The Board of Directors of NCBA Bank and Diamond Trust Bank (DTB) have announced the payment of dividends after recording an after-tax profit of Ksh17.83 billion and Ksh7.64 billion, respectively, for the year ended December 31, 2024.
In the audited financial results, the NCBA Bank recorded a Ksh21.9 billion profit before tax.
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The current tax stands at Ksh2.2 billion, while the deferred tax is Ksh1 billion, totaling Ksh2.92 billion.
The bank’s board has resolved to recommend the payment of a final dividend to the Shareholders for approval during the forthcoming Annual General Meeting scheduled for May 28, 2025.
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The proposed final dividend for the year is Ksh3.25, while an interim dividend of Ksh2.25 per share was already paid on September 25, 2024, bringing the total dividend for the year 2024 to Ksh5.50 per share.
In comparison, the total dividend for 2023 was Ksh4.75 per share.
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“The dividend will be payable to the shareholders registered on the Company’s register at the close of business on 30th April 2025 (the record date for dividend entitlement), with payment to be made on or immediately after 28th May 2025,” reads the message from the Board.
NCBA Bank Board Message
The Board emphasized that the financial statements are extracts from the books of NCBA Group PLC as audited by Deloitte & Touche LLP and have received an unqualified opinion.
It added that the complete set of audited financial statements, statutory and qualitative disclosures can be accessed on the Group’s website www.ncbagroup.com or at the Group’s head office located at NCBA Centre, Mara and Ragati Roads, Upper Hill.
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Diamond Trust Bank Results
Similarly, DTB recorded Ksh11.27 billion profit before tax and exceptional items.
The figure reduced to Ksh7.64 billion after the deduction of current tax (Ksh3 billion), deferred tax (Ksh661,687) and non-controlling interests (Ksh1.17 billion).
Based on the results, the Directors will recommend a dividend payment to Shareholders at the Annual General Meeting.
The proposed dividend is a first and final dividend of 175%, equivalent to Kh 7.00 per share.
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This applies to the issued and paid-up share capital of Ksh1,118,408,880 and will be subject to withholding tax, where applicable.
The Share Register of the Bank will be closed on May 23, 2025, for dividend payment purposes, and only Shareholders on the Register as of the close of business on that date will be eligible for the dividend.
The dividend payment will be made starting from June 27, 2025.
The complete set of these financial statements will be available at our registered office at DTB Centre Mombasa Road and online at www.dtbafrica.com for inspection after approval at the Annual General Meeting to be held on 26 June 2025.
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