KCB to pay Shareholders ksh 11 billion

KCB Group board has approved ksh 11 billion to be given to registered shareholders as dividends payout this year.

KCB Group chairman, Andrew Wambari told shareholders that despite tough business environment last last year in 2019, KCB Bank generated income for its shareholders.

“The crisis has seen the world confront its biggest health crisis this century. Our thoughts remain with the individuals and communities affected by the pandemic. We as recognize that our actions during this pandemic are essential in keeping our economies across the region going. We have incorporated guidelines provided by the Government and adopted a raft of measures to cushion our staff, customers and stakeholders from the effects of the disease” he said.

The dividends payout is scheduled to happen on or before July 3rd 2020 this at ksh 3.50 per share to all registered shareholders as of 27th April.

KCB Group CEO, Joshua Oigara said due to the ongoing tough economic environment, business is likely to subdued in the coming next six months of the year.

“With the likely continuation of the crisis into the currently unforeseeable future, we anticipate and expect that the ability of some customers to service their loans will be impacted, there will be reduced demand for credit and this may impact our business performance for the remainder of the year,” he said.

The CEO Joshua Oigara again added that;

“The organization has prepared itself to operate under these adverse circumstances to the benefit of our customers and shareholders. We have therefore taken measures to conserve our capital, manage costs and keep a keen eye on the banks liquidity.”

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