KCB cuts dividend by a third as profit hits Sh40bn

KCB Group has cut dividends by a third on DRC Congo entry costs despite the net profit rising 19.5 percent to Sh40.8 billion in the financial year that ended in December.

The lender’s board is proposing a final payout of Sh1 per share —being equal to January’s interim payout— bringing the combined payout to Sh2 per share or a total of Sh6.4 billion.