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Car & General share price gains 10pc on higher dividend payout
Car and General Sales Executive Tom Mburu (second right), shows the TVS Wego motorcycle to riders during the Boda Boda Safety Awareness Day. PHOTO | POOL
The Car&General #ticker:CGEN share gained 10 percent on Thursday after the company announced it is quadrupling its dividend payout to Sh3.20 a share on top of a bonus share issuance.
The NSE’s #ticker:NSE only listed automobile firm opened trading at Sh30.60 on Thursday — having shed 9.6 percent on Wednesday — but quickly reversed the losses to close the day at Sh33.70 on the back of the positive dividend announcement that will see shareholders take home a cumulative Sh128.3 million.
