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7 Pages«<567
2021 Dividend Draught Projections
young
#121 Posted : Wednesday, November 23, 2022 12:28:27 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,033
Location: Lagos, Nigeria
My 2 cents wrote:
Ericsson wrote:
Ericsson wrote:
young wrote:
Updated Banking Sector Fy22 Dividend Projection.



COOP.....1.35
KCB......1 & 2.5
SCBK.....10 & 12
SBIC.....1.8 & 8.2
NCBA..,...2.0 & 2.5
ABSA .....0.20 & 1.00


In agreement,
KCB I raise the projection to 2.75 or 3 as final dividend.


Stanchart interim dividend ksh.6


Where do we find the results?


SOURCE:- AIB SECURITIES NBO, KENYA

*Standard Chartered Q3’22 Results*
Net earnings increased 37.11% y/y to KES 8.71Bn

Total Interest Income: +4.11% y/y to KES 18.23Bn

-Interest Income from Govt securities: +9.46% y/y to KES 7.56Bn

-Interest Income from loans: -4.10% y/y to KES 9.14Bn

Total Interest Expense: -12.61% y/y to KES 2.44Bn

Net Interest Income: +7.29% y/y to KES 15.78Bn

Total Non- Interest Income: +16.11% y/y to KES 8.78Bn

Foreign trading income: +65.96% y/y to KES 4.20Bn

Total operating income: +10.28% y/y to KES 24.56Bn

Loan Loss Provision: -76.84% y/y to KES 0.62Bn

Total Operating expenses: -8.29% y/y to KES 12.27Bn

PBT: +38.20% y/y to KES 12.29Bn

PAT: +37.11% y/y to KES 8.71Bn

Gross NPL: +4.42% y/y (5.65% q/q) to KES 24.03Bn

Loans and Advances: +3.28% y/y to KES 136.07Bn

Customer Deposits: +10.72% y/y to KES 286.07Bn

FV change as a % total of government securities: -1.05% Q3’22 vs -0.03% Q3’21

EPS: +37.11% y/y to KES 22.61 from KES 16.49

DPS: Interim dividend of KES 6.00

*Our View*

Stanchart’s bottom line growth was driven by an increase in non-interest income and net interest income. Additionally, there was a significant increase in foreign trading income which translated into increased revenue. Notably NPL’s increased mainly driven by the prevailing declining macro factors and the difficult operating environment. We are also concerned with the declining loan book compared to peers who have recorded double digit growths.

Furthermore, the ROA stands at 3.27%, ROE at 21.01% and the div yield at 4.46%. Stanchart is currently trading at a P/E multiple of 6.05x against an industry median of 3.6x and a P/TB multiple of 1.03x.

We expect the lender to report stronger FY’22 given the increased non-interest income and the significant growth in foreign trading income. The interim dividend is likely to cause an excitement among investors leading to an upside above KES 145 levels.

The counter closed yesterday at KES 139.50 which was a 0.36% upside from the previous trading session.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
My 2 cents
#122 Posted : Wednesday, November 23, 2022 1:14:38 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 927
young wrote:
My 2 cents wrote:
Ericsson wrote:
Ericsson wrote:
young wrote:
Updated Banking Sector Fy22 Dividend Projection.



COOP.....1.35
KCB......1 & 2.5
SCBK.....10 & 12
SBIC.....1.8 & 8.2
NCBA..,...2.0 & 2.5
ABSA .....0.20 & 1.00


In agreement,
KCB I raise the projection to 2.75 or 3 as final dividend.


Stanchart interim dividend ksh.6


Where do we find the results?


SOURCE:- AIB SECURITIES NBO, KENYA

*Standard Chartered Q3’22 Results*
Net earnings increased 37.11% y/y to KES 8.71Bn

Total Interest Income: +4.11% y/y to KES 18.23Bn

-Interest Income from Govt securities: +9.46% y/y to KES 7.56Bn

-Interest Income from loans: -4.10% y/y to KES 9.14Bn

Total Interest Expense: -12.61% y/y to KES 2.44Bn

Net Interest Income: +7.29% y/y to KES 15.78Bn

Total Non- Interest Income: +16.11% y/y to KES 8.78Bn

Foreign trading income: +65.96% y/y to KES 4.20Bn

Total operating income: +10.28% y/y to KES 24.56Bn

Loan Loss Provision: -76.84% y/y to KES 0.62Bn

Total Operating expenses: -8.29% y/y to KES 12.27Bn

PBT: +38.20% y/y to KES 12.29Bn

PAT: +37.11% y/y to KES 8.71Bn

Gross NPL: +4.42% y/y (5.65% q/q) to KES 24.03Bn

Loans and Advances: +3.28% y/y to KES 136.07Bn

Customer Deposits: +10.72% y/y to KES 286.07Bn

FV change as a % total of government securities: -1.05% Q3’22 vs -0.03% Q3’21

EPS: +37.11% y/y to KES 22.61 from KES 16.49

DPS: Interim dividend of KES 6.00

*Our View*

Stanchart’s bottom line growth was driven by an increase in non-interest income and net interest income. Additionally, there was a significant increase in foreign trading income which translated into increased revenue. Notably NPL’s increased mainly driven by the prevailing declining macro factors and the difficult operating environment. We are also concerned with the declining loan book compared to peers who have recorded double digit growths.

Furthermore, the ROA stands at 3.27%, ROE at 21.01% and the div yield at 4.46%. Stanchart is currently trading at a P/E multiple of 6.05x against an industry median of 3.6x and a P/TB multiple of 1.03x.

We expect the lender to report stronger FY’22 given the increased non-interest income and the significant growth in foreign trading income. The interim dividend is likely to cause an excitement among investors leading to an upside above KES 145 levels.

The counter closed yesterday at KES 139.50 which was a 0.36% upside from the previous trading session.


Payment 29th Dec 2022.
Now we wait to see if Stanbic will also follow suit with declaring an interim.
Queen
#123 Posted : Friday, November 25, 2022 10:16:57 AM
Rank: Member


Joined: 11/21/2018
Posts: 502
Location: Britain
young wrote:
My 2 cents wrote:
Ericsson wrote:
Ericsson wrote:
young wrote:
Updated Banking Sector Fy22 Dividend Projection.



COOP.....1.35
KCB......1 & 2.5
SCBK.....10 & 12
SBIC.....1.8 & 8.2
NCBA..,...2.0 & 2.5
ABSA .....0.20 & 1.00


In agreement,
KCB I raise the projection to 2.75 or 3 as final dividend.


Stanchart interim dividend ksh.6


Where do we find the results?


SOURCE:- AIB SECURITIES NBO, KENYA

*Standard Chartered Q3’22 Results*
Net earnings increased 37.11% y/y to KES 8.71Bn

Total Interest Income: +4.11% y/y to KES 18.23Bn

-Interest Income from Govt securities: +9.46% y/y to KES 7.56Bn

-Interest Income from loans: -4.10% y/y to KES 9.14Bn

Total Interest Expense: -12.61% y/y to KES 2.44Bn

Net Interest Income: +7.29% y/y to KES 15.78Bn

Total Non- Interest Income: +16.11% y/y to KES 8.78Bn

Foreign trading income: +65.96% y/y to KES 4.20Bn

Total operating income: +10.28% y/y to KES 24.56Bn

Loan Loss Provision: -76.84% y/y to KES 0.62Bn

Total Operating expenses: -8.29% y/y to KES 12.27Bn

PBT: +38.20% y/y to KES 12.29Bn

PAT: +37.11% y/y to KES 8.71Bn

Gross NPL: +4.42% y/y (5.65% q/q) to KES 24.03Bn

Loans and Advances: +3.28% y/y to KES 136.07Bn

Customer Deposits: +10.72% y/y to KES 286.07Bn

FV change as a % total of government securities: -1.05% Q3’22 vs -0.03% Q3’21

EPS: +37.11% y/y to KES 22.61 from KES 16.49

DPS: Interim dividend of KES 6.00

*Our View*

Stanchart’s bottom line growth was driven by an increase in non-interest income and net interest income. Additionally, there was a significant increase in foreign trading income which translated into increased revenue. Notably NPL’s increased mainly driven by the prevailing declining macro factors and the difficult operating environment. We are also concerned with the declining loan book compared to peers who have recorded double digit growths.

Furthermore, the ROA stands at 3.27%, ROE at 21.01% and the div yield at 4.46%. Stanchart is currently trading at a P/E multiple of 6.05x against an industry median of 3.6x and a P/TB multiple of 1.03x.

We expect the lender to report stronger FY’22 given the increased non-interest income and the significant growth in foreign trading income. The interim dividend is likely to cause an excitement among investors leading to an upside above KES 145 levels.

The counter closed yesterday at KES 139.50 which was a 0.36% upside from the previous trading session.


The stated dividend yield of 4.46% is very misleading. It is erroneous to determine a dividend yield using an interim dividend.
young
#124 Posted : Friday, November 25, 2022 10:27:35 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,033
Location: Lagos, Nigeria
My 2 cents wrote:
young wrote:
My 2 cents wrote:
Ericsson wrote:
Ericsson wrote:
young wrote:
Updated Banking Sector Fy22 Dividend Projection.



COOP.....1.35
KCB......1 & 2.5
SCBK.....10 & 12
SBIC.....1.8 & 8.2
NCBA..,...2.0 & 2.5
ABSA .....0.20 & 1.00


In agreement,
KCB I raise the projection to 2.75 or 3 as final dividend.


Stanchart interim dividend ksh.6


Where do we find the results?


SOURCE:- AIB SECURITIES NBO, KENYA

*Standard Chartered Q3’22 Results*
Net earnings increased 37.11% y/y to KES 8.71Bn

Total Interest Income: +4.11% y/y to KES 18.23Bn

-Interest Income from Govt securities: +9.46% y/y to KES 7.56Bn

-Interest Income from loans: -4.10% y/y to KES 9.14Bn

Total Interest Expense: -12.61% y/y to KES 2.44Bn

Net Interest Income: +7.29% y/y to KES 15.78Bn

Total Non- Interest Income: +16.11% y/y to KES 8.78Bn

Foreign trading income: +65.96% y/y to KES 4.20Bn

Total operating income: +10.28% y/y to KES 24.56Bn

Loan Loss Provision: -76.84% y/y to KES 0.62Bn

Total Operating expenses: -8.29% y/y to KES 12.27Bn

PBT: +38.20% y/y to KES 12.29Bn

PAT: +37.11% y/y to KES 8.71Bn

Gross NPL: +4.42% y/y (5.65% q/q) to KES 24.03Bn

Loans and Advances: +3.28% y/y to KES 136.07Bn

Customer Deposits: +10.72% y/y to KES 286.07Bn

FV change as a % total of government securities: -1.05% Q3’22 vs -0.03% Q3’21

EPS: +37.11% y/y to KES 22.61 from KES 16.49

DPS: Interim dividend of KES 6.00

*Our View*

Stanchart’s bottom line growth was driven by an increase in non-interest income and net interest income. Additionally, there was a significant increase in foreign trading income which translated into increased revenue. Notably NPL’s increased mainly driven by the prevailing declining macro factors and the difficult operating environment. We are also concerned with the declining loan book compared to peers who have recorded double digit growths.

Furthermore, the ROA stands at 3.27%, ROE at 21.01% and the div yield at 4.46%. Stanchart is currently trading at a P/E multiple of 6.05x against an industry median of 3.6x and a P/TB multiple of 1.03x.

We expect the lender to report stronger FY’22 given the increased non-interest income and the significant growth in foreign trading income. The interim dividend is likely to cause an excitement among investors leading to an upside above KES 145 levels.

The counter closed yesterday at KES 139.50 which was a 0.36% upside from the previous trading session.


Payment 29th Dec 2022.
Now we wait to see if Stanbic will also follow suit with declaring an interim.


No interim dividend from Stanbic
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
young
#125 Posted : Sunday, November 27, 2022 12:29:29 AM
Rank: Elder


Joined: 6/20/2007
Posts: 2,033
Location: Lagos, Nigeria
*Stanbic Q3’22 Results*
Net earnings increased 36.79% y/y to KES 6.99Bn

Total Interest Income: +19.18% y/y to KES 17.63Bn

-Interest Income from Govt securities: -1.88% y/y to KES 3.53Bn

-Interest Income from loans: 23.83% y/y to KES 13.44Bn

Total Interest Expense: 3.08% y/y to KES 4.91Bn

Net Interest Income: +26.83% y/y to KES 12.72Bn

Total Non- Interest Income: +37.54% y/y to KES 10.25Bn

Foreign trading income: +69.34% y/y to KES 6.90Bn

Total operating income: +31.40% y/y to KES 22.97Bn

Loan Loss Provision: 88.70% y/y to KES 2.86Bn

Total Operating expenses: 27.16% y/y to KES 13.29Bn

PBT: +37.69% y/y to KES 9.68Bn

PAT: +36.79% y/y to KES 6.99Bn

Gross NPL: +18.05% y/y (6.37% q/q) to KES 25.62Bn

Loans and Advances: +34.15% y/y to KES 236.94Bn

Customer Deposits: +25.58% y/y to KES 267.30Bn

FV change as a % total of government securities: -0.15% Q3’22 vs 0.40% Q3’21

EPS: 36.80% y/y to KES 41.00 from KES 29.97

DPS: No Interim dividend

*Our View*

Stanbic’s bottom line growth was driven by an increase in non-interest income and net interest income. Additionally, there was a significant increase in foreign trading income which translated into increased revenue. Notably NPL’s increased mainly driven by the prevailing declining macro factors and the difficult operating environment, the bank also recorded a significant loan book growth in the double digits, a performance in tandem with its peers.

Furthermore, the ROA stands at 1.88% and ROE at 13.89%. Stanchart is currently trading at a P/E multiple of 2.31x against an industry median of 3.6x and a P/TB multiple of 0.76x.

We expect the lender to report stronger FY’22 given the increased non-interest income and the significant growth in foreign trading income. The lack of an interim dividend is likely to provide minimal upside potential until the release of FY’22.

The counter closed today at KES 95.00 which was a 0.52% downside from the previous trading session.
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
Ericsson
#126 Posted : Thursday, December 01, 2022 7:12:55 AM
Rank: Elder


Joined: 12/4/2009
Posts: 10,528
Location: NAIROBI
Ericsson wrote:
young wrote:
Updated Banking Sector Fy22 Dividend Projection.



COOP.....1.35
KCB......1 & 2.5
SCBK.....10 & 12
SBIC.....1.8 & 8.2
NCBA..,...2.0 & 2.5
ABSA .....0.20 & 1.00


In agreement,
KCB I raise the projection to 2.75 or 3 as final dividend.

ABSA final dividend projection of ksh.1.10-1.2
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
heri
#127 Posted : Thursday, December 01, 2022 7:20:39 AM
Rank: Member


Joined: 9/14/2011
Posts: 809
Location: nairobi
Ericsson wrote:
Ericsson wrote:
young wrote:
Updated Banking Sector Fy22 Dividend Projection.



COOP.....1.35
KCB......1 & 2.5
SCBK.....10 & 12
SBIC.....1.8 & 8.2
NCBA..,...2.0 & 2.5
ABSA .....0.20 & 1.00


In agreement,
KCB I raise the projection to 2.75 or 3 as final dividend.

ABSA final dividend projection of ksh.1.10-1.2
what are your projections for Equity?
My 2 cents
#128 Posted : Thursday, December 01, 2022 3:17:56 PM
Rank: Veteran


Joined: 6/2/2010
Posts: 927
One of the things the CMA/NSE can do to revive interest in the stock market is to encourage companies to adopt more predictable and favourable dividend policies. Seems to me the boards of companies do not take dividends as seriously as they would in other markets. There is no predictability, they easily scrap dividends, cut them, move payment dates, fail to mention key dividend dates etc. Our boards need to be more shareholder friendly.
Ericsson
#129 Posted : Thursday, December 01, 2022 5:55:43 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,528
Location: NAIROBI
heri wrote:
Ericsson wrote:
Ericsson wrote:
young wrote:
Updated Banking Sector Fy22 Dividend Projection.



COOP.....1.35
KCB......1 & 2.5
SCBK.....10 & 12
SBIC.....1.8 & 8.2
NCBA..,...2.0 & 2.5
ABSA .....0.20 & 1.00


In agreement,
KCB I raise the projection to 2.75 or 3 as final dividend.

ABSA final dividend projection of ksh.1.10-1.2
what are your projections for Equity?


Ksh.3-3.25
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
cnn
#130 Posted : Thursday, December 29, 2022 11:46:53 AM
Rank: Veteran


Joined: 6/17/2009
Posts: 1,594
littledove wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/ncba-crafts-new-generous-dividend-payment-policy-3930456
NCBA Group plans to pay up to 50 percent of net earnings as dividends going forward, indicating increased returns to shareholders for a bank that previously kept its cash distributions at 20 percent of net income.

The Nairobi Securities Exchange-listed lender said it now targets to set a dividend policy of paying 35 percent to 50 percent of profits in a policy that also takes into account capital investment requirements.

The dividend policy comes after the bank emerged from the amalgamation of the former CBA Group and NIC Group --which previously did not have a formal dividend policy but had a tradition of paying a fifth of net income to shareholders.

NCBA price gets to @40...it has given the best return for the year both in dividend and price gain.
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