Investors are currently taking positions on UBA stocks in the equities segment of the Nigerian Exchange during the day trading session on Monday. The buying action was spurred by a surprise dividend declared by the UBA board of directors.
The pan African lender announced today in a regulatory filing it would pay NGN2 dividend, 4x above interim dividend payment in the equivalent period in 2023. UBA is paying more than its banking peers.
Now, in the market, the NGX All Share Index witnessed a positive trajectory, reflecting a gain of 0.22%. This upward movement is as a result of buying sentiment of investors in some mid to high capitalized stocks, Alpha Morgan Capital Limited told investors in an email note.
Key gainers during mid day session include UBA 9.90%, ACCESSCORP 3.59%, OANDO 2.39%, GUINNESS 2.36%, UCAP 1.11%, TRANSCORP 0.44%, and others.
