Shareholders in Safaricom PLC are set to receive Kes0.58 per share or Kes23.42 billion in interim dividends on or about 31st March 2023.

The dividend will be Kes2.18 billion lower than last year’s Kes 25.6 billion for the year ending March 31 2023.

In a statement, the Telecommunication company noted that it was resolved at its meeting that was held on 24th February 2023, to approve the payment of an interim dividend of Kes.0.58 per ordinary share held amounting to Kes.23.42 billion, for the year ending 31st March 2023.

“The interim dividend will be payable to shareholders on the Register of Members as at the close of business on 15th March 2024 and will be paid on or about 31st March 2023,” it added in the statement.

Safaricom recorded a Kes7 billion drop in profit after tax in the six months to September 30, weighed down by inflation, newly introduced taxes, currency depreciation and the Ukraine-Russia war in November last year.

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The telco’s net profit dropped from Kes37.1 billion in the six months to September 30 2021, to Kes30.2 billion in the same period this year.

Revenue was boosted by service revenue that grew 4.6 per cent to Kes144.8 billion, supported by M-Pesa, mobile data, and fixed data growth.

Mobile data revenue grew by 11.3 per cent to Kes26.30 billion while M-PESA revenue rose by 8.7 per cent to Kes56.86 Billion.