The next phase of safaricom will be one active in mergers and acquisitions and regional expansion.

Safaricom should consider paying dividend twice a year. Interim in April before FY results Final dividend in Oct/Nov. For instance FY 2020 projected dividend is 1.45 (or more) bob per share. They are liquid enough to pay interim dividend of 45 cents in April 2020 and final dividend of 1.00 bob in Oct/Nov 2020. My 2 cents advise. Please suggest to them in the next AGM

Still on safaricom As a minority shareholder my advise to the board of directors is that looking ahead they should rather give script issues (bonuses) from time to time rather than special dividend. Considering that Safaricom has too many shares , they can first consider share reverse split or reconstruction like at the ratio of 3:1 that is every 3 shares become 1. This will translate to price per share of 81 Bob per share (from 27) and dividend per share will follow the same multiple. Too many shares is relative,some individual and institutional shareholders have accumulated the stock thereby reducing the volume traded.When is the last time you heard safaricom traded 100mn shares in a trading day?The share price will reach 81 with time and dividend at 2-3,no need for share reverse split or reconstruction. With this they can issue script issues based on their discretion from time to time. This is cheaper for them to recapapitalize over time and minimize share dilution. For minority shareholders it is a win-win situation as good and liquid stocks price discovery is always fast. . It also afford them to sale their bonus shares at the time they need money at different intervals rather than generic special dividends I am not against special dividends but priority should be given to bonus issue or both strategy can be combined from time to time. I believe too much shares on issue is a major constraint to SAFARICOM so share reconstruction is the best option moving forward to actualize bonus issue. The issue of too many shares has been overtaken with time.Most companies in the NSE if you noticed have increase their float of shares since 2008 Bonus issue combined with a fair dividend is the best way to reward shareholders. On the whole thank you and kudos to safaricom for being consistently consistent in performance. I remember I have bought this counter from year 2010 to 2017 at different "EXPENSIVE " prices ranging from 7bob to 23 bob. Recall the IPO price in 2008 was 4 bob. Looking forward people like us should be enjoying bonus shares rather than buying more even at higher prices as it gets more expensive every year. The highs of last year becomes the low of this year. Share price follows growth of the company