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Safaricom shareholders have authorized a dividend of Sh0.65 per share, totaling Sh26.04 billion for the fiscal year ending March 31, 2024.
This follows an interim dividend of Sh0.55 per share, for a total of Sh22.04 billion, paid in March 2024. The company’s total dividend payout for the year is currently Sh1.2 per share, totaling Sh48.08 billion.
“In the financial year under review, the business displayed significant resilience in producing outstanding growth in both our top and bottom lines. This enabled us to achieve a major milestone, attaining, in our Kenyan business alone, earnings of more than USD1 billion before tax and interest,” said the company.
Despite the company’s solid financial performance, Safaricom reports that the year was defined by a hard economic environment in both Kenya and Ethiopia due to high interest rates, inflation, and currency changes, which impacted disposable income and business operations.
The telco, on the other hand, radiated confidence, emphasizing its commitment to creating value for shareholders through strategic investments and strong plan execution. The company expects to break even in Ethiopia by the end of its fourth year of operations.
Also Read: Safaricom Explains Why There Are Slow Internet Speeds Across the Country
