NBM anchors activity on local bourse
National Bank of Malawi (NBM) anchored activity on the 14-counter Malawi Stock Exchange (MSE) last week, trading 35 722 shares, about 15 percent of the market’s traded shares, at K241 per share.
The market did not register any share price gain despite six counters recording trading activity, with 230 588 shares changing hands, according to FDH Stockbrokers weekly market wrap.
As a result of no share price gain, Malawi All Share Index (Masi), the overall measure of market performance, domestic share index and foreign share index closed steady at 14 971.01, 11 787.78 and 1 762.13 points respectively.
But the firm said there is still heightened demand on hotel chain Blantyre Hotels Limited (BHL), NBS Bank, National Investment Trust Limited (Nitl), Press Corporation Limited, Mpico Limited, Sunbird and TNM plc.
In the week, the market recorded a turnover of K10 million (about $23 178) in 19 deals.
The market is yet to respond to Standard Bank’s profit after tax of K12.3 billion, a two percent growth from K12.1 billion same period last year, whose results were released last week.
The bank’s board of directors have since proposed a final dividend of K2.5 billion, representing K10.68 per share to be discussed at the next annual general meeting (AGM). Last year the company did not give any dividend.
The bank’s dividend yield was recorded at 3.01 percent compared to 2.2 percent quoted before the release of the financial results.
