Standard Chartered Defer Dividend Payment on Inability To Hold It’s AGM
Standard Chartered Bank Kenya Plc has notified shareholders that it will not meet its dividend payment as scheduled since he company will not be able to hold an Annual General Meeting with its shareholders, where such matters are approved. The AGM had been cancelled due to Government restrictions on public gatherings.
Stanchart had proposed dividend of Sh15 for every ordinary share.
“We are monitoring the COVID-19 pandemic which continues to pose a challenge even as we work towards determining the most suitable time and manner for holding the 34th AGM which remains postponed,” Nancy Oginde, Company Secretary, SCBK.
“Consequently, the company will not be in a position to pay the dividend on 28 May 2020 as proposed and announced through the NSE as it would not have been approved by shareholders as an AGM as required.”