This archive report was first published on 7 July 2020.
On June 26th, I&M Holdings shareholders gathered for their Annual General Meeting (AGM), where they approved a first and final dividend of KSh 2.55 per share.
The dividend payout, totaling KSh 2.1 billion, was made to shareholders who were registered with the company by June 8th, 2020.
According to an extract of the shareholders' resolution, seen by The Kenyan Wallstreet, the dividend payment was approved as follows: 'That the payment of a first and final dividend of KSh 2.55 per share amounting to KSh 2,108,367,382 for the year ended 31st December 2019 is hereby approved.'
Notably, I&M Holdings recorded a significant net profit of KSh 10.8 billion in the previous year, representing a 27% increase from KSh 8.5 billion in 2018. The majority of this profit came from the company's Kenyan business, which is valued at KSh 287.2 billion.
During the AGM, shareholders also reelected several directors, including Vincent De Brouwer, Rose Wanjiru Kinuthia, Daniel Ndonye, Suresh Bahgwanji, Alice Nyambura Kogia, and Michael Turner. Additionally, the company chose to retain KPMG as its auditors.
Furthermore, the shareholders resolved that the board would have discretion in determining whether future meetings would be held via electronic or other communication facilities that allow all entitled parties to participate.
