KenGen’s no dividend ends near decade of shareholder payouts

Electricity generator KenGen will not pay its shareholders a dividend for the first time since the company went public in 2006, marking a departure from a near decade-long tradition.

The State-controlled power producer declared the dividend drought after its net profit for the year to June dropped 41 per cent to Sh6.7 billion, hurt by the absence of a tax credit the company enjoyed a year ago.