Treasury receives Sh2.1 billion dividend from KCB

Yatani said the payment would help Kenya's revenue inflow amidst the Covid-19 Pandemic.

In Summary

• Yatani said the payment would help revenue inflow in the midst of the Covid-19 pandemic.

• This comes after KCB Group PLC 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.

Treasury CS Ukur Yatani (Third, Left), receives a dummy cheque for Sh2.1 billion of dividends from KCB on June 17, 2020.
Treasury CS Ukur Yatani (Third, Left), receives a dummy cheque for Sh2.1 billion of dividends from KCB on June 17, 2020.
Image: COURTESY

Treasury CS Ukur Yatani on Wednesday received the government's dividend cheque worth Sh2.1 billion from Kenya Commercial Bank.

The government is the single largest shareholder at KCB with an ownership of 17.53 per cent of the shares.

Yatani said the payment would help revenue inflow in the midst of the Covid-19 pandemic.

This comes after KCB Group PLC 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 approved a final Sh2.50 dividend per ordinary share as 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.