Jubilee Holdings releases a total dividend payout of Sh652.3mn - Capital Business
Connect with us

Hi, what are you looking for?

Jubilee Holdings offices /COURTESY

Kenya

Jubilee Holdings releases a total dividend payout of Sh652.3mn

NAIROBI, Kenya, Jul 23 – Jubilee Holdings Limited has announced a total dividend of Sh652.3 million of Sh9 per share for the financial year ended December 2019.

The final dividend payout of Sh579.8 Million of Sh8 per share, which will be released tomorrow, will be a pleasant relief to many shareholders who have borne the negative effects of COVID-19.

Commenting on the move, Jubilee Holdings Limited Group Chairman Nizar Juma noted that since going public the company has always paid a dividend to its shareholders and to date has never paid a dividend lower than the previous year.

“We are proud that Jubilee Holdings has demonstrated its solid financial ground and stood by its shareholders, and not lowered the dividend payout, despite the current difficulties caused by the COVID-19 Pandemic,” Juma added.

JHL has also advised that it has rescheduled its 2020 AGM to a later date this year after the Company sought and obtained approval from the Business Registration Services. The postponement has been occasioned by the challenges posed by the COVID-19 pandemic with regard to the physical conduct of Annual General Meetings.

As part of its business recovery plan during this period, Jubilee Holdings has  enhanced its distribution channels with the recent roll out of its fully digitized online platforms to allow its customers to continue to purchase or renew their motor, medical and travel insurance products conveniently and with policies delivered electronically.

Recently, Jubilee Holdings Limited (JHL) announced the purchase of a further 9.44 percent interest in Bujagali Energy Limited (BEL) valued at US$ 45 million (Sh4.8 Billion) from the technical partners, SN Power. This is part of the group’s efforts to continue to diversify into investments that are hedged in US dollars to protect capital and provide better yield and a high return.

Advertisement

More on Capital Business

Kenya

NAIROBI, March 28 (Xinhua) — Kenya on Thursday launched the national research repository for all research output undertaken in the country. Beatrice Inyangala, principal...

World

TOKYO, March 29 (Xinhua) — The unemployment rate in Japan increased in February from a month earlier, the government said in a report on...

Investments in Africa

NAIROBI, Kenya, Mar 28 – BURN Manufacturing (BURN), a carbon project developer, has announced the completion of a follow-on carbon project investment from Key...

World

LONDON, March 28 (Xinhua) — The gross domestic product (GDP) of the United Kingdom (UK) fell by an unrevised 0.3 percent in the last...

Top Story

NAIROBI, Kenya, Mar 28 – A total of 28 insurance companies dominate the list of abuse of buyer power cases in Kenya, the latest...

Aviation

NAIROBI, Kenya, Mar 28 – Skyward Express on Thursday unveiled its first direct flights from Jomo Kenyatta International Airport (JKIA) to Moi International Airport,...

Kenya

NAIROBI, Kenya, Mar 28 – Asset finance solutions provider Watu Credit has welcomed the publication of the draft national e-Mobility Policy. The company has...

Kenya

NAIROBI, Kenya, Mar 28 – The climate crusader Pan Africa Climate Justice Alliance (PACJA) has faulted the United Nations’ Santiago Network on Loss and...