NAIROBI, Kenya, May 26 – KCB Group will pay shareholders Sh6.4 billion in the full year ending December last year.
Shareholders approved a final dividend of Sh1 per share as recommended by the Board at the 52nd Annual General Meeting (AGM).
At the end of last year, the lender approved Sh3.2 billion in interim dividends.
“In the face of a challenging and volatile business landscape, the Group remained resilient, continuously delivering value to stakeholders, and solidifying the foundation of the enterprise. We have in place a robust strategy that enables us to prudently deploy our capital and resources across the region to ensure superior returns from our investments,” KCB Group Chairman Andrew W. Kairu said.
The announcement comes after the group’s profit jumped 20 percent to Sh40.8 billion on higher funded and non-funded incomes.
It will pay the dividend on or about May 26, 2023.
“We are bullish about 2023 and are gearing up to maximize on all the opportunities that are available in our various markets. We have continued to embed sustainable practices in all our business operations and strategy,” Kairu added.
“The business is well aligned to drive green finance and accelerate our net zero ambitions while also supporting our citizenship agenda to deliver meaningful change in our communities.”
During the shareholders meeting, the board also approved the appointment of Anuja Pandit and Joseph Kinyua as directors.
“We have maintained a steady growth in all our core indicators which has culminated to an impressive performance both in balance sheet and in profitability. This was made possible by strong revenue momentum across the corporate and retail businesses,” KCB Group CEO Paul Russo said.
