This archive report was first published on 17 June 2020.
On June 17, 2020, KCB Group Plc made history by disbursing a Ksh2.12 billion dividend payout to the government for the year ending December 2019, marking a sustained return to shareholders amidst a challenging operating environment.
The dividend payout, comprising Ksh1 interim dividend and Ksh2.50 final dividend, is the highest amount the KCB has ever paid in dividends to the government, surpassing the Ksh1.8 billion payout in 2018.
During the 2019 Annual General Meeting on June 4, KCB Group shareholders approved a KShs.11.1 billion total dividend payout, with the dividend to be paid on or before July 3, 2020, to shareholders on the register as of close of business on April 27, 2020.
Speaking at the handover ceremony, KCB Group Chairman Andrew Wambari Kairu emphasized the bank's commitment to maximizing shareholder value and providing an unmatched return on investment to its stakeholders.
“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. We need to channel resources directly to Micro, Small and Medium Enterprises (MSMEs) to get them going through the crisis” said Treasury CS Ukur Yatani.
The government's instrumental role in the acquisition of National Bank Kenya by KCB Group in September 2019 was also highlighted.
Looking ahead, KCB is focused on supporting its stakeholders through the ongoing global COVID-19 pandemic and driving economic recovery efforts.
