The shareholders approved a final dividend of KShs 1.50 per share
KCB Group Plc shareholders have approved a KShs. 9.6 billion total dividends payout for the 2024 financial year, as the Group seeks to consolidate its growth ambitions across the East African region.
The shareholders approved a final dividend of KShs 1.50 per share. An interim dividend of KShs. 1.50 per share was paid on October 23, 2024, bringing the total dividend paid for the year to KShs. 3.00 per share, equivalent to KShs. 9.6 billion.
This coupled with a share price appreciation of 90.0% recorded in the year amounts to a total shareholder return of 97.2% in 2024 up from -42.5% in 2023.
Speaking during the AGM, Group Chairman Dr. Joseph Kinyua noted: “KCB Group remains committed to supporting businesses, individuals, and communities to weather the challenges and, where possible, provide opportunities for growth through its regional footprint and diverse products, services and solutions”.
On Wednesday, KCB Group reported a profit after tax of KShs.16.53 billion in the first quarter of the year ending March 2025, compared to KShs.16.48 billion reported a similar period last year.
Total revenues rose 2% to KShs.49.4 billion, while the Group’s balance sheet closed the period at KShs.2.03 trillion, from KShs.1.99 trillion due to stable loan portfolio. The profit before tax contribution by the subsidiaries outside KCB Bank Kenya improved to 32%, resulting from the Group’s focus on deepening regional scale.
“Based on our performance for the year and our commitment to providing our shareholders with long-term sustainable value from their investment, the Group proposed the payment of interim and final dividends, while ensuring adequate capital retention for growth and regional expansion.” Said KCB Group CEO Paul Russo.
The ongoing sale of National Bank of Kenya Limited (NBK) to Access Bank PLC (Access Bank) is at the tail end. KCB also received a nod to transfer certain assets and liabilities of NBK to KCB Bank Kenya Limited.
Through the adoption of Sustainability and Environmental and Social Governance (ESG) practices, the bank disbursed green loans worth Ksh 53.2 billion and screened loans worth KShs. 513 billion.
