CFC stanbic from dividend yield angle.

FY 17

I&M 3.00 Bob

CFC 5.25 Bob


FY 18
Not out but CFC also paid 2.25 interim dividend. Projected final is 5.00 Bob

I&M projected at most 4.00 Bob in total.

What are the respective issued shares of both of them

Agree. CFC needs to repatriate more earnings to S.A. whereas I&M key shareholders are here so less worried about keeping more profits in the business. The question always remains whether or not it is better to return some funds to shareholders or re-invest in the business if you, as the Manager, believe you can give a better return than any other publicly-comparable benchmark. For instance, Warren Buffet has thus always benchmarked his performance against the S&P 500. So, if I&M or Stanbic management can provide better returns than the NSE, they actually should retain the funds in the business and minimize the dividends. IMHO....

What's expected end of day today @PesaNane?

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From the perspective of a "Per Share" basis given the shares were priced almost the same on 1 Jan 2019, I&M is ahead at 125/- vs Stanbic at 100/-

I&M is more profitable than Stanbic KE on a PAT basis with a higher EPS too.
Also better positioned for regional growth with a JV in Mauritius and subsidiaries in RW and TZ.

The DPS for I&M remains lower than Stanbic KE but I&M may need more funds for expansion and recapitalization of its subsidiaries.
Like other KE banks e.g. Equity, I&M also shored up its capital in the TZ subsidiary.

You should update both using 1H numbers and expected growth.
I&M has become substantially cheaper since May 2019.