FCMB shares drop most as market rout continues

The record sell-off in Nigeria’s stock market continued into this new week as investors on Monday March 28 moved to take profit in stocks like FCMB Group Plc, Learn Africa Plc, Caverton Offshore Support Plc and Transnational Corporation of Nigeria Plc (Transcorp).

Transcorp had earlier announced that a final dividend of 2 kobo per ordinary share, subject to appropriate withholding tax and shareholders’ approval, will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday, April 8, 2022.

The Register of shareholders will be closed from Monday, April 11, 2022 to Friday, April 15, 2022 (both dates inclusive). On Friday, April 22, 2022, dividends will be paid electronically to shareholders whose names appear on the Register of Member.

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FCMB Group decreased most on the Bourse, from N3.34 to N3.11, losing 23kobo or 6.89percent. Learn Africa also decreased from preceding day’s N2.17 to N 1.96, shedding 21kobo or 9.68percent.

Caverton Offshore Support decreased from a high of N 1.27 to N 1.18, losing 9kobo or 7.09percent while Transcorp decreased by 7kobo, from N1.07 to N1, losing 6.54percent.

The equities market’s benchmark performance indicator – Nigerian Exchange Limited (NGX) –All Share Index (ASI) decreased by 0.14 percent from preceding day’s 46,964.23 points to 46,893.86points on Monday.

Also, the value of stocks listed on the Nigerian Exchange decreased by about N38billion, from preceding day’s N25.311trillion to N25.273trillion. In 5,163 deals, investors exchanged 359,890,155 shares valued at N2.611billion.

The market’s positive return year-to-date (YtD) reached new low of 9.79percent, while month-to-date (MtD) the market has decreased by 1.05percent.