East Africa’s Telecommunications giant; Safaricom, has announced that it will be paying 74.92 billion Kenyan Shillings as its dividend payout for the 2019 Financial Year.
The dividend payout, will include 50.08 billion Kenyan Shillings for ordinary shares as well as 24.84 billion Kenyan Shillings in special dividends, bringing the total payout figure to 74.92 billion Kenyan Shillings as compared to 44.07 billion Kenyan Shillings in the 2018 financial year.
During the Annual General Meeting for Safaricom, its shareholders approved a total dividend of 1.87 Kenyan Shillings per share a figure which is 70% higher than last year’s 1.25 Kenyan Shillings per share.
The huge increase, is as a result of the telecommunications giant’s increased profits which even resulted in a special dividend, as last year, Safaricom did not have a special dividend payout.
The company’s investors, will enjoy their share of Safaricom’s 62.49 billion Kenyan Shillings in profits which will comprise of its retained earnings.
Safaricom’s profits rose from last year’s 55.29 billion Kenyan Shillings. The company’s Earnings Before Interest and Taxes (EBIT) also stood at 89.6 Billion Kenyan Shillings which is higher than last year’s figure of 79.2 billion Kenyan Shillings.
