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EQUITY MARKET : Socapalm distributes 1.5 billion dividends

The Cameroonian Palm Company (Socapalm) has shared dividends for the 2022 financial year, worth 1.5 billion FCFA. The redistribution proceeded on July 11, 2023 to the stock market shareholders of this agro-industry specialized in the production of palm oil.

This distribution follows the positive net result achieved by Socapalm on December 31, 2022. Although in slight decline, Socapalm’s profit amounted to 10.6 billion Fcfa (16.2 million euros), against 13.7 billion (20.9 million euros) in 2021, a decrease of just over 3 billion FCFA in relative value and 22.3 % in absolute value. There is also a decrease of 1.6 % (1.2 million FCFA) in its turnover in 2022. During this period, it shows 74 billion FCFA (112.8 million euros) compared to 75.2 billion FCFA (114.731 million euros) recorded at the end of 2021.

The Central African Securities Exchange (Bvmac) in a note signed by Louis Banga Ntolo, its Chief Executive Officer specifies that the net unit dividend amounts to 2,002.50 FCFA for the shares constituting the float listed on the stock exchange.
On the Cemac stock market, the Socapalm stock has not been making investors run around much since the beginning of 2023. According to the physiognomy of the market, SOCAPALM’s share ended the session of July 17, 2023 with a price of 48,000 FCFA against 51,000 FCFA two months ago (May 2023). However, several proposals to purchase the shares remain in the backlog: 12 Socapalm shares and 218 SCG-Ré shares. The market capitalization remains at just over 450 billion FCFA and the free float remains stable at 64.4 billion FCFA.

Sorelle Ninguem

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