Kenya Electricity Generating Company PLC (KenGen) has paid a dividend of Ksh.545, 219, 739.63 to 190,784 shareholders, constituting 30 per cent of the power generator’s shareholder base.
- The payout is part of the approved Ksh.1.978 billion dividend allocation for the fiscal year ending June 30, 2023, marking one of the highest dividends distributed by KenGen since its 2016 Rights Issue.
- The dividend disbursement follows the company’s profits after tax, amounting to Ksh.5.2 billion in the last financial year.
- KenGen’s has made strategic moves towards diversification in geothermal consultancy and also runs a green energy park in Olkaria.
During the AGM, KenGen Board Chairman, Julius Ogamba, attributed the company’s profit margin to strong business fundamentals, an innovation-driven culture, and a resilient expansion strategy.
“We understand the central catalytic role energy plays in our country’s economic development and to this end, we remain focused on our 2024 and long-term strategic priorities to not only meet the growing energy demand but also offer green energy solutions to Africa,” KenGen Managing Director and CEO, Peter Njenga said.
KenGen Declares KES 1.32 Billion Dividend Payout to Shareholders – Kenyan Wallstreet
