Shareholders of the Nairobi Securities Exchange (NSE) Plc have approved a first and final dividend of KSh 0.08 per ordinary share for the year ended December 2019. The dividend is down by KSh 0.41 from 2018’s dividend of KSh 0.49. The owners approved the dividend for all members in the company register at the close of business of 9th July 2020. The company held a virtual Annual General Meeting (AGM) on Thursday, 9th July 2020.
In the Financial Year ended 31st December 2019, the NSE’s net earnings dropped by 58% to Ksh 80.1 million compared to 2018’s Ksh 190.7 million. The drop was a result of a 9% decrease in revenues emanating from a 12% decline in equity trading turnover.
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In the meeting, shareholders reappointed Messr PricewaterhouseCoopers LLP as its auditors for the Financial year ending 31st December 2020. NSE Plc shareholders also approved the directors’ remuneration.
Other resolutions from the AGM include the reelection of the Samuel Maina Njuguna as an independent non-executive director. Shareholders re-elected Bob Karina and Michael Turner to the company’s board.
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NSE 2020 Outlook
The NSE anticipates cautious investor activity for the medium term as a result of the ongoing COVID-19 pandemic. Still, the bourse has confidence, given that local investors are taking up more buying positions.
NSE PLC looks to increase listings, through engaging governments to encourage privatization of government-owned companies. The bourse also intends to accelerate innovations, to increase its retail footprint. The company is also looking to partner with colleges and universities to offer data training in a bid to expand its products.