Activity at the NSE will pick up this week as investors position to earn dividends from Safaricom, considered the biggest mover at the bourse.
Shareholders of Safaricom, which holds its virtual Annual General Meeting on 31st July 2020, will approve a final dividend of KSh 1.40 per share for the financial year ended 31st March 2020 as recommended by the Directors.
This dividend will be payable on 31st August 2020 to the shareholders who will be on the register by 31st July 2020.
Available data shows that weekly turnover at the Nairobi Securities Exchange(NSE) declined to KSh 3.3 Billion when the market closed on Friday last week.
This volume compares to 138 million shares, valued at KSh3.4 Billion, transacted the previous week. Safaricom was the most traded counter by volume and turnover with shares worth KSh 1.88 Billion exchanging hands during the week.
The share’s price rose 4.07% to end the week at KSh 28.10 against the KSh 27.00 the previous week. Foreign investors were net sellers on several counters, pushing down the year-to-date level for the NSE All-Share Index by 19.12%.
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