Family Bank on Friday said its shareholders have approved a final dividend of Ksh.0.83 per equity share for the fiscal year 2021 amounting to Ksh.1.1 billion.
In the year ended December 31, 2021, the banks’ pretax profit surged by 131.6 percent to Ksh.3.3 billion.
“It is on the back of our strong 2021 full year performance and improved liquidity that as a Board we approved this dividend pay-out. I would like to thank our shareholders for their patience, understanding, and continued trust in our decisions over the years as we strike balance between return and capital maximization,” Family Bank Chairman Dr. Wilfred Kiboro told the shareholders during its 15th Annual General Meeting.
Family Bank CEO Rebecca Mbithi said the Bank remains focused to optimally gaining size and scaling up efficiently.
“Our overall objective as a Bank has been to position the Bank for the future in order to deliver a strong value proposition not only for our customers but for our shareholders. This is backed by our aggressive five-year strategy as we build business operations systems towards Tier 1 status,” she said.
In June 2020, Family Bank shareholders approved a Ksh.0.24 dividends payout per ordinary share, a total of Ksh.308.9 million.