Safaricom PLC announced a total dividend of KES 1.20 per share for the financial year ended March 31, 2024, amounting to KES 48.08 billion.
This follows a robust performance marked by record earnings of over USD1 billion in Kenya.
Despite economic challenges, Safaricom demonstrated resilience, delivering strong financial results and strategic execution.
|
Safaricom PLC Income Statement |
|||
| Item (All figures in Bns) | FY’2023 | FY’2024 | y/y change |
| Total Revenue | 310.9 | 349.4 | 12.4% |
| Operating costs | (171.0) | (186.2) | 8.8% |
| EBITDA | 139.9 | 163.3 | 16.8% |
| Depreciation & Amortization | (54.9) | (82.9) | 51.2% |
| Operating Profit | 85.0 | 80.3 | (5.5%) |
| Net Finance Costs | (7.1) | (16.6) | 134.8% |
| Profit Before Tax | 88.3 | 84.7 | (4.1%) |
| Profit After Tax | 52.5 | 42.7 | (18.7%) |
| Dividend Per Share | 1.2 | 1.2 | 0.0% |
| Payout Ratio | 47.3% | 61.0% | |
| Dividend Yield | 7.7% | 7.5% | |
Source: Safaricom FY’2024 Financial Report
The company is optimistic about future growth, aiming to break even in Ethiopia within four years and become Africa’s leading technology company by 2030.
Ory Okolloh and Francesco Bianco exit Safaricom board
In separate news, the company announced the departure of board members Ory Okolloh and Francesco Bianco, expressing gratitude for their contributions.
In a statement issued by the acting company secretary, Lisa Wambani, Okolloh’s tenure ended on July 24, 2024, while Francesco Bianco is slated to leave on August 1, 2024.
The decisions were made following a comprehensive board meeting held on July 24, 2024.
