Share Trading and Rebates/Dividends FAQ
This refers to the process of buying shares from existing members and not directly from Safaricom Investment Cooperative (S.I.C.)
All Bonafide members are eligible. A non-member cannot participate in secondary trading of shares.
This a member with at least 100 minimum shares and with regular standing contribution in S.I.C
As a member you can float your shares anytime and anywhere across the globe since we now have an online member’s portal https://webportal.sic.co.ke.
By depositing money to the share trading account
Shares are allocated every week in a cycle of 7 working days as long as the trading market is open.
Shares are allocated on a First In First Out (FIFO) basis
You inherit shares from the seller plus the dividends he had accumulated in the financial year.
The much you can afford and as much as are available on the secondary market. The shares are sold by the lots defined by the seller.
You cannot sell your shares above the ceiling price currently at Kshs. 525/=. Neither can you sell below the floor price being Kshs. 490/=.
A minimum of 100 shares and a maximum of shares that you own.
If you want to still continue as a member you must retain a minimum of 300 shares,
By selling all your shares through the portal
Rebates are returns on investment in SIC shares.
They are paid after end of each financial year after being ratified by the members in an AGM.
As a member you are at liberty to recapitalize (convert them into shares) hence not a must for one to take them in form of cash
It is a weighted average of my shareholding prorata
The office does an official communication to all bonafide members in that particular financial year
The rebates information is accompanied by a calculator for verification as indicated in the statement.
Yes. Its subject to 10% withholding tax as stipulated in the Sec 19A(2) of the Income Tax Act and Paragraph 5 of the 3rd Schedule.
Rebates are payable via bank accounts, MPESA, Safaricom SACCO fosa. We do not write cheques for rebates.
A percentage is retained as has been approved by members during an AGM