Thursday, September 03, 2015/ 7.20am / The Nigerian Investor, firstname.lastname@example.org
Timely financial reporting by quoted firms remain one of the key way that companies can use to gain investors’ confidence in the market as such firms can be considered to be responsible and their boards performing its fiduciary responsibility.
Even with the recent launch of the NSE Premium Board, adhering to high corporate governance principle and disclosure is needed to get approval for the premium board status.
Based on the regulatory filing calendar published on the NSE website, quoted companies with 30th June as their reporting period for Q2 are expected to file their Q2’15 financial statements with the bourse by 31 July 2015 which is the filing due date.
A quick review of quoted firms listed on the Nigerian bourse that have released their Q2’15 Financial Statements reveals that ninety-three (93) firms have complied as at 1st Sept 2015.
Financial services sector recorded the highest level of compliance with thirty-eight (38) companies, closely followed by Industrial Goods and services sectors with ten (10) and nine (9) firms respectively while Construction/Real Estate sector has the least representation of one (1) firm only.
Furthermore, a review of corporate declarations in Q2’15 also reveals that nine (9) quoted firms has proposed interim dividend so far with the highest dividend of 90k coming from STANBIC, a banking stock while ZENITHBANK, GUARANTY and ACCESS follow closely with 25k interim dividend each.
The Market from the Investors Perspective
In this edition of #TheNigerianInvestor, we conduct our regular market round-up of innovations, activities, developments, AGM’s, market news, corporate actions, company appointments, announcements as well as updates from market regulators.