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How to calculate Your 2021 Mwalimu SACCO dividends

Just like other saccos, mwalimu national also pays dividends to members each year at the month of February. The sacco has declared dividends on total share capital (Kshs. 20,000) at 11.2%, rebates on deposits at 10.2% (your total amount at MNS minus the Kshs. 20,000 shares) and a withholding tax at 10% of dividends plus rebates.

Calculations for Mwalimu National sacco dividends:

Suppose the rebates on deposits of a member as at December 2020 is Kes. 100,000, capital shares at ksh 20,000 and he/she contributed Kes. 5,000 from January 2021 to November 2021, the total dividends will be calculated as follow:

10.5% of 100,000(Shares as at December 2020) 10,200
10% of 20,000(Capital shares) 2,240
10% of 5,000(January Contribution) 510
10% of 5,000 x 11/12(February  contribution) 467.50
10% of 5,000 x 10/12(January  contribution) 425
10% of 5,000 x 9/12(March  contribution) 382.50
10% of 5,000 x 8/12(April  contribution) 340
10% of 5,000 x 7/12(May  contribution) 297.50
10% of 5,000 x 6/12(June  contribution) 255
10% of 5,000 x 5/12(July  contribution) 212.50
10% of 5,000 x 4/12(August  contribution) 170
10% of 5,000 x 3/12(September  contribution) 127.50
10% of 5,000 x 2/12(October  contribution) 85
10% of 5,000 x 1/12(November  contribution) 42.50
TOTAL 15,755
5% of 15, 755 ( Withdrawal Tax) 787.75
AMOUNT RECEIVED AS DIVIDENDS (15755-787.75) 14,967.25

Note that dividends is subject to the following deductions:

  1. Excise duty
  2. Processing fee

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Amount  expected in your account (net) is the Actual amount (as Calculated above) minus any advance amount taken.

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