KCB announces Sh11.1 billion dividend payout

In Summary

• KCB Group chairman Andrew Kairu told shareholders that in spite of the tough business environment last year, the business continued to generate returns for its shareholders.

• Looking ahead, he said KCB is focused on continually supporting its stakeholders through the ongoing global Covid-19 pandemic.

KCB CEO Joshua Oigara.
KCB CEO Joshua Oigara.
Image: FILE

KCB Group PLC has announced a Sh11.1 billion total dividend payout to shareholders for the 2019 financial year, signifying a sustained return to shareholders amid a tough operating environment.

Shareholders have approved a final Sh2.50 dividend per ordinary shareas recommended by the board at this year’s Annual General Meeting.

Due to the ongoing government Covid-19 restrictions on public gatherings, KCB Group on Thursday hosted an electronic AGM where shareholders were able to register, access information pertaining to the 2019 Integrated Report and Audited Consolidated Financial Statements, vote, ask questions and seek clarifications.

The payout brings to Sh3.5, the total dividend for the year, taking into account an interim dividend of Sh1 per share paid out last November.

The dividend will be paid on or before July 3, 2020 to shareholders on the register as of close of business on April 27, 2020.

KCB Group chairman Andrew Kairu told shareholders that in spite of the tough business environment last year, the business continued to generate returns for its shareholders.

Looking ahead, he said KCB is focused on continually supporting its stakeholders through the ongoing global Covid-19 pandemic. “The crisis has seen the world confront its biggest health crisis this century. Our thoughts remain with the individuals and communities affected by the pandemic," he said.

"We recognise that our actions during this pandemic are essential in keeping our economies across the region going. We have incorporated guidelines provided by the government and adopted a raft of measures to cushion our staff, customers and stakeholders from the effects of the disease."