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SACCO's end year results - Dividend Rates comparison
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Chaka
#121 Posted : Thursday, January 24, 2019 10:27:11 AM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
Oh my,so the only way out is not to declare a dividend?
Angelica _ann wrote:
Chaka wrote:
What if the members decide to plough back the dividends as savings and borrow the same at 0% interest?
Sir invest wrote:
10% withholding tax on ANY Sacco dividend earned from Jan 2019.



You can only plough back net of w/holding tax - that is what you are entitled to.

Kulipa ushuru ni kujitegemea!
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Ericsson
#122 Posted : Thursday, January 24, 2019 10:50:57 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Chaka wrote:
Oh my,so the only way out is not to declare a dividend?
Angelica _ann wrote:
Chaka wrote:
What if the members decide to plough back the dividends as savings and borrow the same at 0% interest?
Sir invest wrote:
10% withholding tax on ANY Sacco dividend earned from Jan 2019.



You can only plough back net of w/holding tax - that is what you are entitled to.

Kulipa ushuru ni kujitegemea!



Dividends have to be declared,members will be up in arms if saccos fail to declare.
Sacco members most of them aren't keen on the tax,what matters is money
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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peep
#123 Posted : Friday, January 25, 2019 11:09:10 PM
Rank: Member


Joined: 3/30/2009
Posts: 56
Chaka wrote:
Oh my,so the only way out is not to declare a dividend?

Dividend declared is a tax deductible expense. If you don't declare it then your taxable income is higher. You are better of declaring a high one to reduce tax exposure.
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gatoho
#124 Posted : Saturday, January 26, 2019 1:59:17 AM
Rank: Member


Joined: 1/1/2010
Posts: 511
Location: kandara, Murang'a
As I asked elsewhere, what's so special about Sacco dividends? Why not all divs??
Foresight..
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kawi254
#125 Posted : Saturday, January 26, 2019 11:23:34 AM
Rank: Member


Joined: 2/20/2015
Posts: 467
Location: Nairobi
gatoho wrote:
As I asked elsewhere, what's so special about Sacco dividends? Why not all divs??


Foreign investors will run and Jubilee GoK only cares for those; local investors you got nowhere to run.

Sad that GoK is raiding Wanjiku's savings.
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DangerMouse
#126 Posted : Thursday, February 28, 2019 12:24:19 PM
Rank: Hello


Joined: 2/28/2019
Posts: 6
Location: Nairobi
Safaricom Sacco gave out a paltry 6% interest on member's weighted deposits and 12% on share capital for 2018. Add onto that the increased taxation on dividends. Sigh
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Ngogoyo
#127 Posted : Thursday, February 28, 2019 1:30:53 PM
Rank: Member


Joined: 6/22/2011
Posts: 561
Location: House
That's below market average of 9% and 20%. Whats going on?
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Muthawamunene
#128 Posted : Thursday, February 28, 2019 7:48:13 PM
Rank: Member


Joined: 1/3/2011
Posts: 264
Location: Nairobi
Ngogoyo wrote:
That's below market average of 9% and 20%. Whats going on?



Most likely that management feels that it's balance sheet is strong and does not need to attract more capital.

Remember that 20% of 50m is very different from 20% of 500m, i.e it makes sense to pay a smaller percentage if your capital is large, else you'll soon find yourself not retaining any earnings.

Other saccos are offering high returns in order to attract membership. They too will reach a point of diminishing returns as they mature.
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Chaka
#129 Posted : Thursday, February 28, 2019 8:02:57 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
Maybe its to retain membership..
Muthawamunene wrote:

Other saccos are offering high returns in order to attract membership. They too will reach a point of diminishing returns as they mature.
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kawi254
#130 Posted : Thursday, February 28, 2019 8:19:43 PM
Rank: Member


Joined: 2/20/2015
Posts: 467
Location: Nairobi
Ngogoyo wrote:
That's below market average of 9% and 20%. Whats going on?


=IFRS9
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drogon
#131 Posted : Monday, May 13, 2019 7:28:00 PM
Rank: New-farer


Joined: 11/28/2018
Posts: 42
Location: Nairobi
Shak wrote:
Any news from Hazina Sacco?


That's my Sacco.
Fat dividends on share capital @ 19%
Interest on depodits @ 10.6%

Plus 10% bonus if you capitalize your dividends.
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Swenani
#132 Posted : Tuesday, May 14, 2019 9:04:01 AM
Rank: User


Joined: 8/15/2013
Posts: 13,237
Location: Vacuum
drogon wrote:
Shak wrote:
Any news from Hazina Sacco?


That's my Sacco.
Fat dividends on share capital @ 19%
Interest on depodits @ 10.6%

Plus 10% bonus if you capitalize your dividends.


These saccos are nothing but legalized Pryamid schemes.

If a good sacco like kenya police was to liquidate it's assets assets, will it be possible to pay off the deposits and capital?
If Obiero did it, Who Am I?
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winmak
#133 Posted : Tuesday, May 14, 2019 1:14:38 PM
Rank: Member


Joined: 12/1/2007
Posts: 539
Location: Nakuru
Swenani wrote:
drogon wrote:
Shak wrote:
Any news from Hazina Sacco?


That's my Sacco.
Fat dividends on share capital @ 19%
Interest on depodits @ 10.6%

Plus 10% bonus if you capitalize your dividends.


These saccos are nothing but legalized Pryamid schemes.

If a good sacco like kenya police was to liquidate it's assets assets, will it be possible to pay off the deposits and capital?


The modus operandi from my close friends when dealing with saccos is to always have a loan greater than your deposit... that way in case of a crash....
For investors as a whole, returns decrease as motion increases ~ WB
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