Four counters push up Masi
Four counters on the Malawi Stock Exchange (MSE)—Illovo Sugar (Malawi) Limited, National Bank of Malawi (NBM), Nico Holdings Limited and Press Corporation Limited (PCL)—gained on their share prices, pushing up the local bourse overall index.
Due to the increase in the share prices, the Malawi All Share Index (Masi), the overall measure of the MSE performance, increased by 101.27 points to settle at 13 233.53 points.
Sugar manufacturer Illovo gained to K293 from K292 while NBM’s share price rose from K228 to close the week at K234.84.
Local conglomerates Nico Holdings and PCL also gained to K19.50 from K19.15 per share and from K315.40 to K319 per share respectively.
The market report shows that 81.2 million shares changed hands during the week, raising K278.87 million in 20 deals.
After paying an interim dividend of 750 tambala per share in January 2014, Illovo Sugar (Malawi) Limited directors will propose a final dividend of 60 tambala per share.
NBM has resolved to recommend a payment of a final dividend of K2.9 billion, representing K6.20 per share payable after the annual general meeting this month.
PCL paid K240 million dividend in October 2013 and the directors have proposed a final dividend for the year 2013 of K841.40 million.
