Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  DAR ES SALAAM STOCK EXCHANGE  >  CRDB Bank PLC    CRDB   TZ1996100305

SummaryNewsCalendarCompany 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

CRDB Bank : Sh44bn dividend stimulates equity trading

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/26/2016 | 11:42am CEST

Dar es Salaam. Last week's mouth-watering financial statements for commercial banks sent good news to investors who trekked to buy bank equities at the Dar es Salaam Stock Exchange (DSE), market data show.

The National Microfinance Bank (NMB), CRDB Bank and DCB performed well to jointly contribute Sh1.5 billion or 40 per cent of last week's turnover of Sh3.68 billion.

The realised turnover was a slight drop from Sh3.73 billion that was registered during the week ending April 15, 2016.

NMB transacted 426,609 shares at prices that ranged between Sh2,000 and Sh2,050 while CRDB' 1,667,746 shares exchanged hands during the week at a weighted average price of Sh375.

Last week, NMB's audited financial results showed that it had registered a 2015 full year profit of Sh150 billion. That was a slight decrease from 2014's Sh155 billion profit.

On the other hand, CRDB announced a net profit of Sh129 billion during the 2015 calendar year in its audited financial results, up from Sh95 billion during the preceding year.

The bank – which boasts of the largest asset base in the country – is currently announcing payment of dividends to its shareholder, with its board of directors recommending a Sh17 per share dividend.

"The total amount to be paid as dividend for the year 2025 is Sh44.4 billion which is an increase of 13.3 per cent above the amount paid in the year 2014 which was Sh32.6 billion," reads CRDB's statement that was published in newspapers yesterday.

In an abrupt turn of event, TCC woke up on Tuesday to transact a total of 107,961 shares.

It accounted for Sh1.295 billion. That was after transacting only 10 shares at Sh12,000 on Monday, signalling that in total, the Dar es Salaam-based cigarette maker brought in Sh1.296 billion or about 35 per cent of the week's turnover.

Analysts say the sudden massive sale of TCC shares is a clear indication that the firm's equities are on high demand though supply is low due to the price factor.

"It simply means that there is high demand for TCC's equities amongst investors. Unfortunately, with a price of Sh12,000 per share, suppliers believe it is too low for a splendid company like TCC. I believe that the price will soon stabilize and volumes will also improve when demand and supply reach the equilibrium point," the Zan Securities Limited chief executive officer, Mr Raphael Masumbuko told The Citizen yesterday.

(c) 2016 Mwananchi Communications . All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on CRDB BANK PLC
04/26 CRDB BANK : Sh44bn dividend stimulates equity trading
04/19 CRDB BANK : Microfinance Profit Soars
04/18 CRDB BANK : On fraud charges, false PCCB employee lands in court
04/18 CRDB BANK : Fake PCCB 'Employee' Lands in Court Over Fraud Charges
04/18 CRDB BANK : Posts Impressive Q1 Results in Burundi This Year
04/13 DSE Bearish Trend Continues
04/12 CRDB BANK : Shareholders Touts Busara Account
04/06 CRDB BANK : Dar Bourse Turnover Declines
03/31 CRDB BANK : Boosts Police Force Transformation Drive
03/23 CRDB BANK : gives Sh255m for police call centre
Advertisement