Unilever, UBA, other stocks trade cum-dividend

The stocks of some NSE listed companies yet to deliver their 2016 audited financial statement for the period ended December 31st, are currently assumed to be trading cum-dividend based on their historical records of dividend payment.

Such companies , though have not made public their dividend declaration for the year , or are in the process of doing so, cross section of analysts are of the pinion that will pay dividend, but how much dividend they might pay still remains uncertain.

Trading cum dividend is referred to as stocks trading on dividend declaration before closure of register, while ex-dividend is trading when register for dividend payment has closed. However, none of the above listed companies have declared amount of dividend to pay investors, cross section of experts hinge their increased demand for their stocks on historical performances.

For instance, at the Board Meeting of Unilever Nigeria Plc. which held on Thursday 16 March, 2017, the Board of Directors approved the Audited Financial Statements of Unilever Nigeria Plc. for the year ended 31 December, 2016 and the Dividends to be proposed to the Shareholders at the Annual General Meeting.

Also, Okomu Oil Palm Plc at the recent board meeting of Okomu Oil board of directors, approved the draft audited accounts for the year ended 31 December 20L6 and payment of dividend, to shareholders whose names appear in the register of members at the close of the register.

Also, the United Bank for Africa (UBA) has sustained unbroken 10 years of dividend payment, a development analyst said will not be interrupted in 2017, irrespective of headwinds which characterized the financial sector in 2016 financial year.

Meanwhile, to qualify for a dividend check on the companies, investors must have owned shares of the dividend paying companies prior to closure of register date, after which ex-dividend transactions will commence.