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Potential merger NIC + CBA
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VituVingiSana
#231 Posted : Thursday, July 16, 2020 11:28:02 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,344
Location: Nairobi
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.


I missed it. Where do they say so?
There is a notice to issue 606mn NEW shares. Rights Issue?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#232 Posted : Thursday, July 16, 2020 11:42:46 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.


I missed it. Where do they say so?
There is a notice to issue 606mn NEW shares. Rights Issue?

Issue 606mn new shares over a maximum period of 5 years
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#233 Posted : Thursday, July 16, 2020 12:37:18 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,344
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.


I missed it. Where do they say so?
There is a notice to issue 606mn NEW shares. Rights Issue?

Issue 606mn new shares over a maximum period of 5 years

"In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years." Where does it say so?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#234 Posted : Thursday, July 16, 2020 12:45:35 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.


I missed it. Where do they say so?
There is a notice to issue 606mn NEW shares. Rights Issue?

Issue 606mn new shares over a maximum period of 5 years

"In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years." Where does it say so?


Lets wait and see.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#235 Posted : Thursday, July 16, 2020 12:57:53 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,344
Location: Nairobi
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.


I missed it. Where do they say so?
There is a notice to issue 606mn NEW shares. Rights Issue?

Issue 606mn new shares over a maximum period of 5 years

"In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years." Where does it say so?


Lets wait and see.
I am quoting you "In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years." and I couldn't find it unless there is a revised Notice of AGM.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#236 Posted : Thursday, July 16, 2020 1:20:58 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
VituVingiSana wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.


I missed it. Where do they say so?
There is a notice to issue 606mn NEW shares. Rights Issue?

Issue 606mn new shares over a maximum period of 5 years

"In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years." Where does it say so?


Lets wait and see.
I am quoting you "In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years." and I couldn't find it unless there is a revised Notice of AGM.


The word seems is missing.
"In their Notice of the Annual General Meeting on 5th July" it seems NCBA is going on a dividend drought for 5 years
I've rephrased it.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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  | | Edit by user: Thursday, July 16, 2020 1:31 PM | Reason: Not specified
watesh
#237 Posted : Thursday, July 16, 2020 3:14:44 PM
Rank: Veteran

Joined: 8/10/2014
Posts: 992
Location: Kenya
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.

Or they may go for a small cash dividend plus a bonus. They want to go aggressively into retail banking, they need to prop up their core capital base to keep up with the expected growth.
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Ericsson
#238 Posted : Thursday, July 16, 2020 3:53:08 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
watesh wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.

Or they may go for a small cash dividend plus a bonus. They want to go aggressively into retail banking, they need to prop up their core capital base to keep up with the expected growth.


Or reserves for the projected credit losses due to loan defaults.
They announced last week they bought land to act as a yard for storage of vehicles to be auctioned.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#239 Posted : Thursday, July 16, 2020 8:37:02 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,344
Location: Nairobi
watesh wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.

Or they may go for a small cash dividend plus a bonus. They want to go aggressively into retail banking, they need to prop up their core capital base to keep up with the expected growth.

NIC was into retail lending.
CBA was into retail lending via Safcom.

Kenya's lending scene is very competitive. Perhaps a regional acquisition?

The KE banks that have done best regionally are DTB, I&M and Equity.
These have a decent presence in the region with subsidiaries that make a meaningful contribution.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Thursday, July 16, 2020 8:39 PM | Reason: Not specified
Ericsson
#240 Posted : Thursday, July 16, 2020 9:34:17 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
watesh wrote:
Ericsson wrote:
In their Notice of the Annual General Meeting on 5th July,NCBA is going on a dividend drought for 5 years.

Or they may go for a small cash dividend plus a bonus. They want to go aggressively into retail banking, they need to prop up their core capital base to keep up with the expected growth.


NCBA has put brakes on its expansion plan of opening 15 new branches.
This comes after its announcement of shutting 14 branches.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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