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Treasury Receives KSh 2.12 Billion in KCB Dividends

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5 years ago

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The National Treasury received KSh 2.12 billion in KCB dividends payout. This makes total KCB dividends payout to the government to add up to KSh 12.98 Billion for the past ten years.

In early June, KCB announced a final dividend of KSh 2.50 per ordinary share during the Annual General Meeting. Therefore, the Bank Group paid a total dividend of KSh 3.50, taking into account the KSh 1.00 interim dividend announced in November 2019. The bank disbursed KSh 11.1 billion total dividends for the 2019 financial year.

Speaking on the payout, the KCB Group Chairperson Andrew Kairu said that:

“KCB has over the years consistently maximized shareholder value and provided an unmatched return on investment to its shareholders and above all, built a sustainable organization.”

According to the bank’s 2019 financial report, the government is the biggest shareholder in KCB, owning 19.76% stocks. The National Social Security Fund (NSSF) follows at second with 7.12% shareholding.

The Bank Group recently conducted a virtual Annual General Meeting on Thursday, June 4, 2020, due to the COVID-19 restrictions. In the meeting, shareholders elected PriceWaterhouse Coopers to replace KPMG as their independent auditors.

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