This archive report was first published on 17 June 2020.
On June 16, 2020, KCB Group Plc made history by disbursing Sh2.12 billion in dividend earnings to the government of Kenya for the year ending December 2019, marking a sustained return to shareholders amid a tough operating environment.
This payout, comprising Sh1 interim dividend and Sh2.50 final dividend, is the highest amount the bank has ever paid in dividends to the Government of Kenya, surpassing the Sh1.88 billion paid in 2018.
Speaking during the handover of the cheque to Treasury Cabinet Secretary Ukur Yatani, KCB Group Chairman Andrew Wambari Kairu said, 'KCB has over the years consistently maximized shareholder value and provided an unmatched return on investment to its shareholders and above all build a sustainable organisation that is now the biggest indigenous banking institutions in East Africa by assets, profitability and other key matrices.'
Notably, this payout is timely, coming at a time when there are rising expenditure demands in the wake of the COVID-19 pandemic and revenue collections are subdued. Treasury CS Ukur Yatani emphasized the need to channel resources directly to MSMES to get them going through the crisis.
As a significant player in the banking industry, KCB is committed to contributing to addressing socio-economic challenges across the different markets in which it operates. During this season when the COVID-19 pandemic has affected the economy, the bank is playing its role to stem the spread of the virus as well as cushion the economy through various initiatives, including restructuring of loans for its customers.
