Shareholders of KCB Group Friday approved a final dividend of KSh2.00 per share as recommended by the board for FY2021 during the 51st Annual General Meeting held virtually.
This translates to KSh 9.64 billion in total dividends signifying a sustained return to shareholders despite the pandemic impact on businesses.
The dividend shall be paid on or before July 7, 2022, net of withholding tax to the shareholders who were on the register of members at the close of business on April 25, 2022.
“The Group made significant progress with our strategic priorities and delivered strong business and financial returns. This performance affirms the robustness of all other important aspects of our business,” KCB Group chairman Andrew Kairu said.
“Moving forward, we are determined to sustain this momentum. targeting to maintain return on average equity above 20% as our operating environment continues to improve,” he added.
The Group has over the years grown a diverse shareholder base of 193,274 shareholders, 89 percent of whom are local individual and institutional investors, while 11 percent are foreign investors.
In the first quarter of 2022, the Group sustained the growth momentum to post a net profit of KShs.9.9 billion for the period ending March. The 54.4% growth in profitability from KShs.6.4 billion a year earlier was on the back of increased net interest income.
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