Fat Dividend Cheque Lifts Up Carbacid to Top Gainer at NSE

Carbacid was the top price gainer at the Nairobi Securities Exchange (NSE) on Monday with 5.40% appreciation to close the day at Ksh8.98 per share compared to the previous price of Ksh8.52. This was on a volume of 29,300 shares as investors rush in before book closure on December 9, 2020.

Those on the shareholders’ register will receive a dividend payout at the rate of Ksh0.70 per share

Carbacid began the year with a share price of Ksh8.00 and has since gained 12.25% on that price valuation, ranking it 4th on the NSE in terms of year-to-date performance.

Directors of the listed CO2 gas manufacturer have recommended the payment of dividends to the firm’s shareholders amounting to KSh 178,395,390.

This final dividend will be payable to shareholders on the shareholder’s register at the close of business on January 9, 2021, with the payment being made on or about January 29, 2021.

According to its latest financial statements, Carbacid Investment’s revenue increased to Ksh682.9 million at the end of the financial year ended July 31, 2020, from Ksh630.5 million at the end of the 2019 financial year.

 Consolidated Net earnings increased to Ksh324.7 million in 2020 from Ksh264.6 Million in 2019.

” Given our strong performance in the financial year and expectation of resilience in the year ahead, the board proposes to maintain a final dividend of KSh 0.70 per share, said Dennis Awori, Chairman of the Board-Carbacid Investments Plc

In a notice to its shareholders, Carbacid Investments said this year’s Annual General Meeting(AGM) will be convened via a notice, to be issued in due course.

The firm’s financial results for the year ended July 31, 2020, shows that its pre-tax profit increased by 13% to Ksh427 million compared to Ksh377 million in 2019.

Its profitability, as measured by Earnings Per Share(EPS)  increased to Ksh1.27 from Ksh 1.04 in the prior year.
Net cash generated from operating activities stood at Ksh389 million compared to Ksh411 Million in 2019.

Also with investments in property, shares in other listed companies, as well as in bonds and financial assets, Carbacid recorded an unrealised loss of Ksh39 Million in its holdings in listed stocks.

Carbacid (CO2) Limited is the only supplier of natural Carbon Dioxide in Africa.

It has two mines, each with full processing and quality control facilities, a fleet of long haul trucks with cryogenic tankers, and many CO2 storage tanks located at customer premises.

Its owned fleet of pressurized rigid and semi-trailer tankers distribute CO2 all over the East Africa and Central Africa region.

The firm’s top shareholder is Amarjeet Baloobhai Patel & Baloobhai Chhotabhai Patel, who own 102,913,592 shares or 40.38% of  Carbacid Investments Plc.

This Monday, turnover at the NSE fell to Ksh480.8 million, a slide of 47%  compared to a turnover of Ksh908.9 million in the prior trading period.

The volume of shares traded was also down to 9.4 million on November 23, 2020, compared to  29.3 million in the prior period.

The top 5 big movers at the NSE were KCB( 4.4 Million), Safaricom( 2.2 Million), EABL( 827,100) and Equity Group(669,500).

The benchmark NSE All-Share Index edged up 0.03 points to 143.75 while the NSE 20 Share Index was gained 1.01 points to settle at 1786.89. The NSE 25 Share Index was up 2.51 points to settle at 3258.19

The worst performers were led by East African Portland Cement, Flame Tree Group Holdings, Olympia Capital Holdings and Sanlam Kenya which was down 5.17%.

Safaricom was the sole contract featuring on the derivatives market with bonds worth Ksh2.2 Billion being transacted down from Ksh2. 44 billion worth of bonds in the prior period.

See Also>>>> Foreign Investors Lift NSE Turnover to Sh908 Million

Latest

SasaPay To “Pay SMEs To Get Paid” Via New Cash-Back Model

SasaPay has introduced a new cash-back model designed to...

Gor Mahia Fan Who Correctly Predicted 15 Out of 17 Games Wins Millions

The 30-year-old, also an avid follower of English Premier League giants Manchester United, came close to the grand prize of Ksh334,783,843 SportPesa Jackpot.

In Race for African Leadership Award, Ruto Faces Tough Opposition

Among the contenders of the prestigious African of the Year award is Kenya’s President William Ruto, who will be battling it out with President Hakainde Hichilema of Zambia and Prof. Benedict Okey Oramah, President of Afrexim Bank.

Transforming Financial Inclusion: The Impact of M-Pesa in Kenya and Beyond 

Discover the profound impact of M-Pesa on financial inclusion in Kenya and beyond. Explore how this innovative mobile service revolutionizes transactions and shapes the future of finance globally.

Follow Us

Newsletter

Don't miss

Safaricom To Power Tusker OktobaFest Beer Festival

Safaricom’s involvement in OktobaFest as a technology and payments partner will focus on fostering seamless in-festival connectivity, empowering the youth and Gen Z community through Safaricom Hook, and powering digital payments through M-PESA.

Music Producers Launch Organization To Streamline Recording Industry

Recording Industry of Kenya (RIKE) was launched on 9th October 2023. Registered in 2022 as a not-for-profit organization, RIKE aims to promote the collective interests of producers of sound recordings in the country.

Nairobi’s Hero Bar Listed Among World’s 50 Best Bars

World Best Bars: Hero Bar in Nairobi continues to climb the list, moving up six places to No.62 and Johannesburg’s Sin + Tax comes in at No.94. Dubai new entry Ergo is at No.69 and Melbourne’s Byrdi has re-entered the list at No.61.

Kenyan DJs Face Off In Smirnoff Battle Of The Beats Season 3

The Smirnoff Battle of the Beats Season 3, a DJ competition, is poised to unleash an unprecedented musical frenzy countrywide.

The Highs And Lows Of Betty Kyallo, Sisters Show As Season 2 Ends

Kyallo Kulture has always been, above all, about sisterhood, and in Season 2 we have witnessed the charm of it - the ups that gave us wholesome moments as the sisters led by Betty Kyallo spent time together.

DStv Beats CNN, BBC To Become Most Admired Media Outlet In Africa

DStv, MultiChoice Group’s leading broadcast service, has been named...

MultiChoice Revises Subscription Fees For DStv, GOtv

MultiChoice has announced price adjustments on some of their...

Octopizzo: How I Make My Money

"I've been doing this for 12, 13 years. It reaches a point where you no longer need to prove that you can make a hit record," he stated.

New Spotify EQUAL Artist Qing Madi Talks Music and Dreams

Heavily influenced by her cultural background and the lyrical arrangements of Kendrick Lamar, the versatile Nigerian prodigy is shaping the future of music with her unique genre-bending fusion of Afrobeats, Pop, Soul and R&B.

Bob Collymore Immortalized in New Festival

The late Collymore was famous for his love for jazz and even initiated the Safaricom Jazz Festival, which saw several of the world's biggest Jazz artists perform in Nairobi.
BT Reporter
BT Reporterhttp://www.businesstoday.co.ke
editor [at] businesstoday.co.ke

SasaPay To “Pay SMEs To Get Paid” Via New Cash-Back Model

SasaPay has introduced a new cash-back model designed to empower business owners to reduce costs and bolster profitability by receiving compensation for collecting payments...

Gor Mahia Fan Who Correctly Predicted 15 Out of 17 Games Wins Millions

The 30-year-old, also an avid follower of English Premier League giants Manchester United, came close to the grand prize of Ksh334,783,843 SportPesa Jackpot.

In Race for African Leadership Award, Ruto Faces Tough Opposition

Among the contenders of the prestigious African of the Year award is Kenya’s President William Ruto, who will be battling it out with President Hakainde Hichilema of Zambia and Prof. Benedict Okey Oramah, President of Afrexim Bank.

LEAVE A REPLY

Please enter your comment!
Please enter your name here