amorphous wrote:
Sorted?
From 2020 so I am not up to-date on all the happenings. I wish @amorphous had kept track.
We need to document the GOOD, the BAD and the UGLY!
Centum/ICDCIC -
now at 14/- with low dividends. No bonuses. Got hit bad by COVID.
UGLY
I&M - Tumekula bonuses [minimum 1:1 but could be total of 3:1) and sweet dividends! Currently 3.75 on current shares.
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
GOOD
KNRE - Tumekula bonuses.
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
GOOD
Unga - Disappointing. No bonuses, little/no dividends. Things are looking up based on 1H26 results but US-Iran war may cause inflation and fuel shortages. Price has moved nowhere in 6 years!
UGLY
CarGen - Tumekula bonuses [minimum 1:1 but could be more) and small, small but welcome dividends! Watu is a rough gem that will shine like DRC did for Equity.
Even a small interim which bodes well for YE though the US-Iran war may cause inflation and fuel shortages.
Increased this position using dividends.
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
(very) GOOD
CARB - Tumekula nice dividends including a special dividend. Current DPS 1.70 but potential for growth though the US-Iran war may cause inflation and fuel shortages.
GOOD
JUB - Price has increased to 400 (March 2026) vs 251 (June 2026) with modest dividends. Some special dividends. Good assets. I expect a special dividend after the sale to SanlamAllianz is completed. BTW, #2 shareholder of Kenya Re!
GOOD
EABL - Tunakula nice dividends. There was a buyout offer by Diageo. Then Diageo is selling to Asahi.
*Need help. Since June 2020, how many bonuses, if any? So 100 shares in June 2020 would be how many today?
GOOD
NCBA - Tumekula dividends over the years. There was a 1:10 bonus too along the way! Buyout from NedBank at an implied price of 115 from 27 in June 2020. Including dividends 5x!!!
(very) GOOD
Kapchorua - Tumekula very nice dividends. I think there was a bonus somewhere along the way. Price was 72 in June 2020 and I think just the dividends have paid more than that! March 2026 price was 250-ish but I think there was a bonus which makes it much better!
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
(very, very) GOOD
Williamson - Tumekula very nice dividends. I think there was a bonus somewhere. Price was 120 in June 2020 ! March 2026 price was 140-ish but I think there was a bonus which makes it much better!
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
(very) GOOD
SCBK - Tumekula very nice dividends esp a huge one in 2024. Price was 173 in June 2020 ! There was a 1:10 bonus too!
March 2026 price was 330-ish (2x) but those dividends since 2020 have really juiced up the returns! Those dividends helped some to add shares when prices were down!
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
(very) GOOD
Stanbic - Tumekula dividends. Price was 78.50 in June 2020! March 2026 price was 260! Could have even sold to the parent at 120 and bought them back cheaper!
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
(very) GOOD
DTB - Tumekula dividends. Price was 69.50 in June 2020! March 2026 price was 148!
*Need help. Since June 2020, how many bonuses? So 100 shares in June 2020 would be how many today?
BAD (vs peers)
FTG - Price in June 2020 was 1.33 and now 2.28 (March 2026). No dividends.
Very UGLY
Equity - Fair dividends. June 2020 was 34.25, March 2026 was 68. Shareholders can expect better dividends as earnings grow but expansion (Angola, Mozambique) will mean DPR will remain 30%-ish.
GOOD
TPSEA - June 2020 from 13.05 to 16.10 in March 2026. Not much in dividends. Got hurt huge by COVID just after it completed an expensive expansion process. Note that I exited TPSEA so did not ride it all the way down.
BAD
LKL - From 4.83 (June 20) to 2.94 (Mar 26). No dividends. COVID and then issues with GoK gave it a huge beating.
Very UGLY. Only one that is lower than where it was in 2020!
Not in the original list
BAT - I added some (350-450) during the 6 years. Paid 40+ per year. For FY2025, will pay 70!
Also added to some of the above positions. Reduced some positions which had run up like crazy. Also reduced some of the UGLY positions above.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett