254News

News Beyond News

Safaricom Ratifies Dividend of Ksh.0.92 Per Share

3 min read
Safaricom Ratifies Dividend of Ksh.0.92 Per Share

Safaricom CEO Peter Ndegwa

Spread the love

Safaricom shareholders ratified the final dividend of Ksh.0.92 per share with the dividend payout amounting to Ksh.36.8 billion.

The dividend will be payable on or before August 31, 2021, to the shareholders on the Register of Members as at the close of business on July 30.

Previously, Safaricom approved an interim dividend of Ksh.0.45 per share.

The interim was amounting to Ksh.18 billion which was paid to shareholders on March 31.

 The company exhibited resilience during the year to sustain overall performance despite the pandemic.

This was coupled with operational efficiency.

As well as improved asset utilization that boosted recovery especially in the second half of the year.

 Further, Safaricom recorded flat growth in the financial year ending March 2021 and expects to roar back into growth in 2021.

The AGM

The shares were approved on Friday last week during the company’s 13th Annual General Meeting (AGM).

During the AGM, Safaricom shareholders gave a nod for the setting up and incorporation of the Safaricom Telecommunications Ethiopia PLC.

A company that will begin operation in Ethiopia in January 2022.

It will allow Safaricom to subscribe for shares in the Voda family Ethiopia Company.

Vodafamily is a special entity in charge of the Ethiopian venture under the Global Partnership for Ethiopia.

The Global Partnership for Ethiopia which is registered in the Netherlands will be the operating company to be established in Ethiopia.

To spearhead the operator’s expansion into the country.

Speaking at the AGM, Safaricom Chairman Michael Joseph, expressed confidence in the company’s ability to build a top-quality mobile network that will enable Ethiopia to access a world-class array of digital services.

The board is committed to working with management to deliver value to our shareholders but, most importantly, to ensure we continue to be there for our customers, staff and the community, especially in this new phase

said Joseph.

Ethiopia PLC

Safaricom Chief Executive Officer Peter Ndegwa says entry into Ethiopia has brought to life the company’s dream to expand beyond Kenya.

We are proud to lead this partnership that will provide quality and affordable mobile and internet connectivity to enable more Ethiopians to access quality telecommunications services.

said Ndegwa

Ethiopia sealed the entry of Safaricom to its telecoms space in July by registering its new business unit.

The unit is dubbed Safaricom Telecommunications Ethiopia PLC.

The new unit has a nationwide license lasting 15 years.

And renewable is subject to the fulfillment of license obligations issued by the Ethiopian Communications Authority (ECA).

Safaricom, directly and indirectly, holds at least a 55.7 percent equity stake in each of the consortium companies in the Ethiopia venture.

Each of the consortium parties is set to become subsidiaries of Safaricom.