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Central Bank, CMA differ over banks dividend order
Central Bank of Kenya Governor Patrick Njoroge and Capital Markets Authority acting CEO Wycliffe Shamiah (right). The two regulators have differed on how companies should pay dividends. FILE PHOTOS | NMG
The Central Bank of Kenya (CBK) and Capital Markets Authority (CMA) have issued conflicting directives on how companies should pay dividends following the freeze on Annual General Meetings (AGMs), causing confusion over how bank shareholders will share profits in the wake of the coronavirus restrictions.
Both regulators agree that AGMs must be postponed in the wake of calls to shun large gatherings for fear of spreading infections which have claimed 14 lives and infected 270 people in Kenya.
