Standard Chartered Bank Kenya Postpone Dividends Payment

StanChart Kenya to Cut 200 Jobs as Virus Crisis Hits Profits

Standard Chartered Bank Kenya investors will have to wait a little longer to get their dividend payments.

According to StanChart its dividend of Ksh 15.00 will not be paid on schedule.

“The dividend was to be paid to shareholders registered on the Company’s register as the close of business on April 27 April 2020.”

According to the lender, payment will be made after shareholders’ approval by shareholders at the Annual General Meeting.

“We are monitoring the Covid-19 pandemic which continues to pose a challenge even as we work towards determining the most suitable timing and manner for holding the 34th AGM which remains postponed.

Consequently, the company will not be in a position to pay the dividend on 28 May 2020 as proposed and announced through the NSE as it would not have been approved by shareholders at an AGM as required,” Nancy Oginde, the Company Secretary said on behalf of the Board of Directors.

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On the other hand, Equity Group and NCBA bank have withdrawn their proposed dividend payments to their investors citing market uncertainty.

NCBA cancelled its earlier dividend declaration of KSh1.50 per share ( KSh2.2 billion) and replaced it with a bonus share of one for every 10 held.

Equity Group has withdrawn its proposed dividend payout of KSh2.50 per share or a total of KSh9.4 billion.