IBRP1 - Investec Redeemable Preference Shares
The Investec Redeemable Preference Shares (IBRP1) are cumulative preference shares issued by Investec Bank Limited on the JSE to provide investors with local dividend income with reference to the prime rate. The IBRP1 shares, which rank in priority to perpetual preference shares and ordinary equity of the issuer, is aimed at investors seeking attractive after tax income returns from a low risk investment.
The IBRP1 instrument accrues dividend income at a rate of 57% of prime, payable quarterly, with a maturity date of March 2021. This equates to a rate of 3.99% at the current prime rate. A comparable interest bearing investment would have to yield 5.80% for individuals and 5.54% for corporate investors in order to match the return offered by the IBRP1’s after tax, assuming the maximum tax rate of 45% and dividend withholding tax rate of 20%.
Investec Bank Limited is a specialist bank providing a diverse range of financial products and services to a niche client base in South Africa and Mauritius.
NOTE: Shares of Investec Redeemable Preference Shares (IBRP1) have been delisted from the Johannesburg Stock Exchange since close of trading on Tuesday, March 23, 2021.
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IBRP1 Stock Market Performance
The current share price of Investec Redeemable Preference Shares (IBRP1) is ZAR 7.92. IBRP1 closed its last trading day (Tuesday, March 16, 2021) at 1,007.92 ZAR per share on the Johannesburg Stock Exchange (JSE), recording a 0.1% gain over its previous closing price of 1,007.17 ZAR.
Investec Redeemable Preference Shares is the 398th most traded stock on the Johannesburg Stock Exchange over the past three months (Dec 10, 2020 - Mar 16, 2021). IBRP1 has traded a total volume of 14,487 shares—in 34 deals—valued at ZAR 14.6 million over the period, with an average of 75 traded shares per session. A volume high of 4,357 was achieved on February 9th for the same period. The table below details the last 10 trading days of activity of Investec Redeemable Preference Shares on the Johannesburg Stock Exchange.
Profile of Investec Bank Limited
Investec Bank Limited operates in the Financials sector, specifically, the Financial Services industry.
|Factsheet of Investec Bank Limited|
100 Grayston Drive, Sandown, Sandton, 2196, South Africa
+27-11-286-7000, +27-11-286-9546, +27-11-286-9616
IBRP1 Industrial Market Competitors
Investec Bank Limited, issuers of the IBRP1 and Investec Bank Preference Shares (+4.14%) stocks on the Johannesburg Stock Exchange, have a number of market competitors who are also engaged in the Financials sector and/or Financial Services industry. The table below presents an overview of the market standing of the top 10 by year-to-date performance.
|PPE||Purple Group Ltd||1.85B||1.57||+78.4%|
|TCP||Transaction Capital Ltd||28B||39.46||+58.5%|
|L4L||Long 4 Life Limited||3.12B||4.40||+33.7%|
|AEE||African Equity Emp Inv Ltd||589M||1.20||+29%|
|GPL||Grand Parade Inv Ltd||1.47B||3.13||+28.3%|
|HCI||Hosken Consolidated Investments Ltd||5.9B||68.88||+25.2%|
|PSG||PSG Group Limited||16.7B||74.85||+25%|
|SFN||Sasfin Holdings Limited||936M||28.98||+23.4%|
|CML||Coronation Fund Mngrs Ld||18.2B||52.00||+20.5%|