The British American Tobacco (BAT) Board of Directors has approved an interim dividend of Ksh.3.50 per share for the year ending December 31, 2021.
The Interim dividend will be paid on September 16, 2021.
Further, the dividend is subject to withholding tax
The approval comes as BAT posted a 0.7 percent increase in its profits after tax in six months to June 30 from Ksh.2,679 million in 2020 to Ksh.2,698 million in 2021.
BAT attributes the results to the increase in recovery of volumes of sales coupled with the easing of COVID restrictions.
BAT’s gross revenue increased by 22 percent to Ksh.20.3 billion from Ksh.16.615 million during the same period in 2020.
High sales also increased BAT’s total cost of operations by 27 percent to Ksh.8.6 billion.
Additionally, cash generated from operations increased by Ksh.3.2 billion to Ksh.3.6 billion compared to the first quarter last year.