Shareholders Hail Performance of Access Bank on Approve Dividend

Impressed with the strong financial performance in 2015 despite the difficult operating environment, shareholders of Access Bank Plc have commended the board and management of the bank.

The shareholders, who gave the commendation at the bank’s annual general meeting (AGM) in Lagos on Wednesday, also  approved  a final dividend of 30 kobo per share in  addition to the interim dividend of 25 kobo,  which was paid in September 2015.

Nigeria to Commence 24 Hours Trading Settlement Cycle

For the first time in the history of any capital market in Africa, Nigeria is set to commence 24 hours trading settlement circle, even as investors in the Nigerian Capital market are now to get dividend payment within 24 hours through the e-Dividend Payment Platform. Director General of Securities and Exchange Commission (SEC) Mounir Gwarzo made this disclosure at the e-Dividend Sensitisation Town Hall Meeting in Lagos.

According to him, the proposed system will automatically allow dividends to be credited directly into shareholders’ accounts within 24 hours of payment by the company. Gwarzo stated that this was one of the initiatives being implemented by the commission as part of its 10 year Capital Market Master Plan to encourage retail investors to return to the market and thereby deepen the market. According to him

Royal Dutch Shell profits drop, a week before shareholders vote DEAL

For the fourth quarter it expects profits of $1.6bn to $1.9bn, less than half the $4.2bn it made a year ago.

It expects full year profits of $10.4bn to $10.7bn, below its $10.8bn guidance.

The oil firm has issued the preliminary results to enable investors to have up-to-date information on its performance ahead of the vote on 27 January.

Its shares fell 3.7% in early trading.

But chief executive Ben van Beurden said he was "pleased" with the results.

"The completion of the BG transaction, which we are expecting in a matter of weeks, will mark the start of a new chapter in Shell, to rejuvenate the company, and improve shareholder returns," he added.

Royal Dutch Shell's results are calculated on the basis of replacement cost, which reflects the current cost of supplies and is widely seen as the best measure of an oil firm's underlying performance.

Deal questioned

Nigeria PZ Cussons announced full year Pretax Profit Palls

PZ Cussons Nigeria said on Monday its full year pretax profit fell 5.6 percent to N6.55 billion ($33 million) versus the previous year.
 
Revenue rose to N73.12 billion from N72.90 billion a year earlier in the year ended May 31, the local unit of British soap and shampoo maker PZ Cussons said in a statement.