NAIROBI, Kenya, Dec 4 – KenGen has increased its dividend following a strong financial year, with shareholders approving a payout of Sh0.90 per share at the company’s 73rd Annual General Meeting in Nairobi—up from Sh0.65 last year.
The higher dividend comes after the power producer reported a 54 percent rise in profit after tax to Sh10.48 billion for the year ended June 30, driven by lower costs, improved forex movements, and growth in non-electricity revenue.
Shareholders were told revenue stood at Sh56.1 billion, while income from diversified activities jumped 235 percent, boosted by geothermal consultancy work in Eswatini and other regional markets. Operating costs fell 11 percent to Sh35.1 billion as the firm tightened its expenses.
KenGen, which supplies about 60 percent of Kenya’s electricity, generated 8,482GWh from its installed capacity of 1,786MW during the year. Rising national demand also supported performance, with peak usage hitting a historic 2,418.77MW in November.
Chairman Alfred Agoi said the dividend increase mirrors the utility’s stronger financial footing and ongoing execution of its strategy, noting: “This dividend uplift reflects solid results and our commitment to delivering value to shareholders.”
Managing Director Peter Njenga said the company remains focused on expanding renewable capacity and strengthening efficiency across its operations.
“Our performance underscores KenGen’s positioning as a regional renewable energy leader,” he said.
The company is progressing its G2G 2034 strategy targeting 1,500MW of new renewable generation and 500MWh of storage. It is also eyeing participation in the planned 700MWh High Grand Falls hydropower project and expanding geothermal consultancy work in Ethiopia, Djibouti, Eswatini, Ngozi and Bhutan.
KenGen enters 2026 with a 252MW project pipeline, including the Olkaria I rehabilitation, the Seven Forks Solar project, and expansion of the Gogo power plant in Migori County.
