dfcu share price up 75%
May 10, 2005
dfcu’s share price gained by 75% to close at sh400 yesterday on the Uganda Securities Exchange (USE) from sh230 during the Initial Public Offer (IPO) last year.
By Peter Kaujju
DFCU’S share price gained by 75% to close at sh400 yesterday on the Uganda Securities Exchange (USE) from sh230 during the Initial Public Offer (IPO) last year.
Dfcu recently announced a sh18.42 final dividend and a bonus share for every four ordinary shares to shareholders on the register at the closure of business on May 18, 2005.
Dfcu had sh104m in turnover after trading 260,310 shares at sh400 each, a sh30 gain from sh370 last Tuesday.
Davis Gathaara of Mbea Brokerage Services said the trend was due to the impending closure of the dividend and bonus offer by the company.
“The increase in dfcu’s share price was due to a last minute rush by people to secure the recently-announced dividend and bonus. But given the trends at USE, we shall not be surprised to see dfcu’s share price drop marginally to sh370/380 after offering the dividend and bonus,†he said.
DFCU’S share price gained by 75% to close at sh400 yesterday on the Uganda Securities Exchange (USE) from sh230 during the Initial Public Offer (IPO) last year.
Dfcu recently announced a sh18.42 final dividend and a bonus share for every four ordinary shares to shareholders on the register at the closure of business on May 18, 2005.
Dfcu had sh104m in turnover after trading 260,310 shares at sh400 each, a sh30 gain from sh370 last Tuesday.
Davis Gathaara of Mbea Brokerage Services said the trend was due to the impending closure of the dividend and bonus offer by the company.
“The increase in dfcu’s share price was due to a last minute rush by people to secure the recently-announced dividend and bonus. But given the trends at USE, we shall not be surprised to see dfcu’s share price drop marginally to sh370/380 after offering the dividend and bonus,†he said.