Safaricom Announces Dividends to its Shareholders

Safaricom Announces Dividend for Shareholders

Safaricom has announced dividend to its shareholders. The telco’s board announced the dividends after a meeting on February 12, 2025.

In a statement dated February 13, 2025, Safaricom’s Ag. Company Secretary Linda Wambani said the Board resolved to pay an interim dividend of Ksh 0.55 per ordinary share (Ksh22.04 billion) for the year ending March 31, 2025.

“The Board of Safaricom PLC is pleased to announce that at its meeting held on 12th February 2025, it was resolved to approve payment of an interim dividend of Kshs. 0.55 per ordinary share for the year ending 31st March 2025,” said Wambani.

The interim dividend is payable to shareholders on the register of members as at the close of business on March 3, 2025, and will be paid on or about 31st March 2025.

This was after a drop in its profit.

Safaricom CEO, Peter Ndegwa speaking at a past function. PHOTO/Peter Ndegwa X

Safaricom drops profit

Safaricom’s half-year profit for the period ending September 2024 fell by 17.7% to Ksh28.1 billion. This was due to a depreciation of the Ethiopian currency, the Birr.

The birr depreciated by 51.5% over the period, forcing Safaricom to revalue its liabilities

The devaluation of the Ethiopian currency cost Safaricom Sh17.7 billion in forex losses at its Addis subsidiary

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In May 2024, Safaricom profit after tax fell by 18.71 percent to Ksh42.7 billion in the full year ending March 2024, coming on the back of investment in an Ethiopian subsidiary.

This was acknowledged by the telecommunication giant top brass through a statement.

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“In the financial year under review, the business displayed significant resilience in producing outstanding growth in both our top and bottom lines. This enabled us to achieve a major milestone, attaining, in our Kenyan business alone, earnings of more than USD1 billion before tax and interest (EBIT),” said Peter Ndegwa, Safaricom PLC Group CEO.

Mr Adil Khawaja, Chairman of the Board said: “I am encouraged by the resilience demonstrated to deliver a very strong set of financial results, which enabled us to pay a similar dividend to last year’s despite the startup losses in Ethiopia. This success is attributable to strong strategy execution which has once again guided our decisions to deliver for our shareholders while giving more value to our customers.”

Previous dividend

In its last Annual General Meeting (AGM) held in July 2024, shareholders approved a final dividend of Ksh0.65 per share, amounting to Ksh 26.04 billion for the financial year ended 31 March 2024.

This came after an interim dividend of Ksh0.55 per share, totaling Ksh 22.04 billion, that was paid in March 2024, bringing the total dividend payout for the year to Ksh 1.20 per share, representing a total of Ksh 48.08 billion.

Safaricom PLC is listed on the Nairobi Securities Exchange – NSE and is regulated by the Capital Markets Authority.

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