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Safaricom and investors
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Ruchwarsteve
#1 Posted : Wednesday, July 01, 2009 12:37:00 PM
Rank: Member


Joined: 4/8/2009
Posts: 34
Safaricom spends an enormous amount of money advertising,social-investing,and keeping its employees happy. It also pays a lot of money to the government in form of taxes. It also pays all kinds of suppliers,known and unknown.

Now it says investors can go sing a song. Who will tell our corporates that investing in investors is the biggest investment that can ever be made? Michael Joseph and his team have erred. Over 800000 thousand loyal customers cum investors cannot just be treated like this. It is wrong. Very wrong!

RUCHWARSTEVE -super surfing
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chris79
#2 Posted : Wednesday, July 01, 2009 12:54:00 PM
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Joined: 7/31/2007
Posts: 341
@ steve,Its the logistics involved that is a nightmare,imagine preparing lunch for 800,000/= people.

Be the change you want to see in the world...
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Gordon Gekko
#3 Posted : Wednesday, July 01, 2009 2:48:00 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
The investor holding ordinary shares sits at the bottom of the totem pole. He gets last priority during winding up. Remember,ordinary shares are not refundable i.e. the company can't buy them back so from a hard nosed perspective,the company has NO obligation to make the ordinary shareholder happy.
It is however in their interests to keep the ordinary investor happy as they might one day require to tap them for funds (rights issue). If the company however decides to fund expansion with debt,they don't need the ordinary investor - sad,but true.
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Waria
#4 Posted : Wednesday, July 01, 2009 3:05:00 PM
Rank: Member


Joined: 10/11/2007
Posts: 213
@ GG ia gree with you but huyu MJ ako na madharau sanaa... too much. First it was that we are peculiar... and now ati we go to AGMs to eat. This is avery unfortunate stereotyping. If its true only 30000 guys are expected why cant they budget on that instead of yapping all over the media about how we like freebies TSK!

I propose that all SK and sane kenyans boycott that AGM (ati Kasarani!!) to teach these guys a lesson in PR and hospitality


Me first,U next
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chris79
#5 Posted : Wednesday, July 01, 2009 6:57:00 PM
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Joined: 7/31/2007
Posts: 341
You may expect 30,000 people but 100,000 people decide to turn up when they hear there will be free lunch. Result? Chaos!!!

Be the change you want to see in the world...
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harrydre
#6 Posted : Wednesday, July 01, 2009 7:48:00 PM
Rank: Elder


Joined: 7/10/2008
Posts: 9,131
Location: Kanjo
these punks have even decided to send the dividends via Mpesa. kwani they think everyone operates MPESA? what about those abroad? they need to give us a break. It's our money and we should demand it the way we want.

Don`t let failure go to your heart and don`t let success go to your head
i.am.back!!!!
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chris79
#7 Posted : Thursday, July 02, 2009 7:20:00 AM
Rank: Member


Joined: 7/31/2007
Posts: 341
@harry,nothing has been passed yet,all decisions have to be approved at the AGM. Nobody will force you to get your dividend via Mpesa,that was clearly pointed out by Les Bailie. No need to get mad if freebies aren't coming your way...

Be the change you want to see in the world...
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VituVingiSana
#8 Posted : Thursday, July 02, 2009 7:42:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
Good for Safaricom. I would rather get 1 cent more in dividends than pay for those 30,000 greedy shareholders looking for a free lunch.

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mukiha
#9 Posted : Thursday, July 02, 2009 8:10:00 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
The tradition of giving goodies to shareholders is based on fallacious and warped logic.

Share holders get dividends from the company,in this case 10cents per share. After buying the shares,they do absolutely nothing to help running the company. Therefore they deserve absolutely nothing in addition to the dividend!

If they don't like the idea,then they can go jump in the lake or the ocean...which ever is nearer!!

Uchumi (and you all know how that one went!!) started this bad habit by printing calendars for it's shareholders in the 1990s. Strangely,the company would not give calendars to its customers or staff.

Now imagine that,you open a shop; at the end of a successful year,you print a calendar for yourself but you don't give any to your customers!!

Also,think about this: a guy with 1,000 share is entitled to sh100 dividend. Now this same guy wants a sh350 T-shirt,a sh600 lunch,sh500 bus fair,sh200 umbrella,sh100 cap etc. Where does he think the money will come from? Michael Joseph's pocket?

Get serious!!!

And another thing; so I have a few shares in Microsoft; would I ask for a return air-ticket to USA to attend the AGM?

Aai; Yawah!!

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha
#10 Posted : Thursday, July 02, 2009 8:20:00 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
...and to those who are proposing a boycott of the AGM: MUSIENDE!!!

Two shareholders will be enough to make quorum and pass all the resolutions! These are Vodafone Kenya Ltd (40% shareholding) and The PS Treasury (35%). The remaining 799,998 of you only hold a minority 25%.

Kaeni nyumbani mngojee dividend!!!!

And don't talk badly about MJ. He is the reason you agreed to buy the shares in the first place!!! You were of the opinion that he is running the company well.

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana
#11 Posted : Thursday, July 02, 2009 8:42:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
Uchumi was smart. I am talking of the Mhindi jamaa before that thieving kirubi came on board. The calendars were pure ADVERTISING... The idea was to make sure you remembered Uchumi for your shopping.
*** Safaricom needs to provide ONLINE information. For the shareholders how about free online access to download & view the investor information?
**** No free food for 30,000 shareholders.

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwanahisa
#12 Posted : Thursday, July 02, 2009 9:14:00 AM
Rank: Elder


Joined: 6/2/2008
Posts: 1,438
Mukiha - absolutely brilliant reasoning. I might just add a lot of the shareholders who go for the AGM's expecting freebies are hardly interested in what is happening at their companies. Furthermore they get irritated when 'serious' shareholders 'waste' their time by keeping on asking questions and delaying their lunch. 'Smart' boards and Mgt ensure that they give a lot of freebies to keep such nosy shareholders from asking too many tough questions,as other shareholders start expressing their impatience. As for Scom,the market seems to be cheering their latest move. I do not usually speculate. But this time around I seem to have gotten in at just the right time. Kshs 3.05 on the prompt board for a substantial block last week. I will be cashing my cheque ny next week while the naysayers are still baying for MJ's blood.

Opportunity calls but few respond.
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Kirethi
#13 Posted : Thursday, July 02, 2009 7:10:00 PM
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Joined: 10/6/2008
Posts: 21
The ten cents dividend is surely a big joke Michael Joseph and his team need to pull up their socks

Watu wachangamuke
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mukiha
#14 Posted : Friday, July 03, 2009 4:42:00 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@kirethi;

In your opinion,how much should SCOM have paid and why?

Surely,with and EPS of 26cents,paying 10cents is very good indeed!! Don't forget that this is 40% of the profit!

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Bambam
#15 Posted : Friday, July 03, 2009 11:00:00 AM
Rank: Member


Joined: 6/30/2009
Posts: 24
@ Mukiha,

All your contributions on this matter couldn't get any more salient.

I have always wondered why many companies do this merchandise splashing during AGMs. On top of being a ploy to stem disturbing questioning,I think it also presents an opportunity for some staff or mgt to either do business with the companies or get kickbacks e.g from the printing of T-shirts,umbrella's e.t.c.

It's foolhardy to fathom a company spending Kshs 1,000 to pamper me when the total dividend check is only slightly more than that. More like bonga points or Nakumat smartcard points.


What a bam bam?
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Waria
#16 Posted : Friday, July 03, 2009 3:55:00 PM
Rank: Member


Joined: 10/11/2007
Posts: 213
@ muks VVS etc

You talk as if the 'big saving' by insulting and scrimping on shareholders will translate into more dividend for you. Shock Shock its still 10 cents

Thats why 800k shareholders need the 'freebies' to compensate for the dismal dividends and T shirt ya kufuta machozi

Surely the PR juggernaut could have found a better way to put its case across.


Me first,U next
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VituVingiSana
#17 Posted : Friday, July 03, 2009 8:44:00 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
Ultimately,the little savings from the freebies will add to my safaricom share price. Even if it is 1 cent.

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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