United Capital Rises by 22% as Board Discusses Bonus, Interim Dividend
United Capital Plc recorded about 22% price appreciation on the Nigerian Exchange (NGX) last week ahead of its board meeting to discuss bonus issue and interim dividend for shareholders.
The company’s latest price surge pushed its market valuation to N159 billion, spread over 6 billion shares outstanding, according to information obtained from the local bourse.
Specifically, the investment company share price rose from N21.75 to close the week at N26.5 due to strong buying momentum as reflected in volume of shares that exchange hands in the local bourse.
On Friday, about 25 million shares of United Capital Plc exchanged hands in the local bourse. Earlier, investors transacted more than 25 million shares of the investment company shares in the local bourse. The lowest volume traded was N4.034 million shares at the beginning of the week.
Following its latest price movement, United Capital Plc is trading as 4.2% below its 52 week high. United Capital Plc market price had reached N27.65 on the Nigerian Exchange, and the lowest it had reached was N13.05.
In a regulatory filing, the Board of United Capital Plc revealed plan to meet in Lagos on Tuesday, July 16, 2024, to consider, among other things, the Company’s Unaudited Financial Statements for the quarter ending June 30, 2024
The company also put a proposal for an interim dividend and bonus issuance on the table for discussion.
In accordance with the post-listing requirements, United Capital Plc has also declared closed period for insider trading on the company share effectively from July 1, 2024, in respect of the Q2-2024 financials.
“no Insider of the Company and their connected persons may directly or indirectly deal in the securities of the Company until 24 hours after the release of the Q2-2024 Financials to NGX and by extension, the general public”, United Capital said in its regulatory filing. #United Capital Rises by 22% as Board Discusses Bonus, Interim Dividend
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