Jubilee Holdings Set to Pay 652.3 Million in Dividends to Shareholders
Jubilee Holdings Limited has announced a total dividend of Kes 652.3 million of Kes 9 per share for the financial year ended December 2019.
The final dividend payout of Kes . 579.8 Million of Kes 8 per share, which will be released Friday, will be a pleasant relief to many shareholders who have borne the negative effects of COVID-19.
Commenting on the move, Jubilee Holdings Limited Group Chairman Mr. Nizar Juma noted that since going public the company has always paid a dividend to its shareholders and to date has never paid a dividend lower than the previous year.
“We are proud that Jubilee Holdings has demonstrated its solid financial ground and stood by its shareholders, and not lowered the dividend payout, despite the current difficulties caused by the COVID-19 Pandemic.” Mr. Juma added.
JHL has also advised that it has rescheduled its 2020 AGM to a later date this year after the Company sought and obtained approval from the Business Registration Services.
The postponement has been occasioned by the challenges posed by the COVID-19 pandemic with regard to the physical conduct of Annual General Meetings.
As part of its business recovery plan during this period, Jubilee Holdings has enhanced its distribution channels with the recent roll out of its fully digitized online platforms to allow its customers to continue to purchase or renew their motor, medical and travel insurance products conveniently and with policies delivered electronically.
Recently, Jubilee Holdings Limited (JHL) announced the purchase of a further 9.44% interest in Bujagali Energy Limited (BEL) valued at US$ 45 million (KES 4.8 Billion) from the technical partners, SN Power.
This is part of the group’s efforts to continue to diversify into investments that are hedged in US dollars to protect capital and provide better yield and a high return.