GOIL goes High!!
The stock market met mixed reactions from investors during the holiday-shortened week. However, the market continued to topple as the GSE Composite Index recorded the worst performance for the year with a year-to-date loss of 7.29%.
With blue chip companies showing strong financial results and declaration of dividend payments coupled with stabilization of the Cedi against the major trading currencies, analysts and investors still anticipate a rebound in the medium term.
The Financial Stock Index also rallied 18.77 points down from the previous week’s 2,050.08 points leading to a year-to-date loss of 5.68%.
At the close of week, shares of 15 companies were the toast of investors; this resulted in three gainers and three losers. FML gained 2.56% to close at GH¢8.00; thus leading the pack of gainers. TOTAL joined the gainers this week as it continued to see increased investor confidence as investors await the payment of GH¢0.0768 per share as dividend.
The week saw a lot of concentration in the telecommunications sector. The shares of MTNGH traded a total of 9,164,000 shares which constituted 94% of total volume for the week. This caused liquidity to surge significantly by 710% from one million shares that traded the previous week.
GOIL goes High!!
The oil retailing company posted some impressive performance for the year ending December 2018. Profit for the year 2018 saw a rise of 37.6% compared to the previous year. This rise in profits came from increased sales resulting from sales promotions that took place in the latter part of the year 2018. Further to the company’s profitability; profit margin was 1.75% compared to 1.59% a year ago. GOIL’s Earnings per Share was GH¢0.138, a significant rise from GH¢0.10 a year ago. Investors will make some gain on their investment as the company declared the dividend payment of GH¢0.042 per share, 50% increase from GH¢0.028 per share the previous period. In comparison to some other listed companies on the Ghanaian bourse, GOIL has been consistent for 5 years in the payment of dividend. The year-to-date loss on the stock is 23.08% coming from a year-high of GH¢3.12; considering the bearish market currently and the payment of dividend a HOLD is recommended for the short term.
GOIL’s 50th Annual General Meeting will be held at the Auditorium, College of Physicians and Surgeons, Ridge, Accra on Thursday, May 23, 2019 at 11:00 am.
UNIL announced a final dividend of GH¢0.80 per share for the 2018 financial year. Qualifying date is May 17, 2019 with the Ex-dividend date on May 15, 2019.