Safaricom shareholders have approved a Kes 0.65 dividend per share payout amounting to 26.04 billion for the financial year ended March 31, 2024.

The approval follows an interim dividend of Kes 0.55 per share, amounting to Kes 22.04 billion, paid in March 2024.

Safaricom’s total dividend payout for the year now stands at Kes 1.2 per share, representing a cumulative Kes 48.08 billion.

“In the financial year under review, the business displayed significant resilience in producing outstanding growth in both our top and bottom lines. This enabled us to achieve a major milestone, attaining, in our Kenyan business alone, earnings of more than USD1 billion before tax and interest,” Safaricom Plc Chief Executive Officer (CEO) Peter Ndegwa said in a statement.

Safaricom says the year was marked by a challenging economic environment in Kenya and Ethiopia due to high interest rates, inflation, and currency fluctuations, which impacted disposable income and business operations despite the performance.

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However, Safaricom exuded confidence, underscoring its commitment to delivering value for shareholders through strategic investments and robust strategy execution.

The company anticipates breaking even in Ethiopia by the end of its fourth year of operations.