Manonamission:
For those that ask about the difference in qualification and closure of register dates

mendes911:


What's 300% of 35k?

Leave all these English and confess you didn't know when the car reversed gear.

onegentleguy:



There has always been the slight misconception on how best to differentiate between Qualification date and Closure of register.
But the truth is that as investors our concern should be with just one of this process, which is the former.
...because the later isn't really of any core effect to us.
For the sake of those who still see confusion in the mix, I shall make an attempt to clear things up.
But before I do that, let's try to define the 2 terms, shall we;

Qualification date- This is simply the last day for which a prospective investor can purchase or sale a share in anticipation of receiving any dividend or bonus (script issue) following the declaration of results by a listed company.

Closure of registrar- This is the period within which a company updates its register/database with the view of determining the no of shareholders eligible or qualified for a dividend or bonus.

Now let's break it down further a bit;
1st on Qualification date;
Note that it is just A SPECIFIC DATE. ...JUST A DAY (ie 6th of Aprill ).
From the definition, it simply means that for one to QUALIFY or in other words partake of a dividend or bonus, u have to purchase or sale that share from ur target company ON OR BEFORE the specified date. ...which is the QUALIFICATION DATE.
...and so any purchase made outside this date will be deemed ineligible.

Now on Closure of register;
Note that unlike qualification date, it is usually a range of days (ie 8-11th of Aprill ...though in rare cases, might also be a single day).
...from the definition, this is just the day(s) when the company gets to work to update their register for persons who bought/sold shares on or before the QUALIFICATION DATE (ie ...they include those who bought on or before the qualification date and exclude those who sold therafter).
...this is why often times, u may hear statements like 'those whose names appear in the register of booklet on ...

CONCLUSION:

From the explanations above, it therefore means that as investors, our basis for concern should only be with the QUALIFICATION DATE (...whether we are qualified to partake or not), and not THE CLOSURE OF REGISTER (...which is clearly a matter for the company).
Now there might sometimes be a few cases where the QUALIFICATION DATE is the same as the 1st day within the range of days for the CLOSURE OF REGISTER (ie qualification date 3rd March, closure of register 3-6th of March).
In this scenerio, the company plans to immediately start out with updating their register on the last day of qualification.
...well if they wish to, then that's a matter for them. ...ur only concern is to make sure u are eligible for anything declared whether u are buying or selling. ...and how do u do that? ...just ensure u bought or sold on or before the QUALIFICATION DATE.

So the next time u purchase or wish to sell a share from a company with a dividend or bonus declared, just concentrate and concern urself only with the QUALIFICATION DATE and forget about the closure of register.

...Unless of curse u are one of those handling the said companys register or database.

hope this helps some persons out there.

mendes911:


Does that include our Nascon Millionaire's stock and that mighty Fidelity stock?

kolaish:
I think that the market is still trying to digest zenith result and in a matter of days, we will see the effect of the positive dividend declared by zenith.

This type of result will never go unnoticed positively.
Disclosure: Yours truly bought today @ 31.50

emmanuelewumi:
@ Onegentleguy, if you sold on the qualification date you won't qualify for dividend and bonus.

emmanuelewumi:
@ Onegentleguy, if you sold on the qualification date you won't qualify for dividend and bonus.

EchoLima262:


Nice work from @onegentleguy. However, I believe that the word "after" should replace the word "outside" in the sentence "...and so any purchase made outside this date will be deemed ineligible" I will also add that "Qualification date" is effective end of stated day while "Closure of Register" is effective beginning of stated date.

EchoLima262:


Nice work from @onegentleguy. However, I believe that the word "after" should replace the word "outside" in the sentence "...and so any purchase made outside this date will be deemed ineligible" I will also add that "Qualification date" is effective end of stated day while "Closure of Register" is effective beginning of stated date.

sellydion:
At the close of business on the qualification date, who is the owner of the security?

The buyer becomes the owner as such qualify for dividend. He would have bought cum div.

kolaish:
I think that the market is still trying to digest zenith result and in a matter of days, we will see the effect of the positive dividend declared by zenith.

This type of result will never go unnoticed positively.
Disclosure: Yours truly bought today @ 31.50

Toluway:

Guess you're new here. They want to buy same stock from it's lowest support. That is the nature of the game here.

RabbiDoracle:


Nwanne, summarise this post for me.

Agbalowomeri:


Not pillow
pillow case

RabbiDoracle:


Na wah for you ooo...

How can one buy Japaul from the lowest support?

People have held Japaul from 2012 till this rally and sold.

Na the same warning dem give you, you no hear until you entered Fidelity at 4.33.

So they talked down the stock abi?

awesomeJ:

The pillow case has 50 times more room for cash stocking than an actual pillow. Right?

Toluway:

Why quarrelling! ? I wasn't talking about Japaul and I know nothing about Japaul. I only made a comment.
I didn't tell you I bought Fidelity and at whatever price.
Even if I bought it, flunctuating prices is an essential characteristics of the market. Fidelity Bank is never a bad stock. It was negatively affected by CBN recent policy and it will pick up soon. Mark my word. Ain't seen who warned me about nothing. I don't regret anything.
Whatever be the case, let's not engage in interpersonal attacks here. I hereby[b] tender apology[/b] if I've offended somebody. Cheers.

Agbalowomeri:


You didn't add 'unreserved'

RabbiDoracle:
Zenith trading income is huge ooo.

Trading gains is 36.7% of total net income (i.e. net interest income + trading income +other incomes)

Net interest income is 37.1% of the total net income.

Hmmm....


While in 2016

Trading gain is 8.5% of total net income.(i.e. net interest income + trading income +other incomes)

Net interest income is 62.7% of total net income.

This means in 2016 there was lending to the real sector while in 2017 there was not much lending.

I believe all bank results will be like this.

onegentleguy:



That's why I said the seller has to sell at least a day before the qualification date. ...unlike the buyer that has until the exact day of qualification to be eligible.

Intendy:
stocks with new 52 week lows
sovereign #0.32k
ftn cocoa #0.31k
Africa alliance #0.30k
Thomas wyatt #0.48k
capital oil #0.42k
regency alliance #0.33k
Stocks with new 52 week high
Dangote Sugar #23.35

awesomeJ:

I think they record T-bills and other fixed income proceeds under trading income, hence the spike in FY17.

Intendy:
stocks with new 52 week lows

sovereign #0.32k

ftn cocoa #0.31k

Africa alliance #0.30k

Thomas wyatt #0.48k

capital oil #0.42k

regency alliance #0.33k

no new 52 week highs

Intendy:
stocks with new 52 week lows

sovereign #0.32k

ftn cocoa #0.31k

Africa alliance #0.30k

Thomas wyatt #0.48k

capital oil #0.42k

regency alliance #0.33k

no new 52 week highs

Agbalowomeri:


You didn't add 'unreserved'