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KENGEN 2021-2025
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VituVingiSana
#91 Posted : Friday, December 02, 2022 2:51:48 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
My 2 cents wrote:
20 cents, same dividend as they paid in 2012; 10 years ago :(
The same story for most of the "Kenya" firms that are GoK controlled.

Kenya Re's dividend (after accounting for the bonus) of 10c is embarrassing.
KPLC doesn't pay dividends.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#92 Posted : Friday, December 02, 2022 2:53:33 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Ericsson wrote:
kawi254 wrote:
Ericsson wrote:
littledove wrote:
watesh wrote:
A disappointing dividend once again. Despite the 14bn in cash, shareholders will get a paltry 1.3bn. This can easily be funded with the interest income the company got from that 14bn cash they hold and the company hoards all the cash it generated from normal operations


As an investor you are salivating for that 14b, but i dont think that 14b will be there for long. I have also been trying to get a piece of kengen at 3 unsuccessfully with the idea of 10% divided yield, but it seems as the price goes down the dividend also goes down, i have just witdrawn my orders. i think im slowly maturing in these streets of investment, dividend yield is becoming a key factor in my picks, except for housing finance which is a recovery stock


That ksh.14bn is for debt repayment and operations.
Their debt repayment is about ksh.13bn this financial year


Is the low dividend a way for Kengen to avoid the heavy compensating tax penalty if they redistribute the capital allowances on commissioning of the 86.3-megawatt Olkaria I Unit 6 geothermal power plant during the year that contributed to reduced income tax expense?

In 2016 Kengen got a demand of Sh 3.3 Billion compensating tax from KRA. Link


That law was ammended and they can pay dividends from it if I remember well.
That ksh.14bn is there a portion that is debt received awaiting deployment
Wasn't that amendment specific to that year or distribution?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#93 Posted : Friday, December 02, 2022 11:34:37 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
kawi254 wrote:
Ericsson wrote:
littledove wrote:
watesh wrote:
A disappointing dividend once again. Despite the 14bn in cash, shareholders will get a paltry 1.3bn. This can easily be funded with the interest income the company got from that 14bn cash they hold and the company hoards all the cash it generated from normal operations


As an investor you are salivating for that 14b, but i dont think that 14b will be there for long. I have also been trying to get a piece of kengen at 3 unsuccessfully with the idea of 10% divided yield, but it seems as the price goes down the dividend also goes down, i have just witdrawn my orders. i think im slowly maturing in these streets of investment, dividend yield is becoming a key factor in my picks, except for housing finance which is a recovery stock


That ksh.14bn is for debt repayment and operations.
Their debt repayment is about ksh.13bn this financial year


Is the low dividend a way for Kengen to avoid the heavy compensating tax penalty if they redistribute the capital allowances on commissioning of the 86.3-megawatt Olkaria I Unit 6 geothermal power plant during the year that contributed to reduced income tax expense?

In 2016 Kengen got a demand of Sh 3.3 Billion compensating tax from KRA. Link


That law was ammended and they can pay dividends from it if I remember well.
That ksh.14bn is there a portion that is debt received awaiting deployment
Wasn't that amendment specific to that year or distribution?


That year going forward
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#94 Posted : Friday, December 02, 2022 11:39:19 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
watesh wrote:
A disappointing dividend once again. Despite the 14bn in cash, shareholders will get a paltry 1.3bn. This can easily be funded with the interest income the company got from that 14bn cash they hold and the company hoards all the cash it generated from normal operations


For 2022/2023, the company looks to kick off the redevelopment of a forty-year-old 45MW Olkaria I geothermal power plant to give it a new lease of life and boost its capacity to more than 50MW as well as the uprating of Olkaria I Additional Units 4 & 5 and Olkaria IV. This project seeks to grow the capacity of the two geothermal power stations from the current 280MW to 320MW.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#95 Posted : Saturday, December 03, 2022 7:08:13 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
My 2 cents wrote:
20 cents, same dividend as they paid in 2012; 10 years ago :(
The same story for most of the "Kenya" firms that are GoK controlled.

Kenya Re's dividend (after accounting for the bonus) of 10c is embarrassing.
KPLC doesn't pay dividends.

And the board and CEO are happy with this (both Kengen and Kenya Re).
So sad state of affairs.
The outgoing CEO now a CS is not as clean as people say and portrait been presented.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Kusadikika
#96 Posted : Tuesday, December 06, 2022 3:30:01 PM
Rank: Elder

Joined: 7/22/2008
Posts: 2,721
What is that 65 billion "other comprehensive income" on the Kengen statement? It does not seem to affect taxation or cash.
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My 2 cents
#97 Posted : Tuesday, December 06, 2022 9:07:26 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,089
Kusadikika wrote:
What is that 65 billion "other comprehensive income" on the Kengen statement? It does not seem to affect taxation or cash.


I don't trust the parastatal numbers. At all. The numbers always seem massaged.
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Ericsson
#98 Posted : Wednesday, December 07, 2022 7:59:38 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
watesh wrote:
A disappointing dividend once again. Despite the 14bn in cash, shareholders will get a paltry 1.3bn. This can easily be funded with the interest income the company got from that 14bn cash they hold and the company hoards all the cash it generated from normal operations


One week later no update on book closure and AGM date
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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kawi254
#99 Posted : Wednesday, December 07, 2022 9:01:41 PM
Rank: Member

Joined: 2/20/2015
Posts: 468
Location: Nairobi
Ericsson wrote:
watesh wrote:
A disappointing dividend once again. Despite the 14bn in cash, shareholders will get a paltry 1.3bn. This can easily be funded with the interest income the company got from that 14bn cash they hold and the company hoards all the cash it generated from normal operations


One week later no update on book closure and AGM date


It is almost like they don't have the liquid cash to pay the dividend.

How does that big South African pension fund stomach holding shares in KenGen?. Our own NSSF sold KenGen before the decline started.
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My 2 cents
#100 Posted : Wednesday, December 07, 2022 10:22:32 PM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,089
kawi254 wrote:
Ericsson wrote:
watesh wrote:
A disappointing dividend once again. Despite the 14bn in cash, shareholders will get a paltry 1.3bn. This can easily be funded with the interest income the company got from that 14bn cash they hold and the company hoards all the cash it generated from normal operations


One week later no update on book closure and AGM date


It is almost like they don't have the liquid cash to pay the dividend.

How does that big South African pension fund stomach holding shares in KenGen?. Our own NSSF sold KenGen before the decline started.


Same way the Kenyans that bought at IPO are stomaching.

Year 2006 - IPO price Kes 11.90 per share

Year 2022 - 16 years later current price 3.20 per share
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