Transcorp Hotels Hits Record High Ahead of Dividend Payment
Investors have started raising bet on Transcorp Hotels Plc shares in the stock market in anticipation of the hospitality’s first quarter earnings release and plan to pay dividend to shareholders on April 10.
The company’s market valuation reached its all-time high on Friday after more than 8.8 million shares valued at N1.205 billion exchanged hands in the local bourse.
Data from the Nigerian bourse showed that Transcorp Hotels Plc.’s share price jerked up by 8% week on week to settle at N136 from N126.10 at the beginning of the same week.
Investors placed N1.328 trillion as market value of Transcorp Hotels’ 10.242 billion shares outstanding in the stock market at the close of trading sessions last week.
Transcorp Hotels is racing towards analysts’ projection of N150 per share, with investors locking funds into the stock before the next market catalysts drop in.
The board of directors told the Nigerian Exchange in a regulatory filing that if the proposed dividend get approval at the annual meeting schedule for April 3, the company will make payment on April 10.
However, Transcorp Hotels Plc said the hospitality company will only pay shareholders who are on register of members as of March 25, 2025. The dividend acted as catalysts that drove the stock performance lately. #Transcorp Hotels Hits Record High Ahead of Dividend Payment#
