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Safaricom Investment Cooperative
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mwasjd
#81 Posted : Thursday, February 21, 2013 6:46:03 PM
Rank: Member

Joined: 7/28/2006
Posts: 30
AGM Highlights:

Membership up 34.5% to 1340
Assets up 84% to 503m
Revenue up 58% to 76m
Shareholder funds up 135% to 233m
Surplus up 49% to 63m

Strategy to move to offering serviced plots, affordable housing units & commercial farming. Apartment project in Mlolongo to proceed with construction immediately after general elections after waiting for stabilization of interest rates.
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eco
#82 Posted : Thursday, February 21, 2013 7:06:56 PM
Rank: Member

Joined: 6/17/2011
Posts: 229
mwasjd wrote:
AGM Highlights:

Membership up 34.5% to 1340
Assets up 84% to 503m
Revenue up 58% to 76m
Shareholder funds up 135% to 233m
Surplus up 49% to 63m

Strategy to move to offering serviced plots, affordable housing units & commercial farming. Apartment project in Mlolongo to proceed with construction immediately after general elections after waiting for stabilization of interest rates.



Thank you. Any info on the dividends?
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mwasjd
#83 Posted : Friday, February 22, 2013 10:27:59 AM
Rank: Member

Joined: 7/28/2006
Posts: 30
Return on members deposit was 28%. AGM resolution was 70% reinvestment to support apartments project while members take home 30% as their actual dividend.
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bird_man
#84 Posted : Friday, February 22, 2013 11:03:54 AM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Doesnt that mean actual dividend is 8.4%?
Formally employed people often live their employers' dream & forget about their own.
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BGL
#85 Posted : Friday, February 22, 2013 10:19:28 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
bird_man wrote:
Doesnt that mean actual dividend is 8.4%?


Exactly, 8.4% in cash and 19.6% as bonus shares.
SIC needs cash to finance the ongoing land and housing projects hence the need for dividend capitalization.

History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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BGL
#86 Posted : Tuesday, February 26, 2013 2:33:45 PM
Rank: Veteran

Joined: 10/11/2009
Posts: 1,223
mozenrat wrote:
I have my doubts... We calculated the dividends paid to a friend who is a member of SIC and it was coming to about 35%... Also most Saccos declare earnings in two ways.. Interest on deposits and dividends on shares... there is no such structure in SIC



I just do not understand how they make their calculations. Anybody having the same problem to explain how they do it.

The alien algorithms they are using are not only complex but weird.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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mchawi
#87 Posted : Thursday, February 28, 2013 8:33:28 PM
Rank: New-farer

Joined: 4/4/2011
Posts: 94
Location: Nairobi
BGL wrote:
mozenrat wrote:
I have my doubts... We calculated the dividends paid to a friend who is a member of SIC and it was coming to about 35%... Also most Saccos declare earnings in two ways.. Interest on deposits and dividends on shares... there is no such structure in SIC



I just do not understand how they make their calculations. Anybody having the same problem to explain how they do it.

The alien algorithms they are using are not only complex but weird.


I've also been wondering. In the meantime I continue enjoying the growth of my investment..
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CLK
#88 Posted : Friday, March 15, 2013 9:42:07 AM
Rank: Member

Joined: 4/1/2009
Posts: 846
BGL wrote:
bird_man wrote:
Doesnt that mean actual dividend is 8.4%?


Exactly, 8.4% in cash and 19.6% as bonus shares.
SIC needs cash to finance the ongoing land and housing projects hence the need for dividend capitalization.



@BGL, if i wanted to withdraw from the co-op, can i get everything including the bonus shares? ofcourse in cash
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Meduza
#89 Posted : Friday, March 29, 2013 11:34:16 PM
Rank: Member

Joined: 2/7/2013
Posts: 447
Location: Nairobi
This is good information...was told about the sacco but didnt know much...the person who told me is actually a benefitially of this sacco who has been in it for the last 2 years.
You cant win, unless you first begin....
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The optimist
#90 Posted : Thursday, May 09, 2013 10:32:14 AM
Rank: Member

Joined: 6/14/2010
Posts: 521
Location: Nairobi
Today is Blue bells apartments ground breaking for Safaricom Investment Cooperative
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