Telco giant Safaricom has called upon all shareholders to shift to electronic payment modes away from the traditional use of cheques.
The telecommunications company issued a notice on Monday 18, 2024 requesting all shareholders to update their information with the share’s registrar, specifying their preferred method of electronic payment.
“In an effort to efficiently communicate with our shareholders, it is hereby brought to your notice that Safaricom Plc through its share’s registrar, Image Registrars Ltd requires all shareholders to update their contact information, dividend payment details and convert to electronic payment modes from cheques,” read the statement.
Safaricom said that it is moving to electronic payment methods as a way of discontinuing the use of cheques for service transactions.
“As part of this effort, shareholders are encouraged to transition to electronic payment methods, such as bank transfers or mobile M-PESA, for smoother and quicker transactions,” further read the notice.
The listed company further said that updating of contact information will enhance smooth communication and efficiency.
“This exercise ensures that Shareholder’s contact details are up to date, which enables the Company to effectively communicate with all Shareholders and pay them in a more efficient way i.e. via Bank Transfer or Mobile Money (M-PESA),” further read the notice.
At the same time, the firm said that the shareholders currently receiving cheques are advised to provide their bank account or registered M-Pesa details to facilitate future payments.
Also Read: How Safaricom Collects and Uses Your Personal Information
How to Update Contact Information
For those utilizing Central Depository and Settlement Corporation (CDSC)-accounts that holds shares only were asked to update their information with their respective stockbrokers.
The updated contact information shall be used to pay any outstanding dividend (where applicable) and future dividends in your name more efficiently.
Shareholders were advised to log onto the link https://contactsir.azurewebsites.net/ to update their details or fill the provided form.
They can also send the required information in the link above back to us via email safaricomshares@image.co.ke or drop off the documents at the Image Registrar’s Office located at Absa Towers, 5th Floor Loita Street, Nairobi.
Also Read: Safaricom Introduces New M-PESA Regulations from Next Week
Share Price of Safaricom and Its Shareholders
The current share price of Safaricom Plc (SCOM) is Ksh 14.50.
Safaricom closed its last trading day (Friday, March 15, 2024) at Ksh15.20 per share on the Nairobi Securities Exchange (NSE), recording a 1.3% gain over its previous closing price of 15.00 KES.
The telco began the year with a share price of Ksh13.90 and has since gained 9.35% on that price valuation, ranking it 19th on the NSE in terms of year-to-date performance.
These changes came ahead of the payment of the Ksh0.55 per share interim dividend amounting to Ksh23.64 billion that the telco’s board declared on February 21, 2024.
In addition, the interim dividend will be paid on or about March 31, 2024, to shareholders who were on the register of members as of the close of business on March 15, 2024.
According to the company at present, their largest shareholders include the Government of Kenya (35%), Vodacom (35%), Vodafone (5%), and the remaining 25% as free float.
