This archive report was first published on 5 June 2020.
Published on June 5, 2020, KCB Group declared a Ksh11.1 billion total dividend payout to its shareholders for the 2019 financial year, maintaining its tradition of maximizing returns for its investors despite a challenging economic environment.
At the lender's Annual General Meeting (AGM) held on Thursday, shareholders approved a final dividend of Ksh2.50 per ordinary share, as recommended by the board.
Due to the ongoing COVID-19 restrictions on public gatherings, KCB hosted a virtual AGM, allowing shareholders to seek clarifications and ask questions about the company's financial performance.
The dividend payout brings the total dividend for the year to Ksh3.50, including an interim dividend of Ksh1.00 per share paid out in November 2019.
The dividend will be paid on or before July 3, 2020, to shareholders on the register as of close of business on April 27, 2020.
Group Chairman Andrew Wambari Kairu emphasized that despite the tough business environment in 2019, the company continued to generate returns for its shareholders.
Looking ahead, KCB is focused on supporting its stakeholders through the ongoing global COVID-19 pandemic, incorporating government guidelines and adopting measures to cushion its staff, customers, and stakeholders from the effects of the disease.
“The crisis has seen the world confront its biggest health crisis this century. Our thoughts remain with the individuals and communities affected by the pandemic. We recognize that our actions during this pandemic are essential in keeping our economies across the region going,” said Kairu.
Group CEO Joshua Oigara noted that under the current tough macro-economic environment, business performance is likely to be subdued in the second half of the year, with the potential for reduced demand for credit and impacted customer loan servicing.
