Bullish stock market rakes in K15.95 million
The country’s only bourse, the Malawi Stock Exchange (MSE) was bullish last week with National Bank and Press Corporation Limited (PCL) registering share price gains.
According to the MSE, National Bank share price rose by K0.90 from K227 to K227.90 while PCL share price gained K0.45 from K310.15 to K310.60.
Due to the price gains, the Malawi All Share Index (Masi) increased by 11.28 points to settle at 13 195.96 points from 13 184.68 points at the end of the previous week.
Specifically the Domestic Share Index (DSI) settled at 10 379.54 points from 10 370.56 points in the previous week whilst the Foreign Share Index (FSI) was stable at 1 709.34 points.
According to information provided by the local bourse, a total volume of 724 983 shares were transacted during the week at a total value of K15.95 million in 19 deals.
Recently, PCL announced profit after tax of K17.4 billion compared to K9.5 billion the previous year representing 83 percent growth.
According to PCL net profit attributable to ordinary shareholders was K9.372 billion representing a 48 percent.
PCL paid K240 million dividend in on October 26 2013 and the directors have proposed a final dividend for the year 2013 of K841.40 million bring the total dividend for 2013 to about K1.1 billion representing K9 per share.
National Bank’s pre-tax profit grew by 68 percent to reach the excess of K18.4 billion in 2013 compared to K11 billion in the previous year.
NBM has recommended for a payment of a final dividend amounting to K2.9 billion, representing K6.20 per share payable after the Annual General Meeting, which will be held in June 2014.
