Dividends boost DSE business

The Dar es Salaam Stock Exchange (DSE) monthly turnover inched up by 50 per cent last month compared to the previous month, boosted by banks' dividends.

According to Orbit Securities, a brokerage firm, monthly report the turnover shot up to 2.73bn/- in May against 1.89bn/- that was recorded in April.

"The investors were boosted by declaration of 50/- dividend per share by NMB and DCB Bank each for (last) year," a report compiled by Orbit Securities indicates.

Tanzania Share Index (TSI) slumped down by 3.6 per cent to close the market on Wednesday at 1,193.21 points. "The drop in price for CRDB and NMB affected the index," Orbit report shows.

According to Orbit, CRDB share plummeted by 50 per cent in the last six months to close the trade in May at 225/-. But in the first three days of this month the bank's share dropped further to 110/- a share.

While the NMB share also dropped by 40 per cent to close the month under corresponded trading at 910/-. However, the share are now changing  hands at 900/-.

During the month under review, TBL, NMB, TPCC and CRDB counters dominated the market. TBL counter managed to transact 464,429 shares worth 1.2bn/-, NMB traded 496,385 shares valued 447.98m/-, Twiga 422.13m/- and CRDB 346.96m/-.

Meanwhile, the Unit Trust of Tanzania (UTT) shows mixed trend for Net Asset Value (NAV) for Umoja Fund, Wekeza Maisha, Watoto Fund and Jikimu Funds at the end of last month.

 Umoja Fund NAV dropped to Shs 206.3248 from Tshs 207.2572, Wekeza Maisha edged up to Tshs. 167.9360 (Tshs 167.0330) and Watoto Fund rose to Tshs 144.8753 (144.6705) whereas Jikimu Funds NAV appreciated to Tshs 104.7041 (Tshs104.3390).

Source: The Daily News,http://www.dailynews.co.tz, reported by Abduel Elinaza

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