Absa Bank Kenya has announced a 14.8% increase in its total dividend payout to shareholders for the year ending December 31, 2023.
The dividend translates to a total payout of Sh8.4 billion, reflecting the bank’s improved net profit.
As a result, shareholders will receive a higher dividend per share of Sh1.55, up from Sh1.35 per share in the previous year.
The bank attributed the dividend increase to its solid profit growth, reaching Sh16.4 billion in 2023.
Chairman Charles Muchene emphasized the importance of sharing the bank’s success with shareholders.
“Based on improved profitability, the Board has proposed a final dividend of Sh1.35 per share, bringing the total dividend in 2023 to Sh1.55 per share,” he stated.
CEO Abdi Mohamed credited the bank’s strong performance to the successful execution Absa’s key strategies.
He committed to “continue driving and executing its strategy, taking into account all stakeholders.”
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