KCB Group will pay shareholders a Kes6.4 billion dividend in the year ending December last year to be paid on or about May 26, 2023.
This is after shareholders approved a final dividend of Kes1 per share as recommended by the Board at the 52nd Annual General Meeting (AGM).
The lender had approved Kes3.2 billion in interim dividends late last year.
KCB Group Chairman Andrew W. Kairu noted that 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.”
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The announcement comes after the group’s profit jumped 20 per cent to Kes40.8 billion on higher funded and non-funded incomes.
“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.
Further, he noted that the business is well aligned to drive green finance and accelerate its net zero ambitions while supporting its citizenship agenda to deliver meaningful change in communities.
During the shareholder's meeting, the board also approved the appointment of Anuja Pandit and Joseph Kinyua as directors.
“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.