KenGen has announced plans to pay a dividend of 10 per cent or Ksh 0.25 per ordinary share of Ksh2.50 for the year ended June 30, 2019, subject to approval in the Annual General Meeting to be held on November 3, 2020. If approved, the dividend will be paid, less withholding tax where applicable on or about 17 December 2020.
This will see shareholders receive Ksh1.65 billion dividend payout which will be lower that the Ksh2.64 billion payout translating to Ksh0.40 per ordinary share paid in 2018. During the year ended June 2019, the Company’s energy sales grew from 7,989 GWh in 2018 to 8,277 GWh.
KenGen had been postponing the AGM due to the delay in appointment of the Auditor General. The auditor general gave KenGen’s financials a clean bill of health on August 31, 2020, prompting the power generator to call for the AGM.
Other agenda in the AGM include the election of auditors, directors and amendment of the articles of association to allow for holding of electronic meetings. The AGM will be held electronically with registration opening on 9 October and will close on 31 October at 5 pm.