Market Value: Linkage Assurance Lost 25% ahead of Bonus, Dividend Payment
Linkage Assurance Plc lost a quarter of its market value on the Nigerian Exchange in the just concluded week as a result of a swarm of selloffs ahead of the dividend payment date. Investors exited positions in the assurance company stocks due to negative sentiment despite the market knowledge about its upcoming dividend in the month.
Its market value declined by 24.5% to about N13.244 billion as trading activities on the assurance company captured investors’ intents, expectations. The price decline was a result of the large volume of Linkage Assurance traded during the week.
Data from the local bourse showed that the price dropped three times last week over the huge volume of shares traded. In a regulatory filing, the company told the Nigerian Exchange that a final dividend of 0.05k per share, subject to appropriate withholding tax and approval, will be paid to shareholders.
Eligible shareholders are those whose names appear in the Register of Members as of the close of business on 12th day of July 2024, according to Linkage Assurance Plc. The company is also paying bonus shares.
Linkage Assurance offered to pay shareholders one share for every ten they hold in the company. Again, the company said bonus shares will be awarded to shareholders whose names appear in the Register of Members as at the close of business on July 12 2024.
“On the 31st of July 2024, dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 12th July 2024 and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts”, it said in a regulatory filing.
#Market Value: Linkage Assurance Lost 25% ahead of Bonus, Dividend Payment FX Stability: CBN Sells 122.671m Dollars to 46 Authorised Dealers
