Safaricom to pay sh 56B to Shareholders

Safaricom PLC CEO Peter Ndegwa
From Left; Outgoing chairman Nicholas Ng'ang'a, Safaricom CEO Peter Ndegwa and incoming chairman Michael Joseph 

Safaricom have announced that the company will pay shareholders a total of ksh 56.09 billion as dividends for the year ending in March 2020.

During the 12th Annual General Meeting held on Thursday virtually, shareholders approved the amount will be shared at ksh 1.40 per share. This is a ksh 0.15 increase from last year's ksh 1.25 pay per share approved.

Out of the ksh 56.09 billion approved to be shared as dividends to shareholders, the government of Kenya is set to receive ksh 19.63 billion as one of the shareholders.

During the same meeting, former Safaricom CEO, Michael Joseph was named the next Chairman of the telco's Board of Director replacing the outgoing and long serving chairman, Nicholas Ng'ang'a
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