NAIROBI, Kenya, Aug 1 – Safaricom shareholders have approved a Sh80.13 billion dividend for the financial year ended March 2026, the largest payout in the company’s history, following improved earnings and signs that its Ethiopian business is approaching profitability.
The approval was granted at the company’s 18th Annual General Meeting, where shareholders backed a final dividend of Sh1.15 per share, bringing the total dividend for the year to Sh2.00 per share, including an interim dividend of Sh0.85 paid in March.
The increased payout follows three years during which Safaricom maintained its dividend as it funded the expansion of its Ethiopian operations while absorbing the effects of currency reforms and the depreciation of the Ethiopian birr.
Safaricom Group Chief Executive Officer Peter Ndegwa said the results reflected a year of stronger financial performance after a period of heavy investment.
“We marked 25 years of connecting and driving transformation through our services and community involvement.”
“We did this while delivering our strongest financial performance yet.”
Safaricom’s shares gained 50.3 percent during the financial year, lifting its market capitalisation to Sh1.10 trillion by the end of March.
The company’s market value has since risen further to about Sh1.44 trillion ahead of the AGM.
The company said its Ethiopian subsidiary is expected to break even during the current financial year, a milestone that could reduce pressure from losses associated with its regional expansion.
The final dividend will be paid on or about September 4, 2026, to shareholders on the register as of August 4.
Shareholders also approved resolutions formalising changes to the company’s ownership structure after Vodacom Group increased its stake through the acquisition of an additional 15 percent shareholding from the Government of Kenya via Vodafone Kenya Limited.
Following the transaction, Vodacom now owns 55 percent of Safaricom, while the Government of Kenya holds 20 percent and public investors own the remaining 25 percent.
Board Chairman Adil Khawaja said the revised ownership structure strengthens the company’s relationship with its majority shareholder.
“The transaction increasing Vodacom Group’s shareholding has now been completed.”
“It gives Safaricom greater access to the group’s regional expertise and scale.”
During the meeting, shareholders also re-elected Edward Okaro to the board and reappointed Ernst & Young as external auditors.
