Shareholders approve Sh9.6b KCB dividend

KCB Group shareholders have approved a Sh9.6 billion total dividends payout for the 2024 financial year at an annual general meeting in Nairobi on Thursday.

The dividend will be paid on May 23, 2025 to the shareholders on the members’ register at the close of business on April 3, 2025.

This together with an interim dividend of Sh1.50 per share paid on October 23, 2024, brings the total dividend paid for the year to Sh3.00 per share, equivalent to Sh9.6 billion.

“Amidst a challenging operating environment, KCB Group remains committed to supporting businesses, individuals, and communities to weather the challenges and, where possible, provide opportunities for growth through its regional footprint and diverse products, services and solutions,” Group chairman Joseph Kinyua said during the AGM.

This came as the lender reported a profit after tax of Sh16.53 billion in the first quarter of the year ending March 2025, compared to Sh16.48 billion reported a similar period last year.

Total revenues rose 2 per cent to Sh49.4 billion, while the Group’s balance sheet closed the period at Sh2.03 trillion, from Sh1.99 trillion on the back of a stable loan portfolio. The profit before tax contribution by the subsidiaries outside KCB Bank Kenya improved to 32 per cent, resulting from the Group’s focus on ="https://www.standardmedia.co.ke/amp/business/business/article/2001516031/kcb-cuts-rates-in-boon-for-borrowers">deepening regional scale<.

“Based on our performance for the year and our commitment to providing our shareholders with long-term sustainable value from their investment, the Group proposed the payment of interim and final dividends, while ensuring adequate capital retention for growth and regional expansion,” Said KCB Group CEO Paul Russo.

The bank also said the ongoing sale of National Bank of Kenya (NBK) to Access Bank is at the tail end. In April, KCB received regulatory approval from the Central Bank of Kenya to progress the transaction.

The Cabinet Secretary for the National Treasury and Economic Planning also approved the ="https://www.standardmedia.co.ke/business/business/article/2001518680/kcb-clocks-sh532b-in-green-loans-as-climate-finance-race-hots-up">transfer of certain assets and liabilities< of NBK to KCB Bank Kenya pursuant to section 9 of the Banking Act.

In 2024, the bank disbursed green loans worth Sh53.2 billion and screened loans worth Sh513 billio under the Environmental and Social Due Diligence (ESDD) tool.