Safaricom will pay an interim dividend of KSh 0.58 per share, or KSh 23.42 billion, to shareholders due to lower earnings from six months to September 2022.
The interim dividend will be payable by March 31 to shareholders on its register as at the close of business on March 15.
Previously, Safaricom paid KSh 0.64 per share, equivalent to KSh 25.64 billion.
Safaricom’s half-year Net Income to September was Ksh 33,472.2 million, compared to Ksh 37,172.2 million a year ago. Its net profit for the period came to KSh33.5 billion because of macroeconomic effects and a reduction in mobile termination rates.
“Given the impact of the MTR rates from 99 cents to 58 cents, a slowdown in business operations due to the election period, increase in excise duty on sim cards and mobile phones and a failed rain season leading to more economic hardship for the country Safaricom has done well to deliver solid revenue growth and a net income that is within the expected range,” said Safaricom chief executive officer Peter Ndegwa during the announcement of the results.
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