Safaricom has today announced that its shareholders have approved a Ksh. 1.40 dividend per share for the financial ending 31st March 2020. This is an increase from the Ksh. 1.25 which was paid to shareholders in the same period in 2019.
This dividend was voted for by shareholders during the 12th Annual General Meeting (AGM) which was held virtually. A total of Ksh. 56.09 billion will be paid out to shareholders with the Government of Kenya expected to receive Ksh. 19.63 billion. In 2019, the company issued a special dividend of Ksh. 0.62 per share bringing the total dividend issued to shareholders of Ksh. 1.87, amounting to Ksh. 74.92 billion.
“As a purpose-driven business, Safaricom has been prioritizing support to Small and Medium-Sized Enterprises. We hope that the dividends they receive as shareholders will give the much-needed boost for their businesses during this difficult COVID-19 pandemic period even as we come up with ways to ensure we support them post COVID-19,” said Mr. Nganga.
At the AGM, Michael Joseph was also appointed as the new Safaricom board chairperson effective August 1st 2020. He replaces long serving chairperson Nicholas Nganga who is retiring.