obiero wrote:VituVingiSana wrote:obiero wrote:winston wrote:After conversion of debt into equity for the banks (was it to be at 2.13/-?)...is there a lock in period for the banks or are they free to offload their stakes immediately in the stock market (at say 1/-)?
@winston the stake was considered too large in terms of liquidity and hence would be consolidated at a ratio of 4:1.. Implying 2.13 times 4.. The new price would therefore be KES 8.52
In other words, a Reverse Split which adds no real value. All it does is reduce the number of shares...
Example: 10mn shares at 2/- = KES 20mn. a 4:1 "conversion" = 2.5mn shares at 8/- = KES 20mn.
In the meantime, I received a nice dividend from KenRe [which has paid an annual dividend since 2012 unlike KQ] and during 1Q 2017 a dividend from KK and an interim dividend expected in 3Q 2017. Even @Obiero's "bank he hates" aka I&M paid a dividend. Equity did too. Ahhh! So did DTB juzi juzi!
I don't expect a dividend from Unga [2016-17 was rough] but I look forward to 2017-18 if the country remains calm post-elections.
I doubt KQ will pay a dividend for the next 2 years even after the restructuring as financiers, etc will want a "stronger" KQ that has cash on hand.
Capital gains will outstrip measly dividend.. I actually rarely go for dividend stocks. Our investment strategies are world's apart
2 years? You're so optimistic!
% years as a minimum by my estimation. Most like 7 years.
Only some one with a strategic objectives would buy this monkey! Meanwhile, I'm still wondering why CMA and NSE have never seen it fit to suspend KQ. Others have been suspended for far less "crimes".