On the Ghana Stock Exchange
A total of 8 listed companies have declared dividends so far for the 2017 financial year with UNIL leading the list paying the largest dividend per share of GHS 0.25. UNIL’s dividend of GHS 0.25 represents approximately a 400% increase from the dividend of GHS 0.05 declared for the 2016 financial year.
Historically, UNIL has shown resilience, recovering strongly from losses reported in 2014. Revenues and profit after tax have grown at a compound annual growth rate of 12% and 28% respectively over the past five years.
It is anticipated that UNIL will maintain its growth path this year as the Ghanaian economy improves with gross domestic product estimated to have grown at 6.8% in Q1-2018. AGA, BOPP, CMLT, GOIL, TBL, GCB and TOTAL have also declared dividends of GHS 0.2092, GHS 0.0628, GHS 0.0098, GHS 0.0280, D 0.15, GHS 0.10 and GHS 0.0701 for the 2017 financial year respectively.
Trading activity on the local bourse ended on a positive note with the Composite Index and the Financial stocks index gaining 3.37 points and 3.35 points to peg at a YTD return of 11.59% and 11.66% respectively. There were 4 gainers [CAL, TOTAL, GCB & SOGEGH] and 2 losers [EGH & ETI] at the end of yesterday’s trade. CAL topped the charts in terms of volumes as 686,000 shares worth GHS 857,425 changed hands.
On the Ghana Alternative Market
Trading on the Ghana alternative Market was hushed as no shares changed hands.
On the Currency market
The Cedi appreciated marginally the British Pound and the Euro but lost to Dollar at the end of yesterday’s trade. The local currency exchanged at a mid-rate of GHS 4.5096 to the USD, GHS 5.9232 to the GBP and GHS 5.2202 to the EURO. The GCFM Cedi index, a measure of the holistic performance of the Cedi on the interbank market now records a year-to-date depreciation of 0.54%.
Source: GN Research