Co-op Bank raises dividend by half as profit hits Sh22 billion

Co-operative Bank has increased its dividends by half as net profit for the year ended December 2022 rose to Sh22 billion on the growth of non-funded income.

The lender recommended a dividend of Sh1.50 per share, a 50 percent increase on the Sh1 paid out last year, a major boost to the co-operative societies, the bank’s majority shareholders.