Should you buy Safaricom stock before Monday earnings?
Safaricom plans to reports its fiscal 2021 half-year results on November 9. The coming results are for the six months ending September 2020. Safaricom will release the earnings before the Nairobi Securities Exchange opening bell. Safaricom CEO Peter Ndegwa will lead the company’s management team to discuss the results at a conference call after the closing bell.
Should you buy Safaricom shares ahead of the earnings report?
Safaricom shares closed at Ksh31.25 on November 5 after trading in the Ksh30 – Ksh31.30 range. At this point you can buy Safaricom shares at 7% discount to what other investors were paying for them in January.
Where to buy Safaricom shares
Safaricom shares trade on the Nairobi Securities Exchange under SCOM ticker symbol. To be able to buy Safaricom shares, you’ll first need to open a stock trading account called CDS account. You can open the account through a stockbroker or an investment bank. Once you open the CDS account, decide the number of Safaricom shares you want to buy and place your order.
There’re different order types investors can choose from when buying shares on the Nairobi Securities Exchange. If you want to buy Safaricom shares quickly, it’s best to place a Market order type as it executes immediately. On the other hand, if you prefer to buy Safaricom shares at a specific price, then you should place a Limit order type.
Does Safaricom pay dividends?
Investors looking for the best public companies to invest in Kenya for dividends may find Safaricom stock appealing. Safaricom has a long dividend history. The company has paid dividend every year since it went public in 2008.
Moreover, Safaricom has a policy of increasing its dividend every year. Safaricom’s latest dividend was paid in August 2020, with the company distributing a dividend of Ksh1.40 per share and spending Ksh56 billion on the program.