Kenyan listed banks are gearing up to reward their shareholders handsomely, with a cumulative payout of Ksh 63.08 billion for the financial year 2023 expected by this coming Friday, the 28th. This exciting news follows a period of strong performances by the lenders, with most reporting significant growth in net profits.
Equity Group Holdings, the regional banking giant, leads the pack with a Ksh 15.1 billion payout. The bank will maintain its dividend per share at Ksh 4, translating to a rewarding dividend yield of 11.9% for investors.
Standard Chartered Bank Kenya is set to pay a total of Ksh 10.96 billion, reflecting a significant 31.8% increase from the previous year. Shareholders can expect a higher dividend per share of Sh 29, compared to Sh 22 in 2023.
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Co-operative Bank will disburse Ksh 8.8 billion in dividends, maintaining its dividend per share at Sh 1.5. This comes despite a healthy 5.2% growth in net profit to Sh 23.2 billion for the financial year. The top shareholder, Co-op Holdings Co-operative Society Limited, will receive Sh5.68 billion on its 64.56 percent stake.
Absa Bank shareholders are in for a treat, with a total payout of Ksh 8.42 billion planned, representing a 14.8% increase year-on-year. The bank declared a final dividend of Sh 1.35 per share, adding to an interim payout of 20 cents per share. This brings the total dividend per share to a new record of Sh 1.55.
NCBA Bank will reward its shareholders with Ksh 7.83 billion, reflecting a promising 11.8% increase compared to the previous year. The dividend per share has also been raised to Ksh 4.75 from Ksh 4.25 in FY 2022, following a remarkable 56.2% jump in the bank’s net profit. The dividend payout of Sh4.75 a share comes after the lender added a Sh3 final pay to the interim Sh1.75 declared in September last year.
Stanbic Bank shareholders are set to receive a total of Ksh 6.07 billion, a 22% increase from the previous year. The bank is raising the dividend per share to a record Sh 15.35 from Sh 12.60, marking the highest-ever payout in the history of the lender. The raised dividend per share will see shareholders pocket a total of Sh6.07 billion or 49.9 percent of the net earnings compared with the previous year when it distributed Sh4.98 billion or 55 percent of its profit.
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I&M Bank will pay out Ksh 4.22 billion in dividends, reflecting a 13.3% increase year-on-year. The dividend per share has been increased to Sh 2.55 from Sh 2.25 in FY 2022. This is an increase in dividends for the third straight year. The latest payout equals the per-share distribution that was made by I&M in 2019.
DTB Bank will distribute Ksh 1.68 billion in dividends, reflecting a 20% increase from the prior year. The dividend per share has been raised to Sh 6.00 from Sh 5.00. The dividend represents a payout of 24.3 percent of the net income in the review period, rising from 23 percent in the prior year when the lender posted a net profit of Sh6 billion.