KCB Group, under the leadership of CEO Paul Russo, is back to rewarding its shareholders with dividends after an 87 percent surge in net profit for the first half of 2024.
The bank reported profits of Sh29.1 billion ($224.8 million), an increase that has led to the reinstatement of a dividend payout of Sh1.5 (USD 0.012) per share, totaling Sh4.8 billion ($37.1 million). Shareholders on record as of Sept. 12 can expect their payouts on Oct. 30.
A welcome return to dividendsLast year, KCB made the tough decision to skip dividend payments for the first time since 2002, focusing instead on strengthening its financial base.
But this year's strong financial performance has changed that. The bank's ability to bounce back and offer dividends again shows its confidence in the future. It's a move that's likely to be well-received by investors who've been waiting for this moment.
