Diamond Trust Bank will pay shareholders its most significant dividend after posting a profit of KSh6.79 billion on higher funded and non-funded income, translating to a 54 per cent jump in net earnings.
Shareholders will receive KSh1.4 billion in dividends, representing a 66 per cent higher payout than in 2022.
The bank’s total operating income surged 21.76 per cent to KSh31.9 billion, driven by net interest and non-interest income growth.
DTB Board of Directors has recommended a final dividend of KSh5 per share for 2022 compared to the previous year’s KSh3 per share.
“Following this strong performance, the board has proposed a dividend of KKSh1.4 billion, or Sh5.00 per share, reflecting a 67 per cent growth in the dividends paid last year,” the lender said in an emailed statement.
The dividend will be distributed around June 15 to shareholders on record as of May 12.
DTB is implementing a rapid and aggressive branch expansion strategy. The expansion will increase DTB’s footprint in East Africa to over 150 branches by the end of 2023.
DTB has also been pursuing an ambitious digital transformation journey since 2022. It is anchored on building capacity, fostering partnerships with fintech and other tech-enabled entities, and offering innovative and diverse digital solutions to its growing customer base.
Group Chief Executive Nasim Devji said the lender is confident that the investments in its traditional branch footprint and digital transformation journey will deliver value to its customers and shareholders.
“We believe that the investments we are making in our people, branch and digital platforms will deliver not just convenience and ease of access to our customers but also provide them with innovative value propositions which speak to their needs,” said Devji.
