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Safaricom’s Sh27.5bn dividend payout plan sparks share price rally
A past Safaricom AGM at Kasarani stadium. Safaricom’s decision to pay the extra dividend, which represents an interim payout for the current financial year, came after the firm paid all its debts in the wake of increased cash generation from its operations. PHOTO | FILE
Telecoms operator Safaricom’s decision to pay a special dividend has sparked a rally in its share price, and raised its market value to a new record of Sh769.2 billion during yesterday’s trading at the Nairobi Securities Exchange (NSE).
The listed company yesterday announced plans to make a one-off dividend payment of Sh0.68 per share amounting to Sh27.5 billion on December 1 to shareholders on its register as of September 2, setting off an entry stampede that rallied the share price for the second day in a row.
