March 29 (Lagos) - Transnational Corporation of Nigeria (
TRANSCORP ) has proposed a dividend of 2 kobo per unit which will be up for shareholders approval on 30th April at the AGM in Lagos.
Dividend will be paid on May 2 to
TRANSCORP shareholders as on April 17 2018.
The stock gave up gains from earlier in the day today and was trading at N 1.85 per unit at the time of writing this article.
That is understandable because 2 kobo dividend is not what long term shareholders were looking for when they bought the stock. The dividend yield is not even worth calculating.
However looking at a bigger picture, the Company is back to making a profit which is good news for shareholders but they will not really be happy with that result.
The
TRANSCORP stock on the other hand has performed exceptionally well over the last one year and investors will be looking to lock in those gains rather than wait for the dividend.
reporting for easykobo.com on Thursday, March 29 2018 from Lagos, Nigeria