The Nation Media Group has resumed dividend payments with a proposal to pay Ksh1.50 (0.013) per share. This is after the group recorded a net profit of Ksh493.1 million in the year ended December 2021.
The Directors have resolved to recommend a dividend of Kshs.1.50 per share (60%) for the year, subject to approval by the shareholders at the AGM. No interim dividend was paid during the year. #NMGFY2021 pic.twitter.com/LwrmE3FG2T
— Nation Media Group (@NationMediaGrp) April 20, 2022
“2021 was a very challenging year. We were still experiencing the impact of Covid-19 but our focus was on recovery while still pursuing transformation agenda,” NMG chief executive Stephen Gitagama said.
The Group experienced an upward trajectory relative to 2020, following the shocks experienced as a result of the Covid-19 pandemic in 2020. The easing of economic restrictions resulted in a positive impact on our business performance #NMGFY2021 pic.twitter.com/EyFiQjP7Dz
— Nation Media Group (@NationMediaGrp) April 20, 2022
The Group’s current share price is Ksh 22.00. NMG closed its last trading day (Tuesday, April 19, 2022) at Ksh 20.90 per share on the Nairobi Securities Exchange (NSE), recording a 2.8 percent drop from its previous closing price of Ksh 21.50.
Nation Media began the year with a share price of Ksh 18.45 and has since gained 13.3 percent on that price valuation, ranking it fifth on the NSE in terms of year-to-date performance.
“Going forward bulk of the revenues will come through going digital. The legacy media like print will still remain for a few years but distribution will be mainly digital. We hope to reduce reliance on print gradually to not more than 25 percent,” NMG chairman Wilfred Kiboro said.
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