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Corporate

Safaricom announces Sh27bn special dividend

A past Safaricom AGM at Kasarani stadium.
A past Safaricom AGM at Kasarani stadium. Safaricom has declared a special dividend of Sh0.68 per share for the year ending March 31, 2017. PHOTO | FILE 

Safaricom has declared a special dividend of Sh0.68 per share for the year ending March 31, 2017 to be paid out on or prior to December 1, 2016.

This is an additional dividend over and above the Sh0.76 per share for the year ended March 31, 2016 that the board is recommending to shareholders at the annual general meeting on September 2, 2016.

"There is room for this one-off special dividend of Sh27.5bn due to the cash position of the company, and the significant retained earnings of Sh82bn,” Safaricom chief executive Bob Collymore said.

“This is an additional dividend to what we expect to recommend at next year’s AGM for the year ended 31st March 2017.”

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