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:
| HOW TO CALCULATE FOR DIVIDENDS | AMOUNT IN KSHS |
| 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:
- Excise duty
- Processing fee