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Safaricom Investment Cooperative
Rank: Member Joined: 7/28/2006 Posts: 30
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Have been emailed the 2013 SIC financial report, in readiness for the AGM this Thursday. Highlights:
Net Surplus up 80% to 9,322,915 from 5,190,281
Proposed dividend up to 125 mil from 63 mil
Membership up 43%
Net assets up to 1,379,298,992 from 503,783,598
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Rank: Elder Joined: 5/1/2010 Posts: 3,024 Location: Hapa
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BGL wrote:This SIC still stinks even after the sacking of the General Manager, projects officer and supervisory committee secretary in August 2013.
The only thing worthy talking about is the bluebells apartments project which seems to be on track. @BGL, does your opinion still hold ama kuna mabadiliko? Any one else with views to share on SIC currently? Float like a butterfly, sting like a bee. - Muhammad Ali🐝
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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mwasjd wrote:Have been emailed the 2013 SIC financial report, in readiness for the AGM this Thursday. Highlights:
Net Surplus up 80% to 9,322,915 from 5,190,281
Proposed dividend up to 125 mil from 63 mil
Membership up 43%
Net assets up to 1,379,298,992 from 503,783,598
What's the DPS? The opposite of courage is not cowardice, it's conformity.
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Rank: Member Joined: 7/28/2006 Posts: 30
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@Jerry
Given that share capital balance brought forward is 457,182,574.00 and share price is 230, then total number of shares is 2 mil. Then DPS could be 63 bob (125 mil divided by 2 mil).
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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mwasjd wrote:@Jerry
Given that share capital balance brought forward is 457,182,574.00 and share price is 230, then total number of shares is 2 mil. Then DPS could be 63 bob (125 mil divided by 2 mil). Thanks The opposite of courage is not cowardice, it's conformity.
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Rank: Member Joined: 11/15/2010 Posts: 454 Location: Nairobi
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mwasjd wrote:@Jerry
Given that share capital balance brought forward is 457,182,574.00 and share price is 230, then total number of shares is 2 mil. Then DPS could be 63 bob (125 mil divided by 2 mil). @63Bob, Can't get better. SIC Pap! ....He who began a good work in you will carry it on to completion..
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Rank: Member Joined: 6/14/2010 Posts: 521 Location: Nairobi
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tinker wrote:mwasjd wrote:@Jerry
Given that share capital balance brought forward is 457,182,574.00 and share price is 230, then total number of shares is 2 mil. Then DPS could be 63 bob (125 mil divided by 2 mil). @63Bob, Can't get better. SIC Pap! Only 30% will be paid out while 70% is reinvented.
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Rank: New-farer Joined: 7/18/2012 Posts: 76
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Dividends at 27%. Share value increases from Sh. 230 to Sh. 280. Joining fee for new member Sh. 10,000. On dividend 30% to be paid in cash, 70% to be reinvested.
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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So if I had shares worth 500K means dividend is 27%*500K=135,000sh 30%(in cash)*135K=40,500sh in my bank. 40,500sh/500,000sh=8.1% dividend rate(cash) My question is, will the remaining 70% be re-invested into MY savings/shares account or a general reserve? Formally employed people often live their employers' dream & forget about their own.
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Rank: Member Joined: 11/15/2010 Posts: 454 Location: Nairobi
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bird_man wrote:So if I had shares worth 500K means dividend is 27%*500K=135,000sh
30%(in cash)*135K=40,500sh in my bank.
40,500sh/500,000sh=8.1% dividend rate(cash)
My question is, will the remaining 70% be re-invested into MY savings/shares account or a general reserve? @Bird_man. Yes, your 70% dividend will be automatically be converted to '2013 Bonus Dividends' as in your case example; your plough back amount is 94k, which translate to 337 bonus shares ....He who began a good work in you will carry it on to completion..
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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tinker wrote:bird_man wrote:So if I had shares worth 500K means dividend is 27%*500K=135,000sh
30%(in cash)*135K=40,500sh in my bank.
40,500sh/500,000sh=8.1% dividend rate(cash)
My question is, will the remaining 70% be re-invested into MY savings/shares account or a general reserve? @Bird_man. Yes, your 70% dividend will be automatically be converted to '2013 Bonus Dividends' as in your case example; your plough back amount is 94k, which translate to 337 bonus shares Thanks!Sounds great! Formally employed people often live their employers' dream & forget about their own.
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Rank: Member Joined: 6/14/2010 Posts: 521 Location: Nairobi
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bird_man wrote:tinker wrote:bird_man wrote:So if I had shares worth 500K means dividend is 27%*500K=135,000sh
30%(in cash)*135K=40,500sh in my bank.
40,500sh/500,000sh=8.1% dividend rate(cash)
My question is, will the remaining 70% be re-invested into MY savings/shares account or a general reserve? @Bird_man. Yes, your 70% dividend will be automatically be converted to '2013 Bonus Dividends' as in your case example; your plough back amount is 94k, which translate to 337 bonus shares Thanks!Sounds great! This SIC is doing better than most of the investments in NSE
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Rank: Veteran Joined: 1/3/2014 Posts: 1,063
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Hi Wazuans,I want to Join this bus.What is the minimum number of shares that I need to buy?I understand the share prices are between 215 and 230.I also need an existing member to act as my referee.Please assist. Consistency is better than intensity
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Rank: Member Joined: 4/2/2011 Posts: 629 Location: Nai
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After reviewing their 2013 financial statements, I decided to give SIC a wide berth.
Their reporting is as dodgy as they come. Any one who has a copy should try to reconcile the reported income and receivables from the Blue Bells Project.
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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butterflyke wrote:BGL wrote:This SIC still stinks even after the sacking of the General Manager, projects officer and supervisory committee secretary in August 2013.
The only thing worthy talking about is the bluebells apartments project which seems to be on track. @BGL, does your opinion still hold ama kuna mabadiliko? Any one else with views to share on SIC currently? Nothing has changed! SIC still stinks. If anything SIC is a cash cow for the so called Board. This is a place where the board can wake up one morning and say the share price is ANYTHING!!! and it is not supported by any tangible info. I will not be surprised if they do double allocations of those apartments and they charge you a withdrawing fee while it is not your fault. 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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Rank: Member Joined: 4/4/2007 Posts: 91
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The optimist wrote:bird_man wrote:tinker wrote:bird_man wrote:So if I had shares worth 500K means dividend is 27%*500K=135,000sh
30%(in cash)*135K=40,500sh in my bank.
40,500sh/500,000sh=8.1% dividend rate(cash)
My question is, will the remaining 70% be re-invested into MY savings/shares account or a general reserve? @Bird_man. Yes, your 70% dividend will be automatically be converted to '2013 Bonus Dividends' as in your case example; your plough back amount is 94k, which translate to 337 bonus shares Thanks!Sounds great! This SIC is doing better than most of the investments in NSE Hi Guys , I am well invested in SIC and believe it is a great solid investment vehicle . I wanted to confirm how the ploughed back dividends are allocated . I had the assumption that the 70% ploughed back dividends translate to share increase. so 0.7x0.27 = 0.19 -> 19% . The share price has increased from 230 to 280 ,margin of 21% . Is my logic correct? Knowledge is power , but action gets things done ...
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Rank: Member Joined: 4/4/2007 Posts: 91
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PeterReborn wrote:Hi Wazuans,I want to Join this bus.What is the minimum number of shares that I need to buy?I understand the share prices are between 215 and 230.I also need an existing member to act as my referee.Please assist. For joining membership , you require to buy min of 300 shares plus 10k joining fee . Share price has now been set to 280 Kes. So thats ( 280 x 300 ) + 10k = 94 ,000 KES Knowledge is power , but action gets things done ...
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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bird_man wrote:tinker wrote:bird_man wrote:So if I had shares worth 500K means dividend is 27%*500K=135,000sh
30%(in cash)*135K=40,500sh in my bank.
40,500sh/500,000sh=8.1% dividend rate(cash)
My question is, will the remaining 70% be re-invested into MY savings/shares account or a general reserve? @Bird_man. Yes, your 70% dividend will be automatically be converted to '2013 Bonus Dividends' as in your case example; your plough back amount is 94k, which translate to 337 bonus shares Thanks!Sounds great! But I'm thinking...why not just say dividend is 8.1% and there is a bonus share issue.Why do they have to lie saying its 27%? Formally employed people often live their employers' dream & forget about their own.
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Rank: Member Joined: 9/20/2007 Posts: 252
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Pirate wrote:PeterReborn wrote:Hi Wazuans,I want to Join this bus.What is the minimum number of shares that I need to buy?I understand the share prices are between 215 and 230.I also need an existing member to act as my referee.Please assist. For joining membership , you require to buy min of 300 shares plus 10k joining fee . Share price has now been set to 280 Kes. So thats ( 280 x 300 ) + 10k = 94 ,000 KES @ Pirate, is the joining working still applicable? Any new housing and land ventures coming up? Asante
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Rank: New-farer Joined: 6/3/2014 Posts: 58 Location: Nairobi
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mungaits wrote:Pirate wrote:PeterReborn wrote:Hi Wazuans,I want to Join this bus.What is the minimum number of shares that I need to buy?I understand the share prices are between 215 and 230.I also need an existing member to act as my referee.Please assist. For joining membership , you require to buy min of 300 shares plus 10k joining fee . Share price has now been set to 280 Kes. So thats ( 280 x 300 ) + 10k = 94 ,000 KES @ Pirate, is the joining working still applicable? Any new housing and land ventures coming up? Asante You can join Safaricom Investment Co-operative (SIC) at any time. Check out their website http://sic.co.ke/index.p...investment-co-operative for joining instructions. As for land deals, check their website too www.sic.co.ke or join their mailing list. As for housing, they have some flats called Blue Bells off Mombasa road. Check the same on http://sic.co.ke/index.p...te-investments-in-kenya
Regards Be ignorant and ask a few questions - Peter Drucker
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