This archive report was first published on 1 August 2019.
August 1, 2019
Safaricom's founding CEO Michael Joseph has sold off his entire shareholding in the company. According to the telco's annual report, Joseph sold all 1.17 million shares he held as of March 31, 2018, by the end of the company's financial year in March 2019.
Joseph's shareholding was worth over Sh31 million at the current Safaricom share price of Sh27. He will miss out on the special dividend that Safaricom will pay out this year, which totals to Sh75 billion.
Transport Principal Secretary Esther Koimett has also sold all her shares in the telco. She had 517,600 shares in the company as of March this year and will also miss out on the special dividend.
At the Annual General Meeting to be held on August 30, a total dividend of Sh1.87 per share will be proposed, comprising a final dividend of Sh1.25 per share and a special dividend of Sh0.62 per share.
According to the report, Vodafone Kenya will get Sh29.9 billion in dividends from its 40 per cent shareholding in Safaricom, while the Government will earn Sh26 billion. The balance of Sh20 billion will be shared among the firm's retail shareholders.
