Shareholders of Standard Chartered Bank Kenya (SCBK) approved the listing of 34,551,057 additional shares at the Nairobi Securities Exchange (NSE).
The shareholders authorised directors of the company to use KSh 171,755,285 of the retained earnings to pay for the additional ordinary shares priced at KSh 5.00 each. The new shares will be issued as bonus shares to shareholders at the rate of 1 for every ten ordinary shares held.
Those on the firm’s register at the close of business on 27th April 2020, will be eligible for the bonus. Shareholders of SCBK approved the payment of a final dividend of KSh 84,690,411 to be paid on or after 24th July 2020.
The meeting also resolved to approve the appointment of Ernst & Young LLP as auditors of SCBK and allowed directors to fix their remuneration.