All share index records 0% growth

MBABANE – The all share index of Eswatini Stock Exchange (ESE) recorded no growth in the past two days.

7his has forced the E6E market capitalisation to remain stagnant at E 3 .

0arket capitalisation refers to the total value of a company¶s shares of stock.

,t is calculated Ey multiplying the price of a stock Ey its total numEer of outstanding shares.

1edEank Eswatini yielded no gains, which forced their market capitalisa tion to remain at E 0 3 3.

6wd Empowerment (6E/) has a market capitalisation of E 000 000.

7he Royal Eswatini 6ugar (RE6) Corporation /imited has the highest market capitali]ation of E

0 .

Dividends to accounts

$t this rate, RE6 Corp is likely to have a larger share of dividends in the current financial period.

7he E6E has announced that divi dends from local companies listed in their markets should Ee paid directly to client¶s Eank accounts.

E6E said this was in line with the Central Bank of Eswatini¶s (CBE) media statement issued -uly 0 0 , announcing the elimination of cheTues as a mode of payment effective from -anuary 0 .

E6E said the announcement Ey CBE does not affect the role of the Eroker in the transaction of divi dends, as they are expected to make sure that shareholders are taken care of.

Brokers THE MARKET CAPITALISATION IS AS FOLLOWS:

E6E $nalysis 'epartment 9elem seni 7saEed]e, said Erokers needed to make sure that client¶s Eank accounts were active.

+e said the role of the Eroker re mains crucial, despite the cancellation of the cheTues as they were expected to make sure the dividends were re ceived Ey the shareholders.

³1othing much will change Ee tween the Eroker and sharehold ers, as the change will only affect the process of payments which the Eroker will Ee accounted for,” he said.

Dividends

7saEed]e also mentioned that the dividends are released Ey the compa nies and they will then transfer them to the shareholders who afore had to collect cheTues.

RE6 Corp yesterday confirmed that they would also discontinue the use of cheTues in their payment of dividends.

7hey reTuested shareholders to complete the Know Your Customer (KYC) verification form and furnish other reTuired documents.

RE6 Corp 6ecretary /ungile 0asan go said some shareholders had com pleted KYC and were expected to register successfully.

Requirements

³6hareholders who have already complied with the KYC reTuirements are reTuested to ignore the notice,” she said.

6he added that shareholders were expected to complete the details Eefore the next dividend payment is made.