Old Mutual in fifth year of dividend drought

The UAP-Old Mutual Tower in Nairobi. FILE PHOTO | COURTESY

Old Mutual shareholders will miss out on dividends for the fifth year running after the insurer's net loss widened by 28 percent.

The board of directors said they do not recommend a dividend payment for the financial year 2022 following a Sh1.39 billion net loss linked to higher tax expenses.

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