Pesa Nane wrote:Unaitas boosts its share capital ahead of change to bankNet profits FLAT at
Sh258.56 million in 2014 Vs Sh246.66 million in 2013.
2014 Loans and advances 33% up to
Sh4.85 billion Vs Sh3.64 billion in 2013.
Share capital
Sh1.44 billion in 2014 Vs Sh693 million in 2013
Sacco membership increased 43 per cent to 200,000
Revenue reserves up 46% to Sh461.8 million from Sh316.9 million in 2013
"Unaitas chief executive Tony Mwangi said the lender has been increasing its reserves in preparation for the conversion [into a commercial bank] and listing on the NSE which is expected to happen in
2018"
At this rate, are you guys really going to get dividends at your usual rate or it will be more like 5%?
This stock is on my wish list. I am planning to buy in some time this year. The reasons I haven't boarded this bus yet are:-
1) I am waiting to see how the increase in number of shares affects dividend payouts (Not so important long term but important short term because there is virtually no capital gains till they close the register/stop selling the shares)
2) I have some other investments I need(ed) to finance. The first was Housing Finance rights which I threw everything I had (hoping for no or minimal refunds). Two more then Unaitas.
3) I am hoping I can get an indication of when the share sale is likely to close. 9% dividend yield with 0% capital gains is very tame! Getting in just before they slam the door shut would be the ideal situation for me!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.