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Safaricom Investment Cooperative
Rank: New-farer Joined: 6/3/2014 Posts: 58 Location: Nairobi
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murchr wrote:MaichBlack wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:Following the AGM held on 28th February 2015, the following were reviewed and adopted as resolutions:
1.The share price adjustment will be pegged on the performance of the Society in the previous year.
2. Based on #1 above the share price was adjusted to Ksh.350 from Ksh.280. This is effective from 28th Feb 2015
3. The rebates will be distributed on a 65% plough back and 35% payout ratio. Payment will start from 11th March to 31st March 2015.
4. The Board size to expand to 9 from the current 7. This is effective from 2016
5. One slot in the Board is to be assigned to members who are non-Safaricom staff
6. Eligibility to the Board to change from 2years membership to 3years membership. Other terms remain unchanged.
7. Joining fees for groups adjusted to Ksh. 30,000 from the previous Ksh. 15,000.
8. All groups are to make a minimum monthly payment of Ksh.15,000 being Ksh.3,000 per member.
9. Groups are to make contributions per member at the rate of Ksh.3,000 per member These questions are directed to all "chair" holders 1) I want to get in just before the next AGM. That means I buy at 350/=, right? Yes 300 shares at 350 ea2) How will my dividends be calculated? 100% or prorated (to almost 0% if I join just before the AGM)? depends on when you get in, ref BGL answered this above3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] 4) Am I eligible as a non Safcom individual. Yes tho you may need to be introduced by a member5) What if I want to get out (not that I am planning to)? Is there an exit procedure? share buy back etc. Yes, shares are floated every Tuesday I guess Check out their webpage sic.co.ke Thanks bro. Very helpful. Only thing remaining is my 3rd question. Cheers! I'd like to know the answer of that too...I just joined.  3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] There is no way your dividend will not be enough to be ploughed back. For example if your dividend is KSH10, then Kshs 6.5 worth of shares will be ploughed back. Remember that SIC provides shares in decimal places. So you might end up with 0.02 sharesBe ignorant and ask a few questions - Peter Drucker
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Rank: Elder Joined: 7/22/2009 Posts: 7,838
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Stract_Consulting wrote:murchr wrote:MaichBlack wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:Following the AGM held on 28th February 2015, the following were reviewed and adopted as resolutions:
1.The share price adjustment will be pegged on the performance of the Society in the previous year.
2. Based on #1 above the share price was adjusted to Ksh.350 from Ksh.280. This is effective from 28th Feb 2015
3. The rebates will be distributed on a 65% plough back and 35% payout ratio. Payment will start from 11th March to 31st March 2015.
4. The Board size to expand to 9 from the current 7. This is effective from 2016
5. One slot in the Board is to be assigned to members who are non-Safaricom staff
6. Eligibility to the Board to change from 2years membership to 3years membership. Other terms remain unchanged.
7. Joining fees for groups adjusted to Ksh. 30,000 from the previous Ksh. 15,000.
8. All groups are to make a minimum monthly payment of Ksh.15,000 being Ksh.3,000 per member.
9. Groups are to make contributions per member at the rate of Ksh.3,000 per member These questions are directed to all "chair" holders 1) I want to get in just before the next AGM. That means I buy at 350/=, right? Yes 300 shares at 350 ea2) How will my dividends be calculated? 100% or prorated (to almost 0% if I join just before the AGM)? depends on when you get in, ref BGL answered this above3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] 4) Am I eligible as a non Safcom individual. Yes tho you may need to be introduced by a member5) What if I want to get out (not that I am planning to)? Is there an exit procedure? share buy back etc. Yes, shares are floated every Tuesday I guess Check out their webpage sic.co.ke Thanks bro. Very helpful. Only thing remaining is my 3rd question. Cheers! I'd like to know the answer of that too...I just joined. 3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] There is no way your dividend will not be enough to be ploughed back. For example if your dividend is KSH10, then Kshs 6.5 worth of shares will be ploughed back. Remember that SIC provides shares in decimal places. So you might end up with 0.02 shares So they re - invest my 6.5 and probably your 65 and we BOTH end up with shares worth say 425/= each the following year? Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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MaichBlack wrote:Stract_Consulting wrote:murchr wrote:MaichBlack wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:Following the AGM held on 28th February 2015, the following were reviewed and adopted as resolutions:
1.The share price adjustment will be pegged on the performance of the Society in the previous year.
2. Based on #1 above the share price was adjusted to Ksh.350 from Ksh.280. This is effective from 28th Feb 2015
3. The rebates will be distributed on a 65% plough back and 35% payout ratio. Payment will start from 11th March to 31st March 2015.
4. The Board size to expand to 9 from the current 7. This is effective from 2016
5. One slot in the Board is to be assigned to members who are non-Safaricom staff
6. Eligibility to the Board to change from 2years membership to 3years membership. Other terms remain unchanged.
7. Joining fees for groups adjusted to Ksh. 30,000 from the previous Ksh. 15,000.
8. All groups are to make a minimum monthly payment of Ksh.15,000 being Ksh.3,000 per member.
9. Groups are to make contributions per member at the rate of Ksh.3,000 per member These questions are directed to all "chair" holders 1) I want to get in just before the next AGM. That means I buy at 350/=, right? Yes 300 shares at 350 ea2) How will my dividends be calculated? 100% or prorated (to almost 0% if I join just before the AGM)? depends on when you get in, ref BGL answered this above3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] 4) Am I eligible as a non Safcom individual. Yes tho you may need to be introduced by a member5) What if I want to get out (not that I am planning to)? Is there an exit procedure? share buy back etc. Yes, shares are floated every Tuesday I guess Check out their webpage sic.co.ke Thanks bro. Very helpful. Only thing remaining is my 3rd question. Cheers! I'd like to know the answer of that too...I just joined. 3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] There is no way your dividend will not be enough to be ploughed back. For example if your dividend is KSH10, then Kshs 6.5 worth of shares will be ploughed back. Remember that SIC provides shares in decimal places. So you might end up with 0.02 shares So they re - invest my 6.5 and probably your 65 and we BOTH end up with shares worth say 425/= each the following year? You are not clear Maich "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 4/4/2007 Posts: 91
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murchr wrote:MaichBlack wrote:Stract_Consulting wrote:murchr wrote:MaichBlack wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:Following the AGM held on 28th February 2015, the following were reviewed and adopted as resolutions:
1.The share price adjustment will be pegged on the performance of the Society in the previous year.
2. Based on #1 above the share price was adjusted to Ksh.350 from Ksh.280. This is effective from 28th Feb 2015
3. The rebates will be distributed on a 65% plough back and 35% payout ratio. Payment will start from 11th March to 31st March 2015.
4. The Board size to expand to 9 from the current 7. This is effective from 2016
5. One slot in the Board is to be assigned to members who are non-Safaricom staff
6. Eligibility to the Board to change from 2years membership to 3years membership. Other terms remain unchanged.
7. Joining fees for groups adjusted to Ksh. 30,000 from the previous Ksh. 15,000.
8. All groups are to make a minimum monthly payment of Ksh.15,000 being Ksh.3,000 per member.
9. Groups are to make contributions per member at the rate of Ksh.3,000 per member These questions are directed to all "chair" holders 1) I want to get in just before the next AGM. That means I buy at 350/=, right? Yes 300 shares at 350 ea2) How will my dividends be calculated? 100% or prorated (to almost 0% if I join just before the AGM)? depends on when you get in, ref BGL answered this above3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] 4) Am I eligible as a non Safcom individual. Yes tho you may need to be introduced by a member5) What if I want to get out (not that I am planning to)? Is there an exit procedure? share buy back etc. Yes, shares are floated every Tuesday I guess Check out their webpage sic.co.ke Thanks bro. Very helpful. Only thing remaining is my 3rd question. Cheers! I'd like to know the answer of that too...I just joined. 3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] There is no way your dividend will not be enough to be ploughed back. For example if your dividend is KSH10, then Kshs 6.5 worth of shares will be ploughed back. Remember that SIC provides shares in decimal places. So you might end up with 0.02 shares So they re - invest my 6.5 and probably your 65 and we BOTH end up with shares worth say 425/= each the following year? You are not clear Maich Gents, I have been a member of SIC for 3 yrs , let me attempt to break it down. This year SIC made 27% profit and declared div of 25% of which ratio of div ploughed back: cash payout was 65:35 . Meaning if you had shares worth 100,000 , dividend would be 25,000 of which 16,250 is re-invested (@ Kes 270/share ) and 8,750 is paid cash. You have an option to reinvest the 8,750 (@270/share) . The share price was then revised up by 25% to 350 and instantly your 'slaves 'are worth ,10,970 + 20,312 = 31,282 if you decided to reinvest . Knowledge is power , but action gets things done ...
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Pirate wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:murchr wrote:MaichBlack wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:Following the AGM held on 28th February 2015, the following were reviewed and adopted as resolutions:
1.The share price adjustment will be pegged on the performance of the Society in the previous year.
2. Based on #1 above the share price was adjusted to Ksh.350 from Ksh.280. This is effective from 28th Feb 2015
3. The rebates will be distributed on a 65% plough back and 35% payout ratio. Payment will start from 11th March to 31st March 2015.
4. The Board size to expand to 9 from the current 7. This is effective from 2016
5. One slot in the Board is to be assigned to members who are non-Safaricom staff
6. Eligibility to the Board to change from 2years membership to 3years membership. Other terms remain unchanged.
7. Joining fees for groups adjusted to Ksh. 30,000 from the previous Ksh. 15,000.
8. All groups are to make a minimum monthly payment of Ksh.15,000 being Ksh.3,000 per member.
9. Groups are to make contributions per member at the rate of Ksh.3,000 per member These questions are directed to all "chair" holders 1) I want to get in just before the next AGM. That means I buy at 350/=, right? Yes 300 shares at 350 ea2) How will my dividends be calculated? 100% or prorated (to almost 0% if I join just before the AGM)? depends on when you get in, ref BGL answered this above3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] 4) Am I eligible as a non Safcom individual. Yes tho you may need to be introduced by a member5) What if I want to get out (not that I am planning to)? Is there an exit procedure? share buy back etc. Yes, shares are floated every Tuesday I guess Check out their webpage sic.co.ke Thanks bro. Very helpful. Only thing remaining is my 3rd question. Cheers! I'd like to know the answer of that too...I just joined. 3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] There is no way your dividend will not be enough to be ploughed back. For example if your dividend is KSH10, then Kshs 6.5 worth of shares will be ploughed back. Remember that SIC provides shares in decimal places. So you might end up with 0.02 shares So they re - invest my 6.5 and probably your 65 and we BOTH end up with shares worth say 425/= each the following year? You are not clear Maich Gents, I have been a member of SIC for 3 yrs , let me attempt to break it down. This year SIC made 27% profit and declared div of 25% of which ratio of div ploughed back: cash payout was 65:35 . Meaning if you had shares worth 100,000 , dividend would be 25,000 of which 16,250 is re-invested (@ Kes 270/share ) and 8,750 is paid cash. You have an option to reinvest the 8,750 (@270/share) . The share price was then revised up by 25% to 350 and instantly your 'slaves 'are worth ,10,970 + 20,312 = 31,282 if you decided to reinvest . Pirate, thank you for your response. Apart from statements is there another way of viewing your account information eg an online account? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 12/25/2014 Posts: 2,301 Location: kenya
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murchr wrote:Pirate wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:murchr wrote:MaichBlack wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:Following the AGM held on 28th February 2015, the following were reviewed and adopted as resolutions:
1.The share price adjustment will be pegged on the performance of the Society in the previous year.
2. Based on #1 above the share price was adjusted to Ksh.350 from Ksh.280. This is effective from 28th Feb 2015
3. The rebates will be distributed on a 65% plough back and 35% payout ratio. Payment will start from 11th March to 31st March 2015.
4. The Board size to expand to 9 from the current 7. This is effective from 2016
5. One slot in the Board is to be assigned to members who are non-Safaricom staff
6. Eligibility to the Board to change from 2years membership to 3years membership. Other terms remain unchanged.
7. Joining fees for groups adjusted to Ksh. 30,000 from the previous Ksh. 15,000.
8. All groups are to make a minimum monthly payment of Ksh.15,000 being Ksh.3,000 per member.
9. Groups are to make contributions per member at the rate of Ksh.3,000 per member These questions are directed to all "chair" holders 1) I want to get in just before the next AGM. That means I buy at 350/=, right? Yes 300 shares at 350 ea2) How will my dividends be calculated? 100% or prorated (to almost 0% if I join just before the AGM)? depends on when you get in, ref BGL answered this above3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] 4) Am I eligible as a non Safcom individual. Yes tho you may need to be introduced by a member5) What if I want to get out (not that I am planning to)? Is there an exit procedure? share buy back etc. Yes, shares are floated every Tuesday I guess Check out their webpage sic.co.ke Thanks bro. Very helpful. Only thing remaining is my 3rd question. Cheers! I'd like to know the answer of that too...I just joined. 3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] There is no way your dividend will not be enough to be ploughed back. For example if your dividend is KSH10, then Kshs 6.5 worth of shares will be ploughed back. Remember that SIC provides shares in decimal places. So you might end up with 0.02 shares So they re - invest my 6.5 and probably your 65 and we BOTH end up with shares worth say 425/= each the following year? You are not clear Maich Gents, I have been a member of SIC for 3 yrs , let me attempt to break it down. This year SIC made 27% profit and declared div of 25% of which ratio of div ploughed back: cash payout was 65:35 . Meaning if you had shares worth 100,000 , dividend would be 25,000 of which 16,250 is re-invested (@ Kes 270/share ) and 8,750 is paid cash. You have an option to reinvest the 8,750 (@270/share) . The share price was then revised up by 25% to 350 and instantly your 'slaves 'are worth ,10,970 + 20,312 = 31,282 if you decided to reinvest . Pirate, thank you for your response. Apart from statements is there another way of viewing your account information eg an online account? @murchr what's your email address ? Wanna consult you on something. Thanks in advance
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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enyands wrote:murchr wrote:Pirate wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:murchr wrote:MaichBlack wrote:murchr wrote:MaichBlack wrote:Stract_Consulting wrote:Following the AGM held on 28th February 2015, the following were reviewed and adopted as resolutions:
1.The share price adjustment will be pegged on the performance of the Society in the previous year.
2. Based on #1 above the share price was adjusted to Ksh.350 from Ksh.280. This is effective from 28th Feb 2015
3. The rebates will be distributed on a 65% plough back and 35% payout ratio. Payment will start from 11th March to 31st March 2015.
4. The Board size to expand to 9 from the current 7. This is effective from 2016
5. One slot in the Board is to be assigned to members who are non-Safaricom staff
6. Eligibility to the Board to change from 2years membership to 3years membership. Other terms remain unchanged.
7. Joining fees for groups adjusted to Ksh. 30,000 from the previous Ksh. 15,000.
8. All groups are to make a minimum monthly payment of Ksh.15,000 being Ksh.3,000 per member.
9. Groups are to make contributions per member at the rate of Ksh.3,000 per member These questions are directed to all "chair" holders 1) I want to get in just before the next AGM. That means I buy at 350/=, right? Yes 300 shares at 350 ea2) How will my dividends be calculated? 100% or prorated (to almost 0% if I join just before the AGM)? depends on when you get in, ref BGL answered this above3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] 4) Am I eligible as a non Safcom individual. Yes tho you may need to be introduced by a member5) What if I want to get out (not that I am planning to)? Is there an exit procedure? share buy back etc. Yes, shares are floated every Tuesday I guess Check out their webpage sic.co.ke Thanks bro. Very helpful. Only thing remaining is my 3rd question. Cheers! I'd like to know the answer of that too...I just joined. 3) If the dividends are prorated, how does that affect (3) above - i.e. plough back and payout? What if my prorated dividend is not enough to plough back (65%). What then? Do you ask me for top up or I end up with "class B" shares [Highly unlikely!] There is no way your dividend will not be enough to be ploughed back. For example if your dividend is KSH10, then Kshs 6.5 worth of shares will be ploughed back. Remember that SIC provides shares in decimal places. So you might end up with 0.02 shares So they re - invest my 6.5 and probably your 65 and we BOTH end up with shares worth say 425/= each the following year? You are not clear Maich Gents, I have been a member of SIC for 3 yrs , let me attempt to break it down. This year SIC made 27% profit and declared div of 25% of which ratio of div ploughed back: cash payout was 65:35 . Meaning if you had shares worth 100,000 , dividend would be 25,000 of which 16,250 is re-invested (@ Kes 270/share ) and 8,750 is paid cash. You have an option to reinvest the 8,750 (@270/share) . The share price was then revised up by 25% to 350 and instantly your 'slaves 'are worth ,10,970 + 20,312 = 31,282 if you decided to reinvest . Pirate, thank you for your response. Apart from statements is there another way of viewing your account information eg an online account? @murchr what's your email address ? Wanna consult you on something. Thanks in advance Give me yours "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 7/22/2009 Posts: 7,838
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murchr wrote:You are not clear Maich @murchr - I thought the price is revised upwards due to the re-invested amount. @pirate has now explained how they do it which is simple and pretty much straight forward (albeit flawed - see my reasoning below). Thanks to both of you. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 7/22/2009 Posts: 7,838
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On a different note, the method they use to calculate the new price is flawed. It overvalues the share because it does not take cognizance of the money pocketed by the shareholders. Take for example last year. Share price 270/= Dividend: 25% * 270 = 67.5/= Re-invested = 65% * 67.5 = 43.875/=Paid = 35% * 67.5 = 23.625/= From my mathematics: New Price = Old price + reinvested amount = 270 + 43.875 = Ksh 313/= You cannot add the whole 67.5 to get the new price because you have already taken out 23.625/= And even if you use the whole 67.5/= (which you shouldn't) you still get 337.5/=. Go even further and use the whole 27% you still get 342.9/= Not matter how you dice and slice it, you can't get 350/= But with this approach, the current price should be Kshs. 313/= NOT 350/=On the flip side, people immediately re-investing the slaves are making double killing. I don't see why one would EVER take the money.Re-invest and sell almost immediately (if you must) and get approx. 25% more cash!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 7/22/2009 Posts: 7,838
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I am getting in all the same before the next price hike (February 2016?). I will just work the system to my advantage!!! Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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