This archive report was first published on 10 July 2020.
On July 9, 2020, shareholders of the Nairobi Securities Exchange (NSE) Plc approved a first and final dividend of KSh 0.08 per ordinary share for the year ended December 2019. This dividend is a decrease from the KSh 0.49 paid out in 2018.
The company's financial performance for the year ended December 2019 showed a significant decline in net earnings, dropping by 58% to KSh 80.1 million compared to KSh 190.7 million in 2018. This decline was attributed to a 9% decrease in revenues, primarily due to a 12% decline in equity trading turnover.
During the virtual Annual General Meeting (AGM) held on July 9, 2020, shareholders also reappointed PricewaterhouseCoopers LLP as the company's auditors for the financial year ending December 2020. Additionally, they approved the directors' remuneration and reelected Samuel Maina Njuguna, Bob Karina, and Michael Turner to the company's board.
Looking ahead, the NSE anticipates cautious investor activity in the medium term due to the ongoing COVID-19 pandemic. However, the bourse remains optimistic, citing increased buying positions by local investors. The company plans to increase listings by encouraging privatization of government-owned companies and accelerate innovations to expand its retail footprint.
