- As closed period ends today
- Market cap. drops N27b
Ecobank Group yesterday presented its audited results for the year ended 31 December 2021 to the Nigerian Exchange with a profit after tax of N146.328 billion an increase of 334 percent from N33.742 billion in 2020. This is an equivalent of $357.366 million an increase of 305 percent from $88.319 million in 2020.
The Gross earnings moved up by 14 percent from N841.143 billion in 2020 to N956.393 billion in the just concluded year, 2021. This also represents a growth of 6 percent from $2.202 billion in 2020 to close at $2.336 billion.
It would be recalled that the company on February 28th 2022 notified the Nigerian Exchange about the closed period which commenced from January 1, 2022, to continue until 24 hours after the Audited Accounts for the year ended December 31, 2021, a released to the Stock Exchanges on which Ecobank Transnational Incorporated is listed.
This means directors and staff of the company can now deal in the shares of the company from today Wednesday March 30, exactly 24 hours after submitting their audited results of the year ended December 31, 2021.
The bank informed the shareholders and the general public that the Board of Ecobank Transnational Incorporated (“ETI”), at its meeting of February 25, 2022, approved the Ecobank consolidated audited accounts for the year ended December 31, 2021 (“Audited Accounts”) subject to relevant regulatory approvals.
The Board also recommended the payment of a dividend of USD0.16 cents per share being a total amount of circa USD40 million. The relevant resolutions will be presented for shareholders’ approval at the upcoming Annual General Meeting of ETI.
The price of the stock still stands at N11.80, the closing price as at close of business on Tuesday but hopefully will move by the close of business on Wednesday as the book will be opened for business again.
At the close of business on Tuesday, the market twin indicators both dropped by 0.11 percent respectively. The market capitalization dropped N27 billion to close at N25.246 trillion while the All-Share Index reduced by 50.77 points to close at 46, 843.09 basis points.
In all, investors transacted 214.328 million shares worth N1.790 billion across 4,125 deals. This is in contrast to 35.890 million shares worth N2.611 billion across 5,163 deals recorded on at the beginning of the week.
The Bond and EFT capitalization both went the same way with the twin market indicators. Bond capitalization dropped to N21.420 trillion from N21.423 trillion while the EFT capitalisation dropped to N6.842 billion from N6.861 billion on Monday.
On the price movement table, 16 stocks appreciated while 18 others reduced in price worth. PZ led the gainers table, with an increase of 9.80 percent to close at N11.20 followed by Japaul Oil, FCMB, CHI Plc and NPF Microfinance Bank with price increase of 9.68 percent, 9.32 percent, 4.92 percent and 3.81 percent respectively.
On the losers table, International Breweries led with a drop of 10 per cent to close at N4.50 followed by Veritas Cap with price drop of 8.70 percent to close at N0.21. Others were FTN Cocoa, Fidelity and Chams.
