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Investors stake 400bn in OTC market

By Michael Eboh & Providence Obuh
INVESTORS’ interest in Federal Government Bonds heightened last week, as they staked N399.49  billion in the Over-the-Counter (OTC) Bond market, representing an improvement of 295.1 per cent from N101.11 billion invested in the sector in the previous week.

Also a significant improvement was recorded in the volume of bonds traded in the sector in the week under review, as turnover shot up by 299.8 per cent from 86.7 million units to N346.63 million.

Specifically, a turnover of 346.63 million units valued at N399.49 billion was recorded in 4,516 deals, in contrast to the previous week’s turnover of 86.7 million units valued at N101.11 billion in 1,164 deals.

The Sixth Federal Government of Nigeria (FGN) Bond, Series 1, maturing in the year 2012, recorded the highest patronage in the sector, accounting for 16.44 per cent of the total turnover in the sector, with 57.0 million units valued at N63.02 billion in 569 deals.

Fourth FGN Bond, Series 3, maturing in 2014, was the second most patronised bond in the sector, accounting for 14.68 per cent of the total market turnover, with 50.9 million units valued at N60.48 million in 1,019 deals.
Of the 41 FGN bonds available,  22 enjoyed patroange in the week under review, compared to 17 in the preceding week.

Meanwhile, Nigerian Breweries Plc have announced an interim dividend of N1.50 per share for its shareholders.
According to its financial statement for the third quarter ended, September 2009, the company is recommending a dividend of N1.50 to be paid, February 8, 2010, to shareholders whose names appear on its register of members before the January 27, 2010.

Also, Fidson Healthcare Plc has announced a dividend of N0.22 per share for its shareholders for its 2009 financial year.

According to its audited financial result for the year ended, June 30, 2009, released to the Nigerian Stock Exchange (NSE) last week, its turnover grew by 11.56 per cent from N4.50 billion recorded in 2008 to N5.02 billion, while its profit after tax rose by 126.68 per cent to N429.1 million from N189.3 million recorded in its 2008 financial year.

Costain (West Africa) Plc in its audited result for the year ended March 31, 2009 posted a  loss after tax of N615.12 million compared with a profit after tax of N353.22 million in 2008.

It recorded a turnover of N6.27 billion compared to a turnover of N3.81 billion in 2008. The date of closure of register of members is 9th February 2010.

Beco Petroleum Plc, in its unaudited result for the first quarter ended October 31, 2009, recorded a gross income of N825.94 million, as against N998.85 million in the comparable period of 2008, it posted a profit after tax stood at N75 million compared with N44.2 million in 2008.

In its unaudited result for the third quarter ended, September 30, 2009 United Nigerian Textiles Plc declared a turnover of N6.54 billion, as against N8.84 billion recorded in the comparable period of 2008, while it announced a loss after tax of N956.04 million compared with a loss of N659.63 million in 2008.

African Paints Nigeria Plc recorded a turnover of N34.91 million in its unaudited result for the third quarter ended 30th September 2009 as against N26.4 million in the comparable period of 2008, it posted a loss after tax stood of N32.02 million compared with N36.6 million in 2008.


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