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HomeBusinessSafaricom worth more than all banks, EABL combined after touching Sh. 21

Safaricom worth more than all banks, EABL combined after touching Sh. 21

Safaricom has touched a new all-time high of Sh. 21 per share on the Nairobi Securities Exchange making it the most valuable NSE company at a record high of over Sh. 801 billion.

This means that safaricom is now worth more than all NSE listed banks and leading brewer EABL put together!

Interestingly, Safaricom has been bullish at a ruthlessly bearish market.

The stock started rising last week when the company announced that it would be giving a special dividend of Sh. 0.68 per share on top of the full year dividend of Sh. 0.76 per share for the year ended March 2016. Investors have been rushing to the Safaricom counter in a bid to pocket the total dividend of Sh1.44 per share before September 2 deadline.

TELECOMMUNICATION AND TECHNOLOGY
Company Last Traded Price(Ksh) Prev Price(Ksh) Change(%)
Safaricom Ltd Ord 0.05 20.00 19.40
+3.09 Up

The company now accounts for 38.4 per cent of the entire stock market valuation. It is also valued at 6.8 times its net asset value of Sh2.9 per share or Sh116.7 billion in aggregate.

19.40

Previous
20.00   +0.60 (+3.09%)

End of day – Aug 02, 2016
21.00

High
19.50

Low

Investors who bought into the firm during its 2008 initial public offering (IPO) at Sh5 per share, for instance, have quadrupled their investment and stand to book a dividend yield of 28.8 per cent in December alone.

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