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KPLC Shareholders Happy as Company Announces Dividend After Ksh14 Billion Profit

by Jason Ndunyu
January 31, 2025
Reading Time: 5 mins read
Kenya Power Opens Attachment Applications for Degree, Diploma & Certificate Holders; How to Apply

KPLC CEO Joseph Siror at a past function. PHOTO/KPLC

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The Kenya Power and Lighting Company (KPLC) has recorded a profit before tax of Ksh14 billion for the financial year ended December 31, 2024.

In a press release on January 30, 2025, KPLC posted a Ksh14.065 billion net profit on the backdrop of lower cost of sales.

The growth represents an increase of Ksh13,527 million (Ksh13.527 B) compared to Ksh538 million recorded in the corresponding period of the previous year.

According to the listed company, this growth is attributed to reduced finance costs due to the stability of the Kenya Shilling against major foreign currencies as well as an increase in electricity sales during the period under review. 

“This growth in profitability is attributed to lower cost of sales and reduced finance costs owing to the stability of the Kenya Shilling against major foreign currencies during the period under review, and an increase in electricity sales by 5% from 5,225 GWh to 5,506 GWh,” said Kenya Power.

KPLC Announces Dividend After Posting Ksh14 B Profit
Kenya Power CEO Joseph Siror launches an electric vehicle (EV) charging station at Stima Plaza, Nairobi. Photo/KPLC

The increase in electricity unit sales was driven by higher consumption as a result of improved network reliability, the connection of new customers, and improved outage resolution timelines supported by the availability of critical materials including meters and transformers.


Also Read: KPLC Share Price Rises by 367% a Year After CEO’s Promise


Despite this increase, the overall electricity revenue reduced by 5.4% from Ksh113,552 million (Ksh113.552 B) in December 2023 to Ksh107,425 million (Ksh107.425 B) in December 2024.

Following the profit recorded, Kenya Power has announced that it will pay dividends to shareholders for a second time following a seven-year drought.

Kenya Power Announces Dividend

The Company management has in turn proposed Ksh0.20 per share in interim dividend. 

“The Board of Directors is pleased to announce an interim dividend of Ksh.0.20 per share. The interim dividend will be paid subject to withholding tax where applicable, on or about 11th Aprill 2025 to shareholders registered in the books of the Company at the close of business on 28th February 2025,”

This comes after the KPLC board in October when releasing the results for the financial year ended June 30, 2024, proposed a dividend of Ksh0.70 per ordinary share to shareholders in the register at the close of business on December 2, 2024.

The dividend was to be paid on or about January 31, 2025, upon approval.

This was a relief to shareholders at Kenya Power as the company last paid a dividend in 2017 when it froze payments in subsequent years amid shaky performance and increased demand for cash to run operations.

At the same time, KPLC has detailed that power purchase cost decreased by Ksh1.652 billion to Ksh71.376 billion for the financial year ending December 31, 2024.

This came following the strengthening of the Kenya Shilling against major foreign currencies in which the majority of Power Purchase Agreements (PPAs) are denominated.

This cost reduction was further supported by an optimized generation mix dispatched during the period. A total of 6,603 GWh of renewable energy was purchased, an increase from 6,199 GWh in the previous half-year period.

Finance costs and operating expenses

Operating expenses rose by Ksh4.010 billion, from Ksh19.726 billion in the previous half-year period to Ksh23.736 billion, attributed to higher operational expenses including staff costs, depreciation and other maintenance costs incurred to support the expanded network.

KPLC announced that finance costs on the other hand reduced by Ksh13.052 billion, from Ksh15.023 billion in December 2023 to Ksh1.971 billion in December 2024.

“This reduction is attributed to the strengthening of the Kenyan Shilling against major foreign currencies, which account for 90% of the loan portfolio, as well as a reduction in loan balances due to continued repayment. During the period, the company commenced repayment of the GoK On-lent loans that had remained on a repayment moratorium since March 2020,” the statement adds.


Also Read: Kenya Power Restores Supply in KU After Protests Along Thika Road


The working capital position continued to improve during the review period, increasing by 30% from negative Ksh27.439 billion in June 2024 to negative Ksh18.994 billion in December 2024.

This positive trend reflects the effectiveness of the working capital management initiatives put in place by the company aimed at optimizing financial resources towards achieving financial sustainability.

Ksh30 Billion profit

The Ksh14 billion profit before tax announcement by KPLC comes three months after the company recorded a profit after tax of Ksh30.08 billion for the financial year ending June 30, 2024.

In a press release on October 29, 2024, KPLC announced that it the company had returned to profitability, marking a turnaround from a net loss of Ksh3.19 billion for the year ending June 2023.

The listed firm posted the Ksh30.08 net profit on the back of increased sales and a strong shilling that reduced its costs.

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KPLC top management at a past media briefing. PHOTO/KPLC
Tags: Kenya powerKPLCKPLC Shares
Jason Ndunyu

Jason Ndunyu

Jason Ndunyu is a Digital Media Journalist at The Kenya Times with a passion for research and fact-checking. He delivers engaging content across diverse topics, with a special interest in the dynamic world of Sports. You can reach him at [email protected]

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