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Horton
#1 Posted : Thursday, August 12, 2010 7:17:35 PM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
http://af.reuters.com/ar...s/idAFJOE67B0KB20100812

In a nutshell, eps HY is about 10bob
Pretax up 21% which is not bad for a mature bank.
Delinquencies up 3.6%
Rights at 165.45 so dilution is(if u dont participate) a mere 5%
Just realized, they are catching up to BBK 750m to go.

Thoughts? Comments?
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  | | Edit by user: Thursday, August 12, 2010 7:27 PM | Reason: Not specified
the deal
#2 Posted : Thursday, August 12, 2010 7:26:28 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Growth momentum is slowing down...Q1 43% PAT implied...
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Horton
#3 Posted : Thursday, August 12, 2010 7:29:17 PM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
the deal wrote:
Growth momentum is slowing down...Q1 43% PAT implied...


True dat...I wonder if the acquisition had a part to play...d'oh!
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cnn
#4 Posted : Thursday, August 12, 2010 7:34:35 PM
Rank: Veteran

Joined: 6/17/2009
Posts: 1,627
If you are the fellow i sold to @270 and 300,no hard feelings.I could buy back @240.
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Horton
#5 Posted : Thursday, August 12, 2010 7:53:32 PM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
cnn wrote:
If you are the fellow i sold to @270 and 300,no hard feelings.I could buy back @240.



LOL naah got out 60% at 300-305. Cost is 208
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  | | Edit by user: Thursday, August 12, 2010 7:54 PM | Reason: Not specified
Gordon Gekko
#6 Posted : Friday, August 13, 2010 10:13:14 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Have I missed it or these guys haven't proposed an interim dividend?Sad They have traditionally paid three dividends in a year.
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My 2 cents
#7 Posted : Friday, August 13, 2010 10:17:40 AM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,090
Gordon Gekko wrote:
Have I missed it or these guys haven't proposed an interim dividend?Sad They have traditionally paid three dividends in a year.

I also noticed this. Yap, no dividends declared. Maybe they have decided to reduce the dividends incidences from 3 to 2. Or maybe they have decided to retain earnings for the BBK custodial business purchase. Anyone knows why no dividends?
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VituVingiSana
#8 Posted : Friday, August 13, 2010 10:22:28 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Why pay a dividend when you are going to shareholders to raise cash? It's better/cheaper to NOT pay a dividend than raise cash thru a Rights Issue...

Rights Issue includes additional costs for lawyers, brokers, CMA, NSE, etc...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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My 2 cents
#9 Posted : Friday, August 13, 2010 10:29:15 AM
Rank: Veteran

Joined: 6/2/2010
Posts: 1,090
VituVingiSana wrote:
Why pay a dividend when you are going to shareholders to raise cash? It's better/cheaper to NOT pay a dividend than raise cash thru a Rights Issue...

Rights Issue includes additional costs for lawyers, brokers, CMA, NSE, etc...

Yet the rights issue is on, so why not just pay the dividends?
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Horton
#10 Posted : Friday, August 13, 2010 10:36:38 AM
Rank: Veteran

Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
My 2 cents wrote:
VituVingiSana wrote:
Why pay a dividend when you are going to shareholders to raise cash? It's better/cheaper to NOT pay a dividend than raise cash thru a Rights Issue...

Rights Issue includes additional costs for lawyers, brokers, CMA, NSE, etc...

Yet the rights issue is on, so why not just pay the dividends?



additional capital requirements!
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