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KENGEN 2021-2025
Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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Just a quick explanation on why a profitable company can lack cash. Imagine you buy a Kisaju plot for 500k and then sell it for 1M to a customer that buys it on credit i.e. he will pay you in 6 months time. You have made a lot of profit (100%) but in the interim do not have cash.
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Deferred Taxation. Wait for the Annual Report. It will explain it. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 8/10/2014 Posts: 992 Location: Kenya
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Ericsson wrote:Kengen FY2020/2021 Results
Revenue increased by 4.06% from ksh.44.11bn in 2020 to 45.901bn in 2021.
Ongoing geothermal drilling services in Tulu Moye in Ethiopia contributed ksh.1.784bn compared to 440mn in 2020
Profit before tax grew by 7% to ksh.14.76bn from 13.79bn in 2020.
Dividend payout ksh.0.3 per share. The largest shareholder in the company benefited the most. Took a large chunk in taxes and kept the dividend small, even smaller than what was paid out in 2017 despite the rise in revenue and profits over the years.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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Dividend for the year ended; (Divided by 3 pre-2016 to adjust for 2 for 1 rights issue in 2016)
2008 - 0.30
2009 - 0.17
2010 - 0.17
2011 - 0.17
2012 - 0.20
2013 - 0.20
2014 - 0.13
2015 - 0.22
2016 - NIL
2017 - NIL
2018 - 0.40
2019 - 0.25
2020 - 0.30
2021 - 0.30
See 2008. Same as 2021. After 13 years - no growth :(
Our companies (other than the banks) have no consistent dividend policy.
The board licks their finger and points it to the sky to determine the annual dividend :)
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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My 2 cents wrote:Dividend for the year ended; (Divided by 3 pre-2016 to adjust for 2 for 1 rights issue in 2016)
2008 - 0.30
2009 - 0.17
2010 - 0.17
2011 - 0.17
2012 - 0.20
2013 - 0.20
2014 - 0.13
2015 - 0.22
2016 - NIL
2017 - NIL
2018 - 0.40
2019 - 0.25
2020 - 0.30
2021 - 0.30
See 2008. Same as 2021. After 13 years - no growth :(
Our companies (other than the banks) have no consistent dividend policy.
The board licks their finger and points it to the sky to determine the annual dividend :)
I think you are being kind when you say they stick their finger in the sky... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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VituVingiSana wrote:My 2 cents wrote:Dividend for the year ended; (Divided by 3 pre-2016 to adjust for 2 for 1 rights issue in 2016)
2008 - 0.30
2009 - 0.17
2010 - 0.17
2011 - 0.17
2012 - 0.20
2013 - 0.20
2014 - 0.13
2015 - 0.22
2016 - NIL
2017 - NIL
2018 - 0.40
2019 - 0.25
2020 - 0.30
2021 - 0.30
See 2008. Same as 2021. After 13 years - no growth :(
Our companies (other than the banks) have no consistent dividend policy.
The board licks their finger and points it to the sky to determine the annual dividend :)
I think you are being kind when you say they stick their finger in the sky... I said point not stick ;) world of a difference
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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My 2 cents wrote:VituVingiSana wrote:My 2 cents wrote:Dividend for the year ended; (Divided by 3 pre-2016 to adjust for 2 for 1 rights issue in 2016)
2008 - 0.30
2009 - 0.17
2010 - 0.17
2011 - 0.17
2012 - 0.20
2013 - 0.20
2014 - 0.13
2015 - 0.22
2016 - NIL
2017 - NIL
2018 - 0.40
2019 - 0.25
2020 - 0.30
2021 - 0.30
See 2008. Same as 2021. After 13 years - no growth :(
Our companies (other than the banks) have no consistent dividend policy.
The board licks their finger and points it to the sky to determine the annual dividend :)
I think you are being kind when you say they stick their finger in the sky... I said point not stick ;) world of a difference How do they get it wet? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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My 2 cents wrote:Dividend for the year ended; (Divided by 3 pre-2016 to adjust for 2 for 1 rights issue in 2016)
2008 - 0.30
2009 - 0.17
2010 - 0.17
2011 - 0.17
2012 - 0.20
2013 - 0.20
2014 - 0.13
2015 - 0.22
2016 - NIL
2017 - NIL
2018 - 0.40
2019 - 0.25
2020 - 0.30
2021 - 0.30
See 2008. Same as 2021. After 13 years - no growth :(
Our companies (other than the banks) have no consistent dividend policy.
The board licks their finger and points it to the sky to determine the annual dividend :)
BAT Safaricom Jubilee Holdings Who have had had consistent dividend policy are not banks. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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Ericsson wrote:My 2 cents wrote:Dividend for the year ended; (Divided by 3 pre-2016 to adjust for 2 for 1 rights issue in 2016)
2008 - 0.30
2009 - 0.17
2010 - 0.17
2011 - 0.17
2012 - 0.20
2013 - 0.20
2014 - 0.13
2015 - 0.22
2016 - NIL
2017 - NIL
2018 - 0.40
2019 - 0.25
2020 - 0.30
2021 - 0.30
See 2008. Same as 2021. After 13 years - no growth :(
Our companies (other than the banks) have no consistent dividend policy.
The board licks their finger and points it to the sky to determine the annual dividend :)
BAT Safaricom Jubilee Holdings Who have had had consistent dividend policy are not banks. Yes, those too. Safaricom is a quasi-bank.
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Rank: Veteran Joined: 6/2/2010 Posts: 1,089
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VituVingiSana wrote:My 2 cents wrote:VituVingiSana wrote:My 2 cents wrote:Dividend for the year ended; (Divided by 3 pre-2016 to adjust for 2 for 1 rights issue in 2016)
2008 - 0.30
2009 - 0.17
2010 - 0.17
2011 - 0.17
2012 - 0.20
2013 - 0.20
2014 - 0.13
2015 - 0.22
2016 - NIL
2017 - NIL
2018 - 0.40
2019 - 0.25
2020 - 0.30
2021 - 0.30
See 2008. Same as 2021. After 13 years - no growth :(
Our companies (other than the banks) have no consistent dividend policy.
The board licks their finger and points it to the sky to determine the annual dividend :)
I think you are being kind when you say they stick their finger in the sky... I said point not stick ;) world of a difference How do they get it wet? Long story short, dividends for some of our companies are not planned for the long term. They board dont seem to follow any dividend policy. And our companies do not take pride in a long chain of unbroken and consistently rising dividends. (So called dividend kings in other markets). Many of our boards view dividends as expendable. Management would rather keep the cash and 'play' with it.
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