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   Market Date: 28-08-2014   
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Cadbury declares 130kobo dividend

Category: Daily & Weekly Market Updates


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Cadbury declares 130kobo dividend Leading beverages manufacturing company, Cadbury Nigeria Plc, has announced a dividend of 130kobo for its year ended December 31 2005. The dividend, contained in the company’s audited results for 2005, was made available by the Nigerian Stock Exchange on Friday. Market response to the dividend announcement was negative as the equity price of Cadbury fell by 657kobo or 9.8 per cent from N67.04 to close at N60.47 per share. Some of the stockbrokers said that they were disappointed by the 130kobo because it was 30kobo lower than the 160kobo the company paid in 2004. Some of the brokers said that the reduction in dividend could be due to the dip in the company’s profit in 2005.While Cadbury’s turnover rose by 32 per cent or N7.3billion from N22.15billion in 2004 to N29.45billion in 2005, net profit dipped by 3.7 per cent or N0.1billion from N2.8billion in 2004 to N2.7billion in 2005. The directors, therefore, recommended a dividend of 130kobo per share. According to the company, its register would close on April 3, 2006, meaning that investors who buy the shares after that date will not benefit from the dividend. However, investors in construction firm, Cappa & D’Alberto Plc should expect a poor harvest for the year ending March 31, 2006. This follows the 79 per cent dip in net profit for the half-year ended September 30, 2005. Details of the results, showed that Cappa & D’Alberto recorded a turnover of N2.85billion in 2005, as against N2.33billion. But net profit dipped from N83.1million in 2004 to N17.7million in 2005. On the hand, electric switches manufacturing firm, Adswitch Plc, quoted on second-tier security sector, posted 97 per cent rise in profit for the half-year ended October 31, 2005. The company posted a turnover of N27million, up from N20.3million in 2004, while profit after tax grew from N2.6million to N5.13million in 2005. Meanwhile, the Nigerian Stock Exchange All-Share Index rose by 0.6 per cent amid a dip in volume and value of shares traded last week. The index closed at 24,093.55, just as the market capitalisation closed at N2.60trillion. Investors staked a total of N5.33billion on 448.4million shares in 20,541 deals, down from N8.7billion invested in 527.8million shares in 19,208 deals in the preceding week. The banking sub-sector remained the most active, accounting for 343million shares worth N3.4billion exchanged in 9,596 deals. Oceanic Bank International Plc, Access Bank Plc and Intercontinental Bank Plc led the sub-sectors, trading 82.879million shares, 66.7million shares and 49.086million shares respectively. - punch

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