Equity and Absa Among Banks Expected to Issue Dividend Payments This Week

Kenyan listed banks are set to reward their shareholders generously with a combined payout of Ksh 63.08 billion for the financial year 2023, expected on this Friday, the 28th. This exciting news comes after a period of strong performance by the banks, with most reporting significant growth in net profits.

Equity Group Holdings, a regional banking giant, leads the way with a payout of Ksh 15.1 billion. The bank will maintain its dividend per share at Ksh 4, providing investors with an impressive dividend yield of 11.9%.

Standard Chartered Bank Kenya will pay out a total of Ksh 10.96 billion, reflecting a notable 31.8% increase from the previous year. Shareholders can look forward to a higher dividend per share of Sh 29, compared to Sh 22 in 2023.

Co-operative Bank will distribute Ksh 8.8 billion in dividends, keeping its dividend per share at Sh 1.5. This comes despite a solid 5.2% growth in net profit to Sh 23.2 billion for the financial year. The largest shareholder, Co-op Holdings Co-operative Society Limited, will receive Sh 5.68 billion on its 64.56 percent stake.

Read Also : Safaricom and Pezesha Roll Out “Mkopo wa Pochi” Loan for Small Business Owners

Absa Bank shareholders can expect a treat with a planned total payout of Ksh 8.42 billion, representing a 14.8% increase year-on-year. The bank declared a final dividend of Sh 1.35 per share, adding to an interim payout of 20 cents per share, bringing the total dividend per share to a new record of Sh 1.55.

NCBA Bank will reward its shareholders with Ksh 7.83 billion, reflecting a promising 11.8% increase from the previous year. The dividend per share has been raised to Ksh 4.75 from Ksh 4.25 in FY 2022, following a remarkable 56.2% increase in the bank’s net profit. The dividend payout of Sh 4.75 per share follows the addition of a Sh 3 final pay to the interim Sh 1.75 declared in September last year.

Stanbic Bank shareholders are set to receive a total of Ksh 6.07 billion, a 22% increase from the previous year. The bank is raising the dividend per share to a record Sh 15.35 from Sh 12.60, marking the highest-ever payout in the history of the lender. The increased dividend per share will see shareholders pocket a total of Sh 6.07 billion or 49.9% of the net earnings, compared to the previous year when it distributed Sh 4.98 billion or 55% of its profit.

Read Also : Stanbic Bank Announces KES7.2 Million Up for Grabs in new Deposit Drive “Switch Campaign”

I&M Bank will distribute Ksh 4.22 billion in dividends, reflecting a 13.3% year-on-year increase. The dividend per share has been raised to Sh 2.55 from Sh 2.25 in FY 2022. This marks the third consecutive year of increased dividends, matching the per-share distribution made by I&M in 2019.

DTB Bank will distribute Ksh 1.68 billion in dividends, reflecting a 20% increase from the previous year. The dividend per share has been raised to Sh 6.00 from Sh 5.00. The dividend represents a payout of 24.3% of the net income for the review period, up from 23% the previous year when the lender posted a net profit of Sh 6 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *