The combined market capitalization of the SWOOT (Stocks worth over one trillion naira) appreciated by 2.33% to close at N13.47 trillion from N13.16 trillion the previous week. Stocks included in this classification of SWOOT include AIRTEL AFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.
BUA Cement Plc
BUA Cement Plc’s share price remained unchanged week-on-week to close at N71.00. The company, which is a major competitor with Dangote Cement Plc and Wapco Plc has a total market capitalization of N2.40 trillion.
Recently, the company’s shareholders approved N70 billion to be paid as dividends reflecting N2.067 per share. BUA Cement half-year report is yet to be released.
Nestle Nig Plc
The fast-moving consumer goods company currently has a market capitalization of N1.22 trillion. Nestle Nigeria Plc is the only company under the NGX Consumer Goods Index to be worth over a trillion.
Earlier in the month, the Board of Nestle Nigeria Plc approved a final dividend payment of N28.14 billion representing N35.50 per share to be paid to existing shareholders for the 2020 financial year.
Dangote Cement Plc
Dangote Cement Plc started the trading week with a market capitalization of N3.92 trillion at N230 per share, to close at N4.23 trillion gaining a total of N306.73 billion at the end of the week.
The increase in the price of Dangote Cement share price can be attributed to the announcement of the commissioning of the new Dangote Cement $1 billion, six million Metric Tonnes Per Annum (MTPA) facility located at Okpella, Edo State. The new factory is part of efforts by Dangote Cement to boost cement production in the state and across the country.
MTNN Plc
MTNN Plc’ share price remained at N165.00 at the end of the week, after moving up 0.61% the previous week. The telecommunication company has a total market capitalization of N3.36 trillion, N1.10 trillion higher than Airtel Nigeria’s current market value.
The company is the second-highest in market value on the Nigerian Exchange Limited (NGX), right after Dangote Cement Plc.
MTN Nigeria recently hit a major milestone as the first mobile network operator in Africa to be accorded some significant upgrade from the Global Credit Ratings (GCR). The telecoms company also announced a decision to sell 14% of its shares, and let in close to 2 million retail investors.
Airtel Nigeria Plc
Airtel Nigeria Plc’s share price remained unchanged during the week to close at N601.00. The telecommunication company had a total market capitalization of N2.26 trillion at the end of the trading week. During the week, the Nigerian Communications Commission (NCC) said that it is yet to renew the mobile operating license of Airtel Nigeria.
