NAHCO AviancePlc said that it has invested $70 million in Nigeria’s economy in five years from 2006. This is just as the company said it has spent N17.5 billion in concession fees to the Federal Airports Authority of Nigeria (FAAN), taxes, shareholders’ dividends and staff salaries. Vice Chairman of NAHCO Aviance, Alhaji Suleiman Yahyah, who disclosed this said that between 2006 and 2011 concession fees to FAAN from the company is in excess of N1.9 billion while Federal Government taxes was N2.2 billion.
Nacho Aviance share price recorded a whopping -57.85% loss in 2008 while it also went down in 2009 by -38.05%. The stock resumed uptrend in 2010 with +42.06% gains while the gain was erased completely in 2011 with -49.61% loss recorded. In 2012 so far, the stock has recorded +16.54 YTD gains.
Vitafoam Nigeria Plchas in the last five years contributed a total of N1.5billion as tax payment to the government. The Finance Director, Mr. Brabindoh Ogun who gave the figure at a press conference heralding the commemoration of the Golden Jubilee of the company said, “Vitafoam for the past five years has contributed paying tax of more than N1.5 billion. On the average, we pay about N300 million every year that translate in about 1.5billion that we pay into the coffers of the government.”
Vitafoam share price recorded +19.73% gains in 2008 while it went down by -80.85% in 2009. It further went down by -20.93% gains in 2010. The stock sheds -26.47% in 2011 while it further went down by -41.05% in 2012.
First Bank of Nigeria Plc on Thursday said it had won regulatory approval to transfer its subsidiaries into a newly-formed holding company, in line with regulatory requirements to separate core lending from other businesses. Reuters quoted Ugbabe as saying in a conference call with analysts, “We expect to conclude the implementation by the third quarter.”
The bank’s stock closed negative throughout the periods of review as it records -52.77%, -33.44%, -2.28% and -35.18% in 2008, 2009, 2010 and 2011 while it has recorded positive YTD performance of +34.83% in 2012 so far. The company recorded positive growths in gross earnings and PAT in its Q1 2012 financials.
Cement Company of Northern Nigeria (CCNN) Plc on Thursday approved a sum of N365.5m earmarked by the Board of Directors for payment to them as dividend for the 2011 financial year. The amount represents a dividend payout figure of 45 kobo per share. Speaking at its 33rd Annual General Meeting in Abuja, the Chairman of the company Alhaji Abdulsamad Rabiu, put its profit after tax at N2.3bn.
The stock share price recorded a whopping -76.83% loss in 2008 while it went up in 2009 by +133.77%. The stock maintained uptrend in 2010 with +24.32% gains while parts of the gain were erased in 2011 with -71.92% loss recorded. In 2012 so far, the stock has recorded +2.53 YTD gains.
Goldlink Insurance Plc says it would continue to make claims payment a priority in its relationship with numerous clients and insurance brokers. The company in fulfillment of this promise paid a whopping N929 million claims to its clients that suffered different kinds of losses during the first half of the current year.
The insurance firm’s share price recorded -50.26% loss in 2008 while it went up marginally in 2009 by +1.06%. The stock resumed downtrend in 2010 with -47.37% losses while parts of the loss were erased in 2011 with +34% gains recorded. In 2012 so far, the stock has recorded -16.42% YTD gains.
Stanbic IBTC Bank Plc, has revealed that, it is set to reduce its share capital by N7.5 billion as a result of cancellation of 15 billion out of the current 18.75 billion ordinary shares. Sola David-Borha, Chief Executive Officer of the bank, made the disclosure, while speaking in Lagos saying the proposed share cancellation means that excess capital will be returned to shareholders.
The financial institution share price closed 2008 and 2009 negative with -45.20% and -31.47% losses, part of the losses were completely erased in 2010 with +23.16% price appreciations recorded while the stock witnessed and closed the year 2011 with -9.78% price depreciation. In 2012, the stock has witnessed -18.55% price depreciations.
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