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Monk		#171 Posted : Saturday, September 02, 2023 11:39:45 AM
Rank: Member Joined: 7/1/2009 Posts: 272		VituVingiSana wrote: deadpoet wrote: Read somewhere that the book value of this share is 600+. The market will likely never reflect this price with the 'spit in the face of shareholders' dividends. KES 140m dividends with profits of 2 billi? c'mon, man! Same story with DTB. It's not the low DPS that bothers me as much as the awful RoE. The best dividend payers are foreigners eg SCBK, BAT and even EABL. CARB is an exception on the local front. Re: dividend payers, I concur on the first two. EABL? I bailed after 6 years of consistently getting <4 DY.
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Elephant Man		#172 Posted : Saturday, September 02, 2023 1:37:32 PM
Rank: Member Joined: 12/24/2008 Posts: 112		@ Maich Black - Stanchart traded around Kshs. 190/- in 2018...but as VVS says, there are others whose current share prices defy logic given their DY's...
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VituVingiSana		#173 Posted : Monday, September 04, 2023 10:21:06 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi		Monk wrote: VituVingiSana wrote: deadpoet wrote: Read somewhere that the book value of this share is 600+. The market will likely never reflect this price with the 'spit in the face of shareholders' dividends. KES 140m dividends with profits of 2 billi? c'mon, man! Same story with DTB. It's not the low DPS that bothers me as much as the awful RoE. The best dividend payers are foreigners eg SCBK, BAT and even EABL. CARB is an exception on the local front. Re: dividend payers, I concur on the first two. EABL? I bailed after 6 years of consistently getting <4 DY. I was referring to the Dividend Payout Ratio and not the absolute dividend or DY. The dividend will vary based on earnings, cashflows and future needs. EABL has a high DPR during the recent. SCBK - 65%+ (of late it has been 80%) BAT - 80%+ (even 100% is not unknown) CARB - 80% (past 2 years has been almost 100%) DTB and Jubilee are less than 25% DPR from a low RoE! Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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VituVingiSana		#174 Posted : Monday, September 04, 2023 10:25:33 AM
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi		My 2 cents wrote: VituVingiSana wrote: deadpoet wrote: Read somewhere that the book value of this share is 600+. The market will likely never reflect this price with the 'spit in the face of shareholders' dividends. KES 140m dividends with profits of 2 billi? c'mon, man! Same story with DTB. It's not the low DPS that bothers me as much as the awful RoE. The best dividend payers are foreigners eg SCBK, BAT and even EABL. CARB is an exception on the local front. The Aga Khan companies; methinks they are run more as social enterprises rather than pure profit plays. They are NOT run to maximise shareholder wealth but are ran more for other social criteria. DTB is perhaps a savings aggregator - to provide as high interest as possible for customers whilst providing capital to other business owned by Aga Khan and a certain sub-section of Kenyans. If you want to benefit from DTBK, be a customer or a borrower. Not a shareholder. That said, I am a shareholder because I hold out hope that someday they will balance all interests including minority shareholders. That said, I am a shareholder because I hold out hope that someday they will balance all interests including minority shareholders. Me too! Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Monk		#175 Posted : Monday, September 04, 2023 1:22:32 PM
Rank: Member Joined: 7/1/2009 Posts: 272		VituVingiSana wrote: Monk wrote: VituVingiSana wrote: deadpoet wrote: Read somewhere that the book value of this share is 600+. The market will likely never reflect this price with the 'spit in the face of shareholders' dividends. KES 140m dividends with profits of 2 billi? c'mon, man! Same story with DTB. It's not the low DPS that bothers me as much as the awful RoE. The best dividend payers are foreigners eg SCBK, BAT and even EABL. CARB is an exception on the local front. Re: dividend payers, I concur on the first two. EABL? I bailed after 6 years of consistently getting <4 DY. I was referring to the Dividend Payout Ratio and not the absolute dividend or DY. The dividend will vary based on earnings, cashflows and future needs. EABL has a high DPR during the recent. SCBK - 65%+ (of late it has been 80%) BAT - 80%+ (even 100% is not unknown) CARB - 80% (past 2 years has been almost 100%) DTB and Jubilee are less than 25% DPR from a low RoE! Understood. WTK too seems to fall in that category.
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VituVingiSana		#176 Posted : Monday, September 04, 2023 6:55:18 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi		Monk wrote: VituVingiSana wrote: Monk wrote: VituVingiSana wrote: deadpoet wrote: Read somewhere that the book value of this share is 600+. The market will likely never reflect this price with the 'spit in the face of shareholders' dividends. KES 140m dividends with profits of 2 billi? c'mon, man! Same story with DTB. It's not the low DPS that bothers me as much as the awful RoE. The best dividend payers are foreigners eg SCBK, BAT and even EABL. CARB is an exception on the local front. Re: dividend payers, I concur on the first two. EABL? I bailed after 6 years of consistently getting <4 DY. I was referring to the Dividend Payout Ratio and not the absolute dividend or DY. The dividend will vary based on earnings, cashflows and future needs. EABL has a high DPR during the recent. SCBK - 65%+ (of late it has been 80%) BAT - 80%+ (even 100% is not unknown) CARB - 80% (past 2 years has been almost 100%) DTB and Jubilee are less than 25% DPR from a low RoE! Understood. WTK too seems to fall in that category. WTK and KAPC, until FY23, took the policy of paying an absolute dividend vs a DPR. It was 20 for WTK and 10 for KAPC but the weak KES/$ or the Magors wanted more has given shareholders a higher DPS. All good for minorities! Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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