Centum Investment Company Plc has announced paying its shareholders Kes 400 million in the full year ending March 2023, attributed to profit growth.

The payout increased from the Kes 391 million paid last year during a similar period.

Centum increased its pre-tax earnings from Kes 61.3 million to Kes 207.3 million in the most recent report.

The profit increase was due to a Kes 2.3 billion (31.2%) increase in investment and other income.

Centum Investment Plc Group CEO James Mworia said Centum Real Estate recorded a profit of Kes 2 billion, up from Kes 608 million over the same time.

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“This represents dividend per share of Kes0.60, up from Kes0.59 in the last financial year, in line with the policy to pay out 30% of annuity income. This proposal will be considered for approval by shareholders at the next annual general meeting,” he said.

This comes after Centum Group purchased undeveloped land from Two Rivers Development Limited (TRDL) as part of the Special Economic Zone (SEZ) for the Two Rivers International Finance and Innovation Centre (TRIFIC).

A rise in property tenancy and the sale of development land rights indicate that the SEZ licence is beginning to pay off.