Zenith Bank Investors Are Taking Positions on Expectations
Zenith Bank Plc is keeping the uptrend on Friday morning as investors are taking positions based on expectations ahead of earnings.
The bank is seeing positive price appreciation during early hours in the Nigerian Exchange (NGX) as investors begin to re-enter positions in anticipation of earnings release.
Stockbrokers are saying the delay in earnings release is due to the Central Bank of Nigeria (CBN) approval process, without which Zenith Bank is not permitted to make available its financial scorecard in the market.
During early trading hours, the bank share price has climbed to N68; it had traded at a 7-day low of N64 as the bank reassured its shareholders of strong earnings performance with a plan to pay an interim dividend.
To match shareholders’ earnings profiles, Zenith Bank has been paying interim and final dividends for decades. The bank said it will exit the CBN forbearance in June, and market analysts hope the authority’s dividend payment suspension for banks with exposure will not apply.
Data from the Nigerian Exchange showed Zenith Bank share price is up by 1.5% to N68 after huge trading volume posted in the local bourse on Thursday. #Zenith Bank Investors Are Taking Positions on Expectations Expert advises start-ups to tap into energy, food deficits
