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KenyaRe FY19 - FY23 (Both Inclusive)
Rank: Veteran Joined: 4/4/2016 Posts: 2,016 Location: Kitale
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion  Sell and pay a dividend Are there buyers at that price in this market? The rich Indians from Kisumu or government though the process may take time to conclude. Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill There are many rich Luos who can buy it. Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL.  The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback. https://www.businessdail...insurance-plaza-3299332
@vvs. There you have it; ""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details." They will not use the proceeds to payout a dividend and highly unlikely stocks. The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash. They pushed safaricom to declare an interim dividend. https://www.businessdail...rastatals-money-3296618
Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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Ebenyo wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion Sell and pay a dividend Are there buyers at that price in this market? The rich Indians from Kisumu or government though the process may take time to conclude. Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill There are many rich Luos who can buy it. Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback. https://www.businessdail...insurance-plaza-3299332
@vvs. There you have it; ""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details." They will not use the proceeds to payout a dividend and highly unlikely stocks. The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash. They pushed safaricom to declare an interim dividend. https://www.businessdail...rastatals-money-3296618
Can't rely on this since they ain't sure they will get a buyer. Safaricom is a different case since it doesn't have financial regulatory compliances Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Ericsson wrote:Ebenyo wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion Sell and pay a dividend Are there buyers at that price in this market? The rich Indians from Kisumu or government though the process may take time to conclude. Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill There are many rich Luos who can buy it. Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback. https://www.businessdail...insurance-plaza-3299332
@vvs. There you have it; ""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details." They will not use the proceeds to payout a dividend and highly unlikely stocks. The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash. They pushed safaricom to declare an interim dividend. https://www.businessdail...rastatals-money-3296618
Can't rely on this since they ain't sure they will get a buyer. Safaricom is a different case since it doesn't have financial regulatory compliances Kenya Re is over-capitalized for the size of its business. It is earning low returns on its cash (deposits, T-Bills). The sale of the property is a matter for 2021. The dividend is for FY2020. BUT the IRA can block a dividend. 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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VituVingiSana wrote:Ericsson wrote:Ebenyo wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion Sell and pay a dividend Are there buyers at that price in this market? The rich Indians from Kisumu or government though the process may take time to conclude. Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill There are many rich Luos who can buy it. Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback. https://www.businessdail...insurance-plaza-3299332
@vvs. There you have it; ""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details." They will not use the proceeds to payout a dividend and highly unlikely stocks. The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash. They pushed safaricom to declare an interim dividend. https://www.businessdail...rastatals-money-3296618
Can't rely on this since they ain't sure they will get a buyer. Safaricom is a different case since it doesn't have financial regulatory compliances Kenya Re is over-capitalized for the size of its business. It is earning low returns on its cash (deposits, T-Bills). The sale of the property is a matter for 2021. The dividend is for FY2020. BUT the IRA can block a dividend. Proceeds is for strategic reinvestment meaning. What is this strategic investment they want to pursue that they can't use the available cash? Is is acquisition of a stake in a reinsurer? Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:Ebenyo wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:Kenya Reinsurance has put a tender for sale of Reinsurance Plaza Kisumu.
Reserve price Ksh.1 billion Sell and pay a dividend Are there buyers at that price in this market? The rich Indians from Kisumu or government though the process may take time to conclude. Part of the proceeds may also be used to put up their new commercial building (twin towers) in Upper Hill There are many rich Luos who can buy it. Using the proceeds to build a new commercial building in Upper Hill, in the near future, would be STUPID and CRIMINAL. The proceeds should be invested in the stock market if the prices remain low. The best is to pay out a dividend. Next best is a share buyback. https://www.businessdail...insurance-plaza-3299332
@vvs. There you have it; ""The reason (for sale) is strategic reinvestment," Kenya Re chief executive Jadiah Mwaraniah said in response to the Business Daily queries without divulging further details." They will not use the proceeds to payout a dividend and highly unlikely stocks. The main shareholder(GOK) with 60%,is in distress of cash for referendum,budget 2021/2022 and general election 2022.They could be pushing to get this cash. They pushed safaricom to declare an interim dividend. https://www.businessdail...rastatals-money-3296618
Can't rely on this since they ain't sure they will get a buyer. Safaricom is a different case since it doesn't have financial regulatory compliances Kenya Re is over-capitalized for the size of its business. It is earning low returns on its cash (deposits, T-Bills). The sale of the property is a matter for 2021. The dividend is for FY2020. BUT the IRA can block a dividend. Properties investment is 31% of their total assets. This is above the 30% limit. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 12/24/2008 Posts: 112
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Would prefer that they paid a better dividend for 2020 rather than spending loads of money advertising 50 years in business on billboards around town as if they are manufacturers of some soap or cooking oil or some other FMCG! After all, when does the public walk into their offices to purchase re-insurance?
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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 Amekasirika yake yote Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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Ericsson wrote: Amekasirika yake yote I support @ElephantMan 100%. Pay more in dividends. Or use the "billboard advertising" to reach out and support its clients/staff/brokers. 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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