I&M Holdings shareholders approved a first and final dividend of KSh 2.55 per share during the recent Annual General Meeting (AGM) held on 26th June. The group paid the dividends amounting to KSh 2.1 billion to shareholders who were in the company’s register by 8 June 2020.
“That the payment of a first and final dividend of KSh 2.55 per share amounting to KSh 2,108,367,382 for the year ended 31st December 2019 is hereby approved,” reads an extract of shareholders resolution seen by The Kenyan Wallstreet.
Last year, I&M Holdings recorded a net profit of KSh 10.8 billion, up by 27% from KSh 8.5 billion in 2018. Most of the profit came from the Kenyan business, its biggest market worth KSh 287.2 billion.
Shareholders of the group also reelected Vincent De Brouwer, Rose Wanjiru Kinuthia, Daniel Ndonye, Suresh Bahgwanji, Alice Nyambura Kogia and Michael Turner as directors, following their retirement. Further, shareholders chose to retain KPMG as the company’s auditors.
In the AGM, the shareholders of I&M also resolved that the board will hold discretion in determining whether future meetings will take place via “electronic or other communication facilities that permit all those entitled to be present to participate in the meeting.”