Kenya: Absa Bank to increase dividend payments after Sh14.6 billion profit

By InstinctBusiness Mar 15, 2023 0

Absa Bank Kenya has raised its dividend pay out to a record of Sh1.35 per share or a total of Sh7.3 billion as interest income boosted its earnings in the year ended December.

Absa Bank Kenya increased its dividend pay out to a record Sh1.35 per share, or Sh7.3 billion overall due to increased revenues from interest income in the fiscal year that concluded in December.

A final dividend of Sh1.15 per share, payable on May 25 to shareholders of record as of April 28, was declared by the lender. This is in addition to the Sh0.2 interim payment that was made last year.

The total dividend for the review period has been raised to 22.7% from Sh1.1 per share in the year before.

In a statement released by the bank, “The bank’s Return on Equity grew to 23% in the period under review, having improved from 19.3% the same period last year,”

“The improvement in returns and profitability supported a total dividend per share of Sh1.35, an increase of 23% over the previous year.”

Absa raises shareholder dividends to record levels in the review period, joining other lenders with NSE listings including Standard Chartered Bank Kenya and Stanbic Holdings.