Stock market: Sonatel SN and Orange CI remained stable

2024-04-12 09:37:30

Commentary on variations : Overall the market begins the week with another good performance that is relatively weak, but still allows us to close in the green on this trading session. This increase of 0.09% to 218,79 points is the result of the good performances of the largest stocks on the market: Ecobank CI, Onatel BF and Total SN.

Sonatel SN and Orange CI shares remained stable (0.0%) during this day, respectively keeping their prices at 19 000 F CFA et 10,845 FCFA.

However, the FLOP 3 recorded on the market is composed of Sicable (-5.17%) bringing its price to 1 100 F CFASGBCI (-3.05%) is positioned at 17 500 F CFA and Bernabe CI which has a counter performance of 1.21% bringing its trading price to now 1 225 F CFA.

Furthermore, the securities that were heavily traded on this trading day are as follows: BOA CI (-0.62%) with more than 123 millions de F CFA enthusiasm being undoubtedly the result of the announcement of the dividends which will be distributed followed by Orange CI (0.00%) which was traded on the market at more than 74 millions de F CFA.

As for the 3 best performances of the day, we have in the lead, Tractafric Motors CI (+7.14%), followed by Onatel BF (+4.35%) and Total SN (+4.08%) which closes the walk.

Regarding the information communicated in the BOC:

State of Burkina 6.30% 2022-2034: The Regional Securities Exchange (BRVM) informs the public and market participants that the Public Treasury of Burkina Faso will proceed, on May 15, 2024to the payment of half-yearly interest on his loan.

Convocation of Ecobank CI General Meeting: Shareholders of Ecobank Côte d’Ivoire are convened to the Ordinary General Meeting which will be held on Thursday 25 avril 2024, at 10 o’clock, at the Radisson Blu hotel, located in Abidjan Port-Bouët, road to Félix Houphouët Boigny International Airport. The Ordinary General Meeting, upon proposal from the Board of Directors, decides to allocate as dividends to be distributed a gross amount of 36,333,396,000 FCFA which is equivalent to a net dividend per share of 594 FCFA.

IFRS financial statements of SAPH CI: The company Saph CI has published its financial statements for the 2023 financial year. Thus, the turnover is decreasing from 224 billion FCFA in 2022 to 206 billion FCFA in 2023. Being on the same momentum, the net profit has fallen drastically, going from 16 billion in 2022 to only 3.6 billion in 2023. The company Saph CI has still decided to distribute a total dividend of 1.8 billion to all of its shareholders for the 2023 financial year representing a gross dividend per share of 72 FCFA.

2023 SIB activity report: The Société Ivoirienne de Banque (SIB) has published its activity report for the 2023 financial year. In terms of profitability, the bank posted robust financial results in December 2023. Net banking income reached 96 billion XOF , recording significant growth of +14%, mainly supported by the increase in service revenues (+23.5%) and market activities (+12%). The net profit also increased by +9% reaching 43.5 billion FCFA. In view of these performances, the Board of Directors of SIB intends to submit to the next Ordinary General Meeting of Shareholders an amount of gross dividend to be distributed representing nearly 63% of the net profit for the financial year under review. The company will therefore distribute 27.4 billion FCFA, or a gross dividend per share of 548 FCFA.

Vocabulary Point : In the sukuk

Sukuk are Islamic financial securities, similar to a conventional bond, respecting the religious (Muslim) precepts of Sharia. The Sukuk is legally similar to a title to an asset that generates financial flows. Since the interest payment system of a traditional bond is prohibited, the issuer of a sukuk sells the title to an asset (which can be a building) to a group of investors, who rents it back to the issuer for a rent fixed in advance. The issuer also undertakes to repurchase the bonds on a specific date and at the issue price.

Sukuks must be able to justify that their return comes directly from the purchase of an asset, or from the return on investment linked to the purchase of an asset.