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Kenya Airways 2011/12 Financial Results
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hisah
#31 Posted : Thursday, June 14, 2012 10:40:15 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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jerry
#32 Posted : Thursday, June 14, 2012 10:42:46 AM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
VituVingiSana wrote:
The 25% profit warning was inadequate! No wonder the Management or Directors of KQ were not interested in buying the shares!

a better figure would have been at least 50%.
The opposite of courage is not cowardice, it's conformity.
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hisah
#33 Posted : Thursday, June 14, 2012 10:45:09 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
jerry wrote:
VituVingiSana wrote:
The 25% profit warning was inadequate! No wonder the Management or Directors of KQ were not interested in buying the shares!

a better figure would have been at least 50%.

If they did that, who would have bought the rights! It would have been a tough call for them to attempt to float that rights issue idea with such a stark profit warning...

That investor that was suing KQ was spot on.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Aguytrying
#34 Posted : Thursday, June 14, 2012 10:46:03 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


They've actually increased the dividend payout.

last year 1.5/7.65(eps)= 20% pay out

This year 0.25/1.11(eps)= 22.5% payout. ( new shares included) I think they are hoping this will save them.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Ngogoyo
#35 Posted : Thursday, June 14, 2012 10:47:58 AM
Rank: Member

Joined: 6/22/2011
Posts: 561
Location: House
at .25 per share they might as well ask for my m-pesa a/c its embarrassing to deposit the thingi. But like QW i will average out
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Aguytrying
#36 Posted : Thursday, June 14, 2012 11:06:04 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
@QW, Ngogoyo. If you really want to average down. I would suggest you wait for the price to come down.
IF management got their act together, they asy they'll cut costs. Theres no reason why they cant get back to profitabilty of 2011, which next year would give an eps of around 2.0. which is not bad bad at all. The prob is managemnt and thats a big IF.
The investor's chief problem - and even his worst enemy - is likely to be himself
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StatMeister
#37 Posted : Thursday, June 14, 2012 11:13:10 AM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
Aguytrying wrote:
hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


They've actually increased the dividend payout.

last year 1.5/7.65(eps)= 20% pay out

This year 0.25/1.11(eps)= 22.5% payout. ( new shares included) I think they are hoping this will save them.


My feelings for this counter are unchanged. This is a company that has lost direction.

This time, they made twice as much from derivatives as from flying planes (2.5b vs. 1.3b). I somehow thought they would lose money on those fuel hedges, but lo!

I wonder what transpires this year . . .
A bad day fishing is better than a good day at work
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ProverB
#38 Posted : Thursday, June 14, 2012 11:51:21 AM
Rank: Veteran

Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


..plus i remember the Financial Director saying they would continue with "Debt Financing" now that intended funds from rights weren't fully realized!! ...makes you wonder... isn't retained earnings cheaper than debt??

...ama its just a ploy to appease investors..play market valuation?

And on matters management...

..a company is a Thought...infact, a conceptualized thought...not building..not personnel..not product... until Large shareholders realize Naikuni's time is done.. it's a sad future ahead..

..what is needed...re engineer the thinking..revolutionize entire thought concept on airline biz..and things will change.
...after all..they can change buildings...change entire workforce.. redo products..and the company still continues...but stunt the thinking..and crap happens...as it is..
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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hisah
#39 Posted : Thursday, June 14, 2012 12:15:52 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Aguytrying wrote:
hisah wrote:
I'm shocked they've declared dividends. I was expecting them to hold onto that cash now that the rights got undersub... However dividend has been cut down by 1.25/- to 25cts from 1.50/-

Passengers aboard this stock are advised to fasten their seatbelts for the nosedive.


They've actually increased the dividend payout.

last year 1.5/7.65(eps)= 20% pay out

This year 0.25/1.11(eps)= 22.5% payout. ( new shares included) I think they are hoping this will save them.

@Aguy - I hadn't factored the new shares from the rights issue. Indeed an increment of the dividend payout! I don't understand this KQ management reasoning. They should hold on to cash and avoid debt financing for a while esp with the current high interest rates. Investors should vote down the dividend pay at the AGM. Also tough questions need to be asked to the management since it seems they're making more money from hedges than the business operations!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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VituVingiSana
#40 Posted : Thursday, June 14, 2012 12:51:38 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
BIDS 27,600
Quantity Price Splits Time
4,000 13.90 1 12:40:18
1,000 13.80 1 12:40:18
1,800 13.70 2 12:40:18
6,800 13.50 3 12:40:18
14,000 13.00 1 12:40:18
ASKS 53,500
Quantity Price Splits Time
28,600 14.00 3 12:40:18
1,900 14.50 1 12:40:18
500 14.70 1 12:40:18
4,200 15.00 5 12:40:18
400 15.40 1 12:40:18
TRADES
Quantity Price Time
6,000 13.90 12:40:17
1,000 13.95 12:40:11
1,000 13.95 12:29:20
400 13.95 12:28:43
2,000 13.95 12:28:30
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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