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Safaricom’s CEO Bob Collymore with Chairman Nicholas Nganga/FILE

Kenya

Safaricom announces special dividend of Sh0.68 per share

Safaricom’s CEO Bob Collymore said that there is room for this one-off special dividend of Sh27.5 billion due to the company’s cash position, and the significant retained earnings of Sh82 billion/FILE

Safaricom’s CEO Bob Collymore said that there is room for this one-off special dividend of Sh27.5 billion due to the company’s cash position, and the significant retained earnings of Sh82 billion/FILE

NAIROBI, Kenya, Jul 26 – Safaricom shareholders will be paid Sh0.68 per share following a decision by the company’s board.

This is an additional dividend over and above the Sh0.76 per share for the year ended 31st March 2016 .

Book closure for the two dividends will hence total to Sh1.44 per share as at 2 September 2016 and will paid out on or prior to 1 December 2016.

Safaricom’s CEO Bob Collymore said that there is room for this one-off special dividend of Sh27.5 billion due to the company’s cash position, and the significant retained earnings of Sh82 billion.

“This is an additional dividend to what we expect to recommend at next years AGM for the year ended 31st March 2017,” he added in a statement.

The company’s shareholders comprises of Government’s holding of 35.0 percent, Vodafone’s 39.9 percent while 25 percent is floated at the Nairobi Securities Exchange (NSE).

Hence the government will take away Sh20.1 billion, Vodafone Sh23.04 billion while the rest will be distributed to the public.

The public shareholding includes companies such as Fidelity Management & Research Company which owns 0.99 percent, Genesis Investment Management LLP with 0.52 percent among others.

Big individual shareholders include investor John Kibuga who was Safaricom’s biggest individual investor as at 2015. Others include Capital Group Limited’s Chairman and business Magnate Dr Chris Kirubi, businessmen Peter Muthoka and Baloobhai Patel among others.

The announcement follows Safaricom’s Full Year 2016 results which had a net profit rising of 19.5 percent year on year to Sh38.1 billion.

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