The Tanzania Breweries Limited (TBL) stole the show at the Dar es Salaam Stock (DSE) trading last week despite a drop in the market's week-on-week turnover, precipitated by the festive-season preparations.
The maker of Kilimanjaro Premium Lager controlled 90.06 per cent of last week's turnover due to what analysts say was an indication that investors have high hopes in the beer brewer's business. Besides, the company, a subsidiary of South Africa's SABMiller, announced payment of Sh250/share as the 2nd interim dividend last week, a development that might have sent good news to investors.
"Dividend will be paid directly to the shareholder's bank account for those who have instructed so, or through the dividend cheques issued and payable by our transfer secretaries, the CRDB Bank at their branches and in areas where they do not operate, the Tanzania Posts Corporation shall make such payments on their behalf," reads a statement issued by the TBL board of directors last week.
And last week, the DSE's turnover dropped by 41 per cent to close at Sh38.90 billion from Sh65.44 billion of the previous week, thanks largely to TBL and CRDB performance.
Generally, no locally listed firm posted a price appreciation as investors shift focus to year-end new-year festivities.
Despite emerging as the best performer, TBL also saw its price per share drop by 5.02 per cent or Sh140 to close the week at Sh15,000 per share.
"This is that time of the year when individual investors start budgeting for upcountry trips to join their kith and kin during the festive season... .they are also thinking about paying school fees in January while their institutional counterparts also have some obligations to meet for their employees and for the state," the Zan Securities Limited chief executive officer, Mr Raphael Masumbuko told The Citizen recently.
With a depreciated price for TBL shares, the Tanzania Share Index (TSI) - which tracks the market value of all domestically listed shares at the DSE - ended at 4,549.81 points, 0.71 per cent lower than the 4,582.52 points posted during the preceding week. On the contrary, the All Share Index (DSEI) - which tracks the market value of both domestically listed and the cross-listed ones - closed at 2,388.07 points, being 1.35 per cent up from the preceding week's 2,356.16 points.Looking to the future analysts anticipate moderate activities based on a speculative motive in banks, finance & investment and industrial & allied counters as the festive season is nigh.
