Safaricom #ticker:SCOM is set to pay a total dividend of Sh56 billion after posting a 19.5 percent jump in net profit in the year ended March, boosting its shareholders' cash flow — including the government’s — in the face of the coronavirus crisis.
The Nairobi Securities Exchange-listed firm declared a payout of Sh1.40 per share to shareholders, up from Sh1.25 paid a year earlier. The growth was driven by higher revenue from its internet provision business and its financial services business, M-Pesa, as well as its first ever drop in operating expenses. This saw its sales rise 4.9 percent to Sh265.5 billion while net profit grew to from Sh62.49 billion to Sh74.7 billion, reflecting a growth of 19.5 percent.
