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Safaricom Announces Ksh18 Billion Dividend To Shareholders

Peter Ndegwa
Safaricom CEO Peter Ndegwa. [PHOTO/ COURTESY]

Giant telco Safaricom has announced a Ksh18 billion dividend to investors for the financial year ended December 2020, equivalent to Ksh0.45 per share.

Announcing the dividend, Safaricom cited good financial performance and the need to support investors amid the Covid-19 pandemic.

The dividend will be paid on or about March 31 to shareholders on record as of March 5.

“This is in recognition of the company’s solid half-year performance and to support our shareholders during these difficult economic times occasioned by the Covid-19 pandemic,” the statement read in part.

Read: Safaricom Announces Reduction Of M-Pesa Transaction Charges

The government, which boasts of a 35 percent stake in Safaricom, will receive Ksh6.3 billion, while Vodacom Group Limited and Vodafone Group Plc will share a gross payout of Ksh7.2 billion for their combined 40 percent stake.

Safaricom recorded a Ksh33 billion profit in half-year financial results to September 2020, a six percent drop as compared to the same period last year.

Announcing the results, the telco attributed the drop to the zero-rating of M-Pesa transactions below Ksh1,000 and a drop in voice calls.

M-Pesa recorded a revenue of Ksh35.9 billion as compared to Ksh42 billion similar period last year, a year-on-year (YoY)decline of 14.5 percent.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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