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Stanbic cuts interim dividend in race for capital to lift growth
Stanbic Bank Chief Finance and value officer Dennis Musau during the bank half year result announcement at Movenpick Hotel, Nairobi on August 10, 2023.
Stanbic Holdings Plc has cut its interim dividend payout by more than half despite its profit remaining flat as it seeks to boost capital and support growth.
The listed group, affiliated with Africa’s largest lender Standard Bank of South Africa, announced an interim dividend of Sh1.64 per share, down from Sh3.80 paid out at the same time last year.
