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Centum pays out KSH 1 billion to employees
redi
#1 Posted : Tuesday, September 15, 2015 10:51:40 PM
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Joined: 1/24/2008
Posts: 46
Location: Embu
Yet they never paid divided to the investors.
Ericsson
#2 Posted : Tuesday, September 15, 2015 10:56:45 PM
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Joined: 12/4/2009
Posts: 10,778
Location: NAIROBI
Creating investor wealth returns
Shindwe kabisaa
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
enyands
#3 Posted : Tuesday, September 15, 2015 11:00:21 PM
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Joined: 12/25/2014
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Location: kenya
redi wrote:
Yet they never paid divided to the investors.



Sad Sad
Angelica _ann
#4 Posted : Tuesday, September 15, 2015 11:53:57 PM
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Joined: 12/7/2012
Posts: 11,921
CEO & Chair are closely related. My biggest problem with this counter!!!
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
streetwise
#5 Posted : Wednesday, September 16, 2015 7:43:04 AM
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Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
I think there is something not right if the employees keep on earning bonuses year on year while the investor is told of capital gain which is not that great and which can actually get washed away.

At the end the employee will have his money in the bank and the investor little to show for the patience he so much demonstrated by waiting ten or so year.

instinct
#6 Posted : Wednesday, September 16, 2015 8:15:12 AM
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Joined: 8/17/2007
Posts: 294
The eating begins...
kryptonite
#7 Posted : Wednesday, September 16, 2015 8:49:11 AM
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Joined: 2/1/2010
Posts: 272
Location: Nairobi
streetwise wrote:
I think there is something not right if the employees keep on earning bonuses year on year while the investor is told of capital gain which is not that great and which can actually get washed away.

At the end the employee will have his money in the bank and the investor little to show for the patience he so much demonstrated by waiting ten or so year.




I beg to differ. When they postponed paying out dividends, the stock was circa 12.50, so there have been significant capital gains since then. Secondly, what better vote of confidence do you need in the business than employees with 'skin' in the game? Besides, these bonuses are performance-based, not guaranteed.

The cash payout is not automatic and is subject to further conditions including maintaining or increasing the shareholders’ wealth each year.

“It focuses the staff on performance. Everyone at Centum works like they are running their own business,” said Mr Mworia.

The harder you work, the luckier you get
Kenyan Oracle
#8 Posted : Wednesday, September 16, 2015 8:52:57 AM
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Joined: 5/31/2011
Posts: 253
Angelica _ann wrote:
CEO & Chair are closely related. My biggest problem with this counter!!!


@Angelica. Didn't know this. And the way I'd set my sight on this counter
You lose money chasing women, but you never lose women chasing money - NAS
Pesa Nane
#9 Posted : Wednesday, September 16, 2015 9:01:30 AM
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Joined: 5/25/2012
Posts: 4,105
Location: 08c
How to eat shareholders' ksh. 1,000,000,000.00
Quote:
Investment firm Centum more than doubled the bonus payout to its 90 staff to Sh1 billion in the year ended March

While the average employee is entitled to about Sh11.1 million, a breakdown of the payout shows the company’s top 10 executives will on average take home a higher pay cheque of Sh34 million each.


What happened to the "dividend drought to shore up retained earnings" statements?
Was there a smelly rat in the HACO bonus payouts?

#Centumholderswewishyouwell
Pesa Nane plans to be shilingi when he grows up.
Ericsson
#10 Posted : Wednesday, September 16, 2015 9:13:53 AM
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Joined: 12/4/2009
Posts: 10,778
Location: NAIROBI
Safaricom grows at a much bigger rate than those centum ceo James Mworia is referring.
At Safaricom shareholders are also benefitting big time.
share price appreciation superb.
Glad I don't own centum shares
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
streetwise
#11 Posted : Wednesday, September 16, 2015 9:19:27 AM
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Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Well said, I will go with Saf
Ericsson
#12 Posted : Wednesday, September 16, 2015 9:29:44 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,778
Location: NAIROBI
Safaricom 2015 share price appreciation is 7.829% and they gave a dividend of 64 cents per share.
Centum down 25% and no dividend
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Metasploit
#13 Posted : Wednesday, September 16, 2015 9:46:03 AM
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Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
For once i will agree with Obiero on the list of NSE shares not to touch..

#Golden handcuffs

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
Metasploit
#14 Posted : Wednesday, September 16, 2015 9:50:19 AM
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Joined: 3/26/2012
Posts: 985
Location: Dar es salaam,Tanzania
The company, which has frozen dividend payments, says its chief emphasis is on maximising shareholder wealth.:-

It is expected that an increase in net asset value should be matched by a rising share price, boosting shareholder wealth which investors can realise by selling all or part of their shares listed on the Nairobi bourse.

“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.”
Othelo
#15 Posted : Wednesday, September 16, 2015 9:56:09 AM
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Joined: 1/20/2014
Posts: 3,528
So you have to sell your shares to reap anything.... okay!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
stock.enigma
#16 Posted : Wednesday, September 16, 2015 10:12:16 AM
Rank: Member


Joined: 8/14/2009
Posts: 244
You only earn if you sell today. KQ was sh 100 at some time. Now you know what is the price if you didn't sell then. Employees and directors earn salary and allowances, and on top, hefty bonuses. Nothing is paid to investors. I don't agree with this strategy and for that reason, am OUT.
instinct
#17 Posted : Wednesday, September 16, 2015 11:08:20 AM
Rank: Member


Joined: 8/17/2007
Posts: 294
kryptonite wrote:
streetwise wrote:
I think there is something not right if the employees keep on earning bonuses year on year while the investor is told of capital gain which is not that great and which can actually get washed away.

At the end the employee will have his money in the bank and the investor little to show for the patience he so much demonstrated by waiting ten or so year.




I beg to differ. When they postponed paying out dividends, the stock was circa 12.50, so there have been significant capital gains since then. Secondly, what better vote of confidence do you need in the business than employees with 'skin' in the game? Besides, these bonuses are performance-based, not guaranteed.

The cash payout is not automatic and is subject to further conditions including maintaining or increasing the shareholders’ wealth each year.

“It focuses the staff on performance. Everyone at Centum works like they are running their own business,” said Mr Mworia.



I hope the measure of shareholder wealth is share price..and not some "cookable" method. and btw why cant they be given shares so that we are on the same side i.e. shareholders and management. why do they get assured cash while as a shareholder i spend sleepless nights as to where the share price will be tomorrow?

and are such decisions subjected to an AGM or they decide what they get?
heri
#18 Posted : Wednesday, September 16, 2015 11:24:56 AM
Rank: Member


Joined: 9/14/2011
Posts: 857
Location: nairobi
How does one get employed there? i need a job at Centum

i work for a multinational but a bonus of kshs 1B is probably what my employer will ever pay in 30 years!
drake
#19 Posted : Wednesday, September 16, 2015 12:38:46 PM
Rank: Member


Joined: 8/8/2009
Posts: 170
@instinct

See link below for story - 'Centum CEO rises to top ten shareholders with stock purchase' 17/August/2015

http://www.businessdaily...4/-/fkv6cp/-/index.html

"...chief executive James Mworia has acquired four million shares worth Sh207.4 million in the investment company, breaking into the list of the firm’s top 10 shareholders."



There is proper alignment as the firm's leadership and the rest of the team are ACCUMULATING shares in the open market..

What skeptics should consider is the likelihood of the team executing a management-led buy-out of minorities and perhaps a de-listing of the company altogether...don't get left behind.. BUY
moneydust
#20 Posted : Wednesday, September 16, 2015 12:42:41 PM
Rank: Member


Joined: 1/31/2007
Posts: 304
streetwise wrote:
I think there is something not right if the employees keep on earning bonuses year on year while the investor is told of capital gain which is not that great and which can actually get washed away.

At the end the employee will have his money in the bank and the investor little to show for the patience he so much demonstrated by waiting ten or so year.


This is at the heart of the matter..the employees renumeration is not aligned with that of the investor.
In the end the investor will get shafted as the employee smiles all the way to the bank.
In such a case what will stop the employees from cooking the books to get their reward while the investor is none the wiser?
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