Williamson Tea shareholders set for Sh50 per share dividend

What you need to know:

Williamson Tea Holdings owns 39.56 per cent of Kapchorua Tea, another listed tea grower.

Negotiations for sale of Williamson House began in the financial year ended March 2011, and are captured in the company’s 2010 annual report.

Listed agricultural firm Williamson Tea Kenya has declared an interim dividend of Sh50 per share for the year ending March 31 2012, citing favourable financial performance of the company.

In a notice to the Nairobi Stock Exchange on Wednesday, the company's Board of Directors said shareholders shall be notified on the exact date of payment on Friday through the press.

In September 2011, the firm sold its former headquarters office block along Ngong Road for an estimated Sh500 million in a deal that was to see shareholders earn a special dividend.

According to the company managing director, Alan Carmichael, proceeds from the transaction were to be paid out to shareholders in the form of a special dividend in the current financial year.

Its head offices are now housed at the Karen Office Park along Langata Road as a tenant.

Negotiations for sale of Williamson House began in the financial year ended March 2011 and are captured in the company’s 2010 annual report.