BRVM investors reap $1bn in 2023 as dividends boost stocks
TLDR
- BRVM securities deliver significant gains in 2023, boosting assets by $1 billion through dividends and capital gains
- Nine companies on Abidjan stock exchange declare net dividends of 400.3 billion FCFA, with Coris Bank International leading at 790 FCFA per share
- Analysts predict exceeding the 2022 record of 600 billion FCFA in dividends, with an average net dividend yield of 11%
Investors in BRVM securities enjoyed substantial gains in 2023, with dividends and capital gains boosting assets by $1 billion. Nine companies on the Abidjan-based regional stock exchange have already announced net dividends totaling 400.3 billion FCFA ($660 million) for the year. Coris Bank International leads with a net dividend of 790 FCFA per share.
Expectations are high for more dividend announcements and shareholder remuneration proposals. Analysts anticipate surpassing the record 600 billion FCFA distributed in 2022. The average net dividend yield stands at 11%.
In addition, potential capital gains from increased share prices in 2023 generated 655.11 billion FCFA. Total direct and indirect gains amount to 1.0554 trillion FCFA ($1.8 billion) for investors, institutions, and small savers, per an analysis by Afrimag.
Key Takeaways
The dividends for 2024 receive a significant boost from heightened distribution proposals, notably with the introduction of Orange Côte d'Ivoire, offering 117.7 billion FCFA to shareholders in its debut year on the stock market. This places it as the second-largest net dividend distributor on the BRVM, following Sonatel, with plans to distribute 157.5 billion FCFA. Noteworthy are the Moroccan group Bank of Africa's banks, boasting a net dividend yield exceeding 9%, with BOA Côte d'Ivoire showcasing a remarkable capital gain of 86.4%. Attention is drawn to the dividend proposals of Ecobank and NSIA Banque Côte d'Ivoire, renowned for their generous dividend policies. Investors keenly observe these institutions, anticipating favorable returns amidst the evolving market dynamics.
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