Safaricom is set to pay an interim dividend of Sh298.1 billion equivalent to Sh0.64 per share.
The increase of revenue collection to Sh298.1billion from Sh264billion brings the total dividends for the year to Sh55.69billion in 2021 which represents Sh1.39 per share in respect of the year ended March 31, 2022.
Mpesa services, mobile data, fixed service and wholesale transit have driven growth that has led shareholders to take home proceeds from the profits.
This is after the Safaricom board recommended a final dividend of Sh0.75 per share amounting to Sh30.04billion which has brought the total payout of the year to Sh56billion.
During the year 2021, an interim dividend of Sh0.64 per ordinary share amounting to Sh25.64billion in a year 2021 was declared.
“Beyond growth this year, we are firmly on the course towards our journey of transitioning into a purpose-led technology company by 2025, we look forward to a great year of transforming the lives of our people and customers,” Safaricom CEO Peter Ndegwa, Safaricom said.
The annual general meeting that is scheduled to take place on July 29, 2022, will be presented with the final dividend in respect of the year ended March 31, 2022.
The telecom operator has a policy of paying out at least 80 per cent of net income as dividends.
Pressure from the Central Bank of Kenya (CBK) forced Safaricom to split its dividend payouts for the first-time last year in the quest to shield the weakening shilling when the telecommunications firm seeks dollars for repatriation to foreign investors, it emerged earlier.