividends and bonus issue anticipation, as announced earlier this month.
Hence, the rally in the shares of the company resulted in a gain of N2.76 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
- The shares of the quoted company increased from N4.00 per share as at March 14, 2022, to N5.70 per share, on April 14, 2022, to represent a growth of 42.50% which in monetary terms is N1.70.
- The buy interests witnessed in the shares of NAHCO Plc positively influenced the company’s market capitalization from N6.50 billion to N9.26 billion at the end of the day’s trading activities, taking the gains to N2.76 billion.
- The shares of the company have gained 52.41% from year-to-date, starting the year at N3.74 and currently traded at N5.70.
- The company’s shares are currently trading 2.56% lower than their 52-week high at N5.85. However, the shares of the company have returned about 183.58% gains for investors who bought them at their 52-week low trading price of N2.10 per share.
What you should know
- As contained in the company’s Audited Financial result for the year ended December 31, 2021, a dividend of N.041k per share, amounting to N665 million, as against N203 million paid in 2020, was proposed at the board meeting held on 29 March 2022 and subject to the approval at the Annual General Meeting.
- The Directors of the company recommended a script issue of (1) unit of shares for every five (5) units of shares held by existing shareholders as fully paid-up shares amounting to N162 million (Gross of withholding tax) to be capitalised from retained earnings.
- NAHCO Plc has released its Audited 2021 financial results for the period ended 31 December 2021, reporting a profit of N772 million, representing a 155.39% growth year on year. Revenue of N10.23 billion was reported in the full-year period compared to N7.13 billion in the same period of 2020.
- Earnings per share was recorded as N0.46 kobo against N0.18 kobo recorded in the corresponding period of 2020. Subscribe to the Nairametrics Stock Select Newsletter to view our stock pick.