Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
The Medicines Control Authority of Zimbabwe has authorised the use of Sinopharm and Sinovac shots from China, Russia’s Sputnik V and India’s Covaxin. The government has set aside US$100mn for the vaccines to procure around 20mn vaccine doses in order to immunise 60% of the population to attain herd immunity. As of the 12th of April, 234,709 people had received their first dose of the vaccine, while 29,304 received their second dose. The current drive is targeting frontline workers, school tea...
BAT Kenya announced FY18 results, posting a 22.5% rise in EPS to KES 40.85. Gross revenue grew 5.9% y/y to KES 36.5Bn, driven primarily by growth in the export market on account of increased volume and revenue due to incremental pricing and distribution expansion initiatives. This was despite the subdued performance in the domestic market as a result of the slow business environment, coupled with the negative impact of illicit trade. A total dividend of KES 35.0 per share was declared (KES 3.5 i...
On the Global front: The Framework Convention for Tobacco Control (FCTC) welcomed an era of global tobacco regulations. FCTC proposed tax measures, graphic pictorials and restricted advertisement to curtail consumption. Subsequent to the ratification of FCTC in 2005, global consumption volumes were on a steady decline by an average 2.6% between 2008 and 2015. However, tobacco companies acted fast to cushion their revenue by increasing retail prices the effect of which was an increase in retail v...
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