By Malachi Motano
Most Saccos rewarded members with favourable dividends in the 2019-2020 financial year despite the challenges posed by the Covd-19 pandemic.
The Giant Mwalimu National Sacco (MNS) paid only interests on deposits to members at the rate of 9.3%, compared to 2019 when it paid the same at 10.2 and 11.2% dividends.
Also withstanding the tough challenges was Stima Sacco, which paid a dividend rate of 14% and a rebate of 10.75%, compared to 14% and 10.5% respectively in 2019.
Members of the Kenya National Police DT Sacco Society Limited, had a reason to smile after getting dividends and interests on deposits at 17% and 10.5% respectively
The giant Harambee Sacco offered dividends at 6% compared to 2019 when it paid both dividends and interest on member’s deposits at 6.5%
At Sheria Sacco, payment was also rewarding as dividends and interests on deposits were at the rate of 16% and 8.5% respectively.
Equally impressive was Shirika Sacco which paid dividends and interests on deposits at 14.5% 10 %, compared to 13.50% and 9.50% in 2019
Hazina Sacco posted its Net (Interest & Dividend less 5% w/tax) amount for the year at 10.3%, compared to 2019 when it paid dividends 20% and 10.6 % pro rata basis on deposits.
Other Saccos that paid out dividends in the challenging business environment included Ukulima Sacco whose payment interests on deposits were rated at 9 % and dividends on shares at 14%.
Asili Sacco also maintained payment of dividends at the rate of 12.32% but reduced interest on deposits from 7% in 2019 to 6%.
Kimisitu Sacco lowered payment of dividend and rebates from 20% and 11% in 2019 to 15% and 8% respectively
Nyati Sacco also maintained its record of payment of dividends and interests on deposits at the rate of 21% and 11.25% like in 2019 financial year
In the media industry that also faced many business challenges, Nation Sacco paid dividends at 15% and 8% interest on deposits unlike 20% and 9% in 2019 respectively.
In the telecommunications sector, Safaricom Sacco also maintained its record of paying dividends and rebates at 12% and 7.5% respectively.
Elsewhere, Maisha Bora Sacco paid interest rate on member deposits of at the rate of 9.5% compared to 10% in 2019 while maintaining a dividend on share capital of 15%.
In the coast region, Bandari Sacco also paid dividend on share capital at the rate of 18% and interest on members’ deposits at the rate of 10% (Fosa/Bosa) for the year ended 31st December 2020.
In 2019 the Sacco paid dividends at the rate of 22% and interest on deposits at 12.5%.
Mafanikio Sacco also posted good results, with dividend on shares at 17% but witnessed a 0.5% slight decline in interest on deposits from 9% in 2019 to 8.5%.
Tabasamu Sacco also performed well with payment of dividends at the rate of 10% like in 2019 on the invested shares and 3.5 % on Sacco deposits compared to 3 % in 2019.
Others that paid out are Qwetu Sacco, which paid members a dividend of 12% and interest on deposits of 9.2 %. In 2019, it paid the two at 11% and 9.1% respectively.
Then Tower Sacco also maintained payment of dividends and interest on deposits at the rate of 20% and 13%
Ollin Sacco was also on upward trajectory, paying dividends at 15% and interest on deposits at 11.85%.
Mwito Sacco paid rebates at 8.5% and dividends at 15%. In 2019, it paid the two at 8% and 13% respectively.
Equally impressive was IG Sacco which paid interest on non-withdrawable deposits at 15% and dividends on share capital at 12% while in 2019, they paid the two at 12% and 14% respectively
Kitui teachers paid dividends at 13.6%, interest on deposits at 12.56% compared to 2019 when it paid the two at 13.4% and 12.5% respectively.
Other major players like Winas Sacco issued interest on deposits at 12.57% and dividends at 14.3%. In 2019 and paid the two at 12.6% and 15.6%.
Boresha Sacco also performed impressively, paying dividends at 12% and 8.5% interest on members deposits compared to 2019 when it paid the two at 12% and 9% respectively.
Siraji Sacco paid first and final dividend at the rate of 7% per share like the previous year and interest on member’s deposits at the rate of 5% same as 2019 on pro-rata basis.
Biashara Sacco gave dividends at 18% and interest on deposit at 12%. In 2019, it paid 17% and 11% respectively.
Members of Unison Sacco also smiled their way to the bank after getting the first and final interests on deposits and dividends on shares at 12.2 %, compared to 2019 when it paid 12.0% and 13% respectively.
Newfortis Sacco paid 12.9 % and 14% as rebates and dividend while in 2019 it paid 12.8% and 13%
Cosmopolitan Sacco dividends and rebates increased to 15% and 11.8% from the 10% and 11.2% in 2019.
Prime Time Sacco increased percentage dividends and rebates from 6.5% and 7.5% in 2019 to 8.0% and 8.5 in 2020, as Magadi Sacco maintained payment of interest on deposits and dividends at the rate of 14% and 20%
Mombasa Port Sacco paid interest on member’s deposits 12.5% compared to 13% in 2019 and also paid dividends at 20%.
Chai Sacco also maintained dividend payment at 12% and 8 % interest on member deposits.