In Kenya, Safaricom shareholders have approved a final dividend of US$189 million at their 16th annual general meeting for the financial year ending March 31, 2024.
Shareholders voted for a final dividend of KES 0.65 per share, totalling US$189 million.
Peter Ndegwa, Safaricom PLC Group CEO, highlighted the business’s significant resilience in achieving outstanding growth in the top and bottom lines. Safaricom’s Kenyan business alone surpassed earnings of more than USD1 billion before tax and interest, a landmark achievement in the Eastern Africa region.
The dividend is scheduled to be payable on or about August 31, 2024, to the Shareholders on the Register of Members at the close of business on July 31, 2024.
Adil Khawaja, chairman of the board, commended the resilience shown in delivering a robust set of financial results despite the startup losses in Ethiopia. The success was attributed to strong strategy execution, focusing on delivering value to shareholders and customers.
Despite the challenging economic environment in both Kenya and Ethiopia, Safaricom demonstrated remarkable resilience and maintained strong financial performance. Factors such as high interest rates, inflation, and currency fluctuations did impact disposable income and business, but our robust strategies helped us navigate these challenges.
