KCB Group defies tough times, disburses Sh2.1b dividend payout
Zachary Ochuodho @zachuodho
National Treasury has received Sh2.12 billion in dividend earnings from KCB Group Plc for the year ended December 2019, signifying a sustained return to shareholders amid a tough operating environment.
The return made up of Sh1 interim dividend and Sh2.50 final dividend is the highest amount KCB has ever paid in dividends to the Government. In 2018, the payout was Sh1.9 billion
On June 4, during the 2019 annual general meeting, KCB Group shareholders approved an Sh11.1 billion total dividend payout.
The dividend will be paid on or before July 3, 2020 to shareholders on the register as of the close of business on April 27, 2020.
KCB Group chairman Andrew Kairu said the group has over the years consistently maximised shareholder value and provided an unmatched return on investment to its shareholders.
“KCB has built a sustainable organisation that is now the biggest indigenous banking institutions in East Africa by assets, profitability and other key matrices,” Wambara said.
Speaking during handing over of the cheque to National Treasury Cabinet Secretary, Ukur Yatani, Kairu said the bank has cumulatively been able to paid Sh12.98 billion in dividends to the government in the last decade.
“This payout is timely, coming at a time when there are rising expenditure demands in the wake of Covid-19 and low revenue collections.
We need to channel resources directly to MSMEs to get them going through the crisis,” he said.