Corporate NewsSafaricom Declares Kes 0.45 Interim Dividend

Safaricom CEO Peter Ndegwa

Kenya’s top telco Safaricom Plc on Thursday declared an interim dividend of Kes 0.45 per ordinary share to its shareholders.

The uncertainty over the Covid-19 pandemic saw many companies listed on the Nairobi Securities Exchange especially in the banking sector withdraw dividend payout in a strategy to keep cash within.

Safaricom’s Board on Thursday said it has approved the payment of an interim dividend on all ordinary share held by shareholders amounting to Kes 18.029 billion for the year ending March 31.

“This is in recognition of the company’s solid half-year performance and to support our shareholders during these difficult economic times occasioned by the Covid-19 pandemic,” said Kathryne Maundu, Company Secretary in a notice.

“The interim dividend will be payable to shareholders as at the close of business on March 5 and will be paid on or about March 31.”

Safaricom Half Year Performance

Safaricom had quite the good half year. The company noted a decline on M-Pesa revenue which was pointed to the fact that for a good part of the 2020, in accordance with the Central Bank’s directive, transactions of KES. 1000 or less were been free.

Despite the 4.8% drop in Service Revenue, Safaricom increased capital expenditure by 25.5% to KES 22.75 Billion, signaling what the company described as investment commitment to building a network infrastructure that supports the country’s economic development as was said by the company’s CEO Peter Ndegwa.

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