FILE PHOTO | NMG
Equity Group #ticker:EQTY has cancelled its proposed dividend payout of Sh2.50 per share or a total of Sh9.4 billion, citing the need to conserve cash in the wake of the global Covid-19 pandemic.
In contrast, Co-op Bank #ticker:COOP demonstrated its confidence by bringing forward its Sh1 per share or Sh5.8 billion dividend, which was paid on April 23.
KCB Group #ticker:KCB is also progressing with the payout of its final dividend of Sh2.50 per share or an aggregate of Sh8 billion on or before July 3.
“Dear shareholder, please register to participate in the KCB Group AGM … You can also choose to receive future dividends via mobile money during the registration,” the lender’s shares administrator, Image Registrars, said in a communication to investors on Monday.
The bank said it will not meet its dividend payment date due to inability to hold an AGM even though the Capital Markets Authority has allowed listed firms to pay dividends even without shareholder approval.
