KCB Group to Pay Shareholders Sh6.4B Dividends

In the whole fiscal year that ended in December of the previous year, KCB Group will pay stockholders Sh6.4 billion.

At the 52nd Annual General Meeting (AGM), shareholders adopted the Board’s recommended final dividend of Sh1 per share.

KCB approved Sh3.2 billion in interim dividends at the end of the last year.

“In the face of a challenging and volatile business landscape, the Group remained resilient, continuously delivering value to stakeholders, and solidifying the foundation of the enterprise. We have in place a robust strategy that enables us to prudently deploy our capital and resources across the region to ensure superior returns from our investments,” KCB Group Chairman Andrew W. Kairu said.

The news follows a 20 percent increase in the group’s profit to Sh40.8 billion due to greater financed and non-funded incomes.

It will pay the dividend on or about May 26, 2023.

“We are bullish about 2023 and are gearing up to maximize on all the opportunities that are available in our various markets. We have continued to embed sustainable practices in all our business operations and strategy,” Kairu added.

“The business is well aligned to drive green finance and accelerate our net zero ambitions while also supporting our citizenship agenda to deliver meaningful change in our communities.”

The board also authorized the appointment of Joseph Kinyua and Anuja Pandit as directors during the shareholders meeting.

“We have maintained a steady growth in all our core indicators which has culminated to an impressive performance both in balance sheet and in profitability. This was made possible by strong revenue momentum across the corporate and retail businesses,” KCB Group CEO Paul Russo said.