NCBA Group board has announced a varying statement concerning how they'll share dividends to the companies shareholders during this devastating period caused by Coronavirus pandemic.
Previously the board approved giving ksh1.50 per share held by a shareholder and was to happen on 23rd April 2020 but due to the deteriorating economic conditions as a result of the COVID-19 outbreak, the bank will need to keep more cash to help customers and the communities it operates in.
In this regard, NCBA Group has opted to give stock dividends (Bonus Issue) instead of cash dividends to its shareholders subject to approval by the Capital Markets Authority (CMA).
The Bonus Issue will be one (1) share for every ten (10) shares held by a shareholder.
The stock dividends will be given to only registered shareholders as of the proposed date being 12th May 2020 at the close of business.
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