Safaricom plans to pay Sh30bn dividend August

Safaricom headquarters in Westlands, Nairobi. PHOTO | DENNIS ONSONGO | NMG

Safaricom Plc will pay its final dividend of Sh30.04 billion or Sh0.75 per share to shareholders by August 31, the telco disclosed in its notice for the upcoming annual general meeting.

The Nairobi Securities Exchange-listed firm also said it will close its books for the dividend on July 29 when it will hold the AGM.

The two dates for the final dividend for the year ended March had previously not been communicated.

“The dividend will be payable on or before August 31, 2022, to the shareholders on the register of members as at close of business on July 29, 2022,” the notice reads.

The company’s shareholders had received an interim dividend amounting to Sh25.64 billion or Sh0.64 per share in March or an equivalent of 0.64 per share.

The total payout for the year will be Sh1.39 per share or Sh55.6 billion, slightly higher than Sh1.37 per share (Sh54.8 billion) paid for the prior year.

Some of the biggest beneficiaries from the impending payout of the final dividend include the government with a stake of 35 percent stake.

The government will receive Sh10.5 billion while multinationals Vodacom Group and Vodafone Plc will get Sh12 billion on their combined stake of 40 percent in the company.

Safaricom has a policy of paying out at least 80 percent of its net earnings.

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