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RT Briscoe declares 10k dividend

By on April 14, 2011

RT Briscoe Plc has declared a dividend of 10kobo per share for the year ended December 31, 2010.

The automobile company also proposed a bonus of one share for every five shares originally held by investors.

In its audited accounts released to the Nigerian Stock Exchange on Wednesday, the company recorded a turnover of N15.13bn.

This represents a marginal fall of 0.7 per cent compared to N15.23bn recorded in the same period of 2009.

Its profit after tax also dropped by N136.32m or 47 per cent to N151.96m down from N288.28m the previous year.

Investors in the sub-sector staked N911,665 on 331,209 shares in 18 deals.

Meanwhile, the market indicators sustained the upward trend of the last three trading days led by the increased activities in the banking sub-sector.

Specifically, the market capitalisation of the listed equities rose by N43bn or 0.6 per cent from N7.886tn on Tuesday, to N7.929bn.

Similarly, the NSE’s All-Share Index closed at 24,816.67 points, representing an increase of 0.6 per cent or 134.68 basis points from 24,681.99 the preceding day.

Also, the NSE-30 Index added 1.7 per cent or 18.46 points from 1,064.16 to 1,082.62 points.

Analysts traced the development to the renewed interest in the banking sub-sector as increased activity was recorded in the sub-sector.

In the sub-sector, investors staked N1.97bn on 217.78 million banking shares, in 3,319 transactions, thus representing 71 per cent of total turnover.

Trading in the shares of Zenith Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa Plc and Diamond Bank Plc drove volume in the sub-sector.

Out of 26 stocks on the price gainers’ chart, 11 were from the banking sub-sector.

Specifically, First Bank of Nigeria Plc and Spring Bank Plc gained 4.5 per cent and 4.3 per cent to close at N14.58 and N1.20 per share respectively.

GTB, Zenith Bank and Fidelity Bank Plc all gained over three per cent, while Diamond Bank and UBA rose by 1.3 per cent and 1.1 per cent to close at N5.40 and N8.09 per share respectively.

Bank PHB Plc, Wema Bank Plc, Oceanic Bank Plc and Finbank Plc recorded significant losses, shedding 4.2 per cent, 3.8 per cent, 3.4 per cent, and 2.9 per cent in that order.

Continental Reinsurance Plc led the price gainers, rising by five per cent or five kobo to close at N1.05 per share.

On the other hand, Custodian and Allied Assurance Plc recorded the highest loss for the day, shedding five per cent to close at N2.85 per share.

Source : Punch