Airtel Africa Slips as NGX Marks Down Price for Dividend
Telecom Company, Airtel Africa Plc, market price declined to N2097 per share on the Nigerian Exchange (NGX) last week following its price adjustment.
The telecom company share was marked down for N53 dividend payment on the Nigerian bourse, closing at N2,097 from N2,150.
According to its latest price action, Airtel Africa paid N53.05 per share to its shareholder for 2023 financial year. The company share price had been relatively steadied due to low trading activities following its shares buyback.
The stock low volatility reflects in its market price of N2,150 before recent market down versus its 52 week high. Airtel Africa market price peaked at N2,200 in the last 12 months and hit the bottom of N1,250 over the same period.
After the mark down, the telecom stock is trading at 5% discount to its 52 week high, and significantly above its 52 week low.
Airtel Africa is in the midst of repurchasing its own shares on the London Stock Exchange from Citigroup Global Markets Limited pursuant to the authority granted by its shareholders as part of its share buy-back programme.
Since the commencement of the share buy-back programme announced on 1 March 2024, the Company has purchased 21,481,816 ordinary shares in aggregate, at a volume weighted average price of GBP 107.37 per ordinary share. #Airtel Africa Slips as NGX Marks Down Price for Dividend
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