Expect a call from the Sacco rep asking whether you prefer to capitalize your dividend or not. That info is used to calculate what will be declared. The %age declared is inversely proportional to the cash payout.

There was a compulsory 50% dividend capitalization that ran for three years which ended in december 2015. Members rejected the continuation of this capitalization during the 2016 AGM.
So for the year 2016 until otherwise agreed, capitalization is only for those willing and are supposed to advice the sacco by filling a dividend capitalization form.
As for the dividend rates, that will be communicated in their AGM on 24th march 2017

3000 to be contributed by all members should it be separate from the monthly contributions?

Thanks a bunch. What you going to do? Recapitalize or utavuna ukiendanga? I nusu need opinions now that I'm fine analysing their books

@BGL, did you attend the AGM? Any word on the share value?

They just wanted EVERY SHAREHOLDER to contribute a minimum of 3k per month.

This is a Sacco that acts like one of the Gov't offices. No one seems to know what's happening in that office. Bought a piece of land with them in 2015 and title has never been out and no one has an idea when. Lousy Customer service. Reminds me so much of the defunct Kenya Post and Telecommunication.

The marketers get to sell you the land and after that, you are on your own. What you see when buying is not what you'll finally end up with. Phone is forever busy or off. Avoid at all costs.

I've dealt with Rita, and when she's not in or on leave? Woe unto you. How would you explain title not being out 2 years down the line without a tangible reason?

Any word on when the AGM will take place?

Sources : it's going to be a tough financial report. Punching bag as usual will be 2017 Elections shenanigans.