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NMG issues Sh1.50 dividend as govt debt cuts half-year profit

Friday, August 17, 2018 — updated on December 10, 2020 - 4 min read

Nation Media Group chairman Wilfred Kiboro (left) and CEO Stephen Gitagama during an investors briefing for the 2018 half-year financial results at the Stanley Hotel in Nairobi, August 17, 2018. PHOTO | SALATON NJAU | NMG

By CONSTANT MUNDA

Correspondent

Nation Media Group #ticker:NMG shareholders are set to receive an interim dividend payout of Sh1.50 per share for the first half of the year, which was adversely affected by the high outstanding government debt that cut into the company’s profit.

The Government Advertising Agency (GAA) owes the Nation Media Group (NMG) Sh856 million in unpaid advertisement revenue, the company said when releasing its half year financial performance.