Kenya’s Safaricom has declared a special dividend of Sh0.68 per share for the year ending March 31, 2017 which will be paid out on or before 1st December, 2016.
The Telco will be paying Sh0.76 per share for the year ended March 31, 2016 before the company’s the annual general meeting scheduled for 2nd September, 2016.
“There is room for this one-off special dividend of Sh27.5bn due to the cash position of the company, and the significant retained earnings of Sh82bn,” Safaricom chief executive Bob Collymore told the Business Daily.
“This is an additional dividend to what we expect to recommend at next year’s AGM for the year ended 31st March 2017.”
Share Price
Safaricom recorded an all-time high of Kes.19.20 before easing back to close the day at Kes.18.85 with 19.3M sharesexchanged. This attributed to the announcement of the Special Dividend.
