KCB Group Shareholders Approve Dividend Payout for FY2024
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Shareholders of KCB Group Plc have approved a total dividend payout of KSh 9.6 billion for the financial year ending December 2024, following a resolution passed at the company’s Annual General Meeting held in Nairobi on Thursday.
The approved final dividend of KSh 1.50 per share will be paid on or about May 23, 2025, to shareholders on record as of April 3, 2025. This adds to the interim dividend of KSh 1.50 per share disbursed on October 23, 2024, bringing the total dividend for the year to KSh 3.00 per share.
The payout marks a recovery in shareholder returns, with the Group reporting a total shareholder return of 97.2% in 2024, up from a negative return of 42.5% in 2023, driven by both dividend earnings and a 90% rise in the Group’s share price over the year.
KCB Group CEO Paul Russo, speaking at the AGM, said the strong performance was underpinned by operational resilience and a sharpened focus on regional expansion and innovation.
“The past year provided the Bank with an opportunity to showcase its resilience underscoring the strength of our fundamentals, strategic direction, and leadership depth,” said Russo.
“Our focus remains on leveraging the Group’s scale, capabilities and partners, to deepen financial inclusion and availing the relevant products and services that contribute to economic growth, sustainability, and shareholder value.” he added.
Read: KCB Group Posts Sh 16.53 Billion in Profits for Q1 2025
The dividend announcement follows KCB Group’s release of its Q1 2025 financial results, where it posted a profit after tax of KSh 16.53 billion, marginally higher than the KSh 16.48 billion recorded in Q1 2024. Total revenue grew by 2% year-on-year to KSh 49.4 billion.
KCB Group’s total assets increased to KSh 2.03 trillion, while customer deposits reached KSh 1.4 trillion. Customer loans and advances closed the quarter at KSh 1.02 trillion. The Group reported that 32% of its pre-tax earnings came from subsidiaries outside Kenya.
Operating expenses rose by 7.8% to KSh 22.7 billion, largely due to employee costs and continued investment in digital infrastructure.
Provisions for expected credit losses fell by 11.3%, supported by improved credit monitoring and collateral management practices. Despite these improvements, gross non-performing loans stood at KSh 233 billion, with a non-performing loan (NPL) ratio of 19.3%.
Return on equity stood at 23.3%, while total equity attributable to shareholders rose to KSh 297.1 billion, a 28.4% increase from the previous year.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.
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