KQ started like this. Promise after promise.....

Financial types, please explain below:

"Compensating tax of Kshs.2,431 million is a provision that arose from payment of dividends of Kshs.5,735 million paid to the government during the year in accordance with section 7A(5) of the Income Tax Act Cap 470."

Did the GOK get paid 5.735 Billion? Can't be because total dividends last year wasn't even half of that amount. The Govt already gets 30% corporate tax, why another 43%? Any other NSE company paying compensation tax?

Kengen initially wanted to raise kshs 28.8 bilion to finance:
1.140MW olkaria V
2.80MW meru wind phase 1
3.10MW ngong wind phase 2
Rights issue raised kshs 6.3 billion only.
Instead of gava giving 20.2 bilion in cash,it opted to convert its debts to kengen into equity.This brought a deficit of kshs 22.5 billion.With the results released,they now have 6.4 bilion more.In total they now have kshs 12.7 billion.They still have a deficit of kshs 16.1 billion.
My questions to the MD:
1.How does the board intend to fill the deficit without subjecting shareholders to prolonged dividend drought?
2.Whats the use of kshs 136 billion in retained earnings and reserves?

Im also wondering.Condensed statement of financial position of the company as at 30th june 2016,in the results released on wednesday,indicates the company has retained earnings and reserves of kshs 136,077,000,000.
Net assets of kshs 367,249,000,000.
If its true these retained earnings does not exist,then shareholders will stay without dividends for the next three years.

Reserves are not necessarily in cash.
For cash see the cashflow statement.

Kengen revalued properties just before the rights hence the high reserves.

I did raise eyebrows when they revalued the power plants UPWARDS and reported gains.