Oando Dips as Board Sets to Discuss Bonus, Dividend
Oando Plc.’s market value declined by about 6.4% in the equities market due to sell side actors activities as board has been schedule to meet Thursday to distributes shares or pay dividend to shareholders.
The company stock market price fell to N67.4 in the Nigerian Exchange as more than 6 million shares exchanged hands on Monday amidst a rock-solid rally that pushed equities market capitalisation above N64 trillion on Monday. The market now priced Oando’s 12.431 billion shares outstanding for about N838 billion ahead of the board meeting scheduled for January 30.
At the meeting, the board will, among other matters, review the company’s performance for the fourth quarter of the 2024 financial year and consider and approve the unaudited financial statements for the period ended December 31, 2024.
Also, the board will deliberate on the distribution of shares in direct proportion to existing holdings or the cash value thereof on a record date to be duly announced pursuant to the special resolution passed at the 45th Annual General Meeting of Oando Plc held on December 17, 2024.
Oando Plc commenced a closed period for trading in the company’s shares on 1 January 2025. Hence, no insider of the company and their connected persons may directly or indirectly deal in its shares until twenty-four (24) hours after release of the 2024 reports for the year ended 31 December 2024 to NGX. #Oando Dips as Board Sets to Discuss Bonus, Dividend Nigerian Exchange Rises by N795bn as Banking, Consumer Stock Rally
