CS Rotich seeks re-election on KenGen Board

KenGen shareholders have the chance to determine whether National Treasury Cabinet Secretary Henry Rotich deserves another term on the Board of the power producing company.

The Treasury CS is eligible for re-election to the Board as per the law, KenGen said in a notice of Annual General Meeting (AGM) to its investors.

CS Rotich is one of three current KenGen directors up for re-election during the company’s AGM, scheduled for December 11.

The other two are Mr. Maurice Nduranu, a principal at BlackGold Investment, and Mr. Joseph Sitati.

Mr. Sitati also faces a re-election bid in the Audit and Risk Committee in a vote for a five person panel. The committee ballot will also see shareholders determine the fate of Kenya Association of Manufacturers (KAM) chief executive officer Phyllis Wakiaga.

The AGM will also see investors approve a proposed Ksh0.40 dividend per share which is KenGen’s first payout to shareholders in two years.

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In October, KenGen announced a net profit of Ksh7.89 billion in its half year financial results ended June 30, 2018.

This saw a drop from the numbers posted during a similar period in 2017, which amounted to Ksh9 billion.

Revenue however rose to Ksh45 billion, as against Ksh43 billion that was posted during the same period last year.

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