The 5 weeked January seems to have taken toll on investors as they started locking on their profits from the close of last week. A Prices number of counters that had gained significantly from have shed gradually over this week. Many of those locking in their profits must be smiling all the way to the bank as they reconcile their gains over as short a period as 3 weeks.
Focus is also shifting from the financial counters most of whose end year results are expected to start trickling into the market in the month of February, to the commercial and services sector. Kenya Airways whose price had dipped to a low of Kshs. 111 at the close of last week has seen its price edge back up to a high of kshs. 19 yesterday. The company closes its financial year in March, and results are usually received in the market around May. TPS East Africa has also pumped up some good demand pushing the price to Kshs. 100 levels. The company recently concluded a takeover deal for two large hotels in Rwanda, Kigali Intercontinental Hotel and Kivu sun hotel.
CMC Holdings shot up to highs of Kshs. 220 levels after the release the company end-year results that reflected a significant revenue growth, and the declaration of a 10:1 shares split along with a Kshs. 2.30 dividend. Scan group also seems to be gaining momentum following the recently released news of its acquisition of a 50% stake in Redsky Ltd., a local advertising agency whose portfolio includes Safaricom, Beiersdorf, D.T. Dobie, Stanbic Bank and Sara lee.
Corporate Actions
Both Sasini Tea and CMC are currently trading on two corporate actions with Sasini trading cum 1:5 bonus and cum 5:1 shares split. While CMC is trading cum Kshs. 2.30 dividend per share and cum 10:1 shares split. Standard Group is trading cum 1:8 bonus while Rea Vipingo, Nation Media and Eveready are all trading cum Kshs. Kshs. 0.80, Kshs. 5.00 and Kshs. 0.60 dividend respectively.
Focus is also shifting from the financial counters most of whose end year results are expected to start trickling into the market in the month of February, to the commercial and services sector. Kenya Airways whose price had dipped to a low of Kshs. 111 at the close of last week has seen its price edge back up to a high of kshs. 19 yesterday. The company closes its financial year in March, and results are usually received in the market around May. TPS East Africa has also pumped up some good demand pushing the price to Kshs. 100 levels. The company recently concluded a takeover deal for two large hotels in Rwanda, Kigali Intercontinental Hotel and Kivu sun hotel.
CMC Holdings shot up to highs of Kshs. 220 levels after the release the company end-year results that reflected a significant revenue growth, and the declaration of a 10:1 shares split along with a Kshs. 2.30 dividend. Scan group also seems to be gaining momentum following the recently released news of its acquisition of a 50% stake in Redsky Ltd., a local advertising agency whose portfolio includes Safaricom, Beiersdorf, D.T. Dobie, Stanbic Bank and Sara lee.
Corporate Actions
Both Sasini Tea and CMC are currently trading on two corporate actions with Sasini trading cum 1:5 bonus and cum 5:1 shares split. While CMC is trading cum Kshs. 2.30 dividend per share and cum 10:1 shares split. Standard Group is trading cum 1:8 bonus while Rea Vipingo, Nation Media and Eveready are all trading cum Kshs. Kshs. 0.80, Kshs. 5.00 and Kshs. 0.60 dividend respectively.
2 comments:
Hisagal, nice blog. Have you seen Nation's results for 2006? Also, don't know whether u saw the Rea Vipingo financial highlights for '06, sales went but cost of sales went up much faster meaning annual profits were lower. But weirdly, they still maintained their dividend.
Nation Media has not yet released their results for year 2006. Their financial year ends in December, and the results are expected in the market in March.
Regarding Rea vipingo, yes, their profits were lower but they maintained the 0.80 dividends per share implying that profit retention for the year in review was lower. Consequently, the dividend cover declined, to 2.35 down from the previous years 2.58.
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