Investors in Dangote Cement Plc have been assured of good returns at the end of the current financial year.
The company made this announcement in a statement on Friday, on the back of the performance of its shares on the floor of the Nigerian Stockk Exchange.
According to the statement, the NSE’s All-Share Index hit a high of 33,895.07 points following the gains recorded by shares of Dangote Cement on Friday.
The NSE weekly report showed that the company’s shares rose by N13.01 to N160 per share from N146.99 at which it opened.
The statement added that the management of Dangote Cement had also recently assured its shareholders of good returns on their investments this year, despite the downturn experienced by traders on the NSE.
It added that analysts at FutureView Financial Services Limited, projected that Dangote Cement’s share would hit a high of N237.
They recommended the shares to investors for purchase, saying it had significant upside potential considering its current market value.
Meanwhile, 2.482 billion shares worth N22.81bn were exchanged by investors last week in 32,471 deals on the floor of the NSE, compared to 4.249 billion shares valued at N23.18bn exchanged the preceding week in 39,391 deals.
The Financial Services sector was the most active during the week, contributing 69.14 per cent, 59.98 per cent and 58.39 per cent to the total equity turnover volume, value and number of trades respectively.
Trading in the shares of Unity Bank Plc, Transnational Corporation of Nigeria Plc and Guaranty Trust Bank Plc accounted for total volume.
The NSE report showed that 193 units of NewGold Exchange Traded Funds valued at N471,970 exchanged hands in four deals, compared to a total of 339 units valued at N854,813 transacted the previous week inn six deals.
The report also explained that 16,050 units of FGN bonds valued at N19.339m were traded during the week in 66 deals, in contrast to 6,460 units valued at N7.970m exchanged the previous week in 21 deals.
