Investors have the opportunity to benefit from both significant Dividends and notable Share Price appreciation as certain Stocks position themselves for a strong performance in 2024.
Zenith Bank: This major Banking Stock not only offers a Dividend yield exceeding 10%, among the highest on the NGX but also demonstrates improving earnings. With a substantial 149% growth in Post-Tax Profit and positive momentum in Share Price recovery, Zenith Bank is expected to sustain this positive trend into 2024.
Mansard: Despite being a Penny Stock, Mansard stands out with a robust Dividend yield and a promising growth trajectory. Even in the face of a 35% YoY decline in Profit After Tax in 2022, Mansard consistently paid Dividends for four consecutive years and experienced a substantial 738% growth in PAT in 9M 2023, setting a strong foundation for increased Dividends in 2024.
Okomu Oil: With a 46% YTD increase in Share Price and a commendable 8.54% Dividend yield, Okomu Oil showcases Investor confidence. The Palm Oil Company, known for its consistent Dividend payments and a CAGR of 48%, presents a compelling case for potential Dividend growth in 2024, supported by a 16% YoY increase in Post-Tax Profit in 9M 2023.
Access Holdings: Despite a remarkable Year-to-Date gain of 102.94%, Access Holdings offers a compelling 9.28% Dividend yield, among the highest on the NGX. With a consistent track record of Dividend growth, even during a 5% decline in PAT in 2022, and robust financial performance, Access Holdings is well-positioned for sustained Dividend payments in 2024.
UBA: United Bank for Africa (UBA) has demonstrated an exceptional 173% YtD growth in Share Price, coupled with an appealing 6.75% Dividend yield. With a 287% YoY growth in Profit After Tax in the first nine months of 2023 and a consistent 5.29% Average Annual Growth Rate in Dividend payments over the past five years, UBA presents a promising outlook for increased Dividends in 2024. The Bank’s remarkable earnings growth and a 67% increase in Dividend payments in H1 2023 further support this positive trajectory.
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