Scangroup to Pay KSh3.4bn in Special Dividend

CEO Bharat Thakrar and the Chief Finance Officer, Mr Satyabrata Das facing allegations of irregularities.

Scangroup CEO Bharat Thakrar

WPP Scangroup says it will pay shareholders a special dividend of KSh3.45 billion or Sh8 per share in August.

The funds are proceeds realised from the sale of its shareholding in Kantar Business in Africa.

“The board of WPP Scangroup Plc is pleased to announce the declaration and payment of a special interim dividend of KSh8 for every ordinary share held, subject to withholding tax, where applicable,” the company said in a market update.

“The special interim dividend will be payable to shareholders on the company register at the close of business on July 28, 2020. The dividend declared will be paid within 30 days from the closing date of the register.”

Initially, it had proposed to pay the KSh4.7 per share (KSh2 billion) special dividend from the proceeds. The rest of the funds will be used in expansion and capital needs.