Jubilee Holdings Limited has announced a total dividend of Ksh652.3 million of Ksh9 per share for the financial year ended December 2019.
In a notice to shareholders, the company said the dividend will be paid at the close of business on Friday. The company had paid out an interim dividend of Ksh1 per share in October 2019.
The company announced a Ksh4.02 billion profit for the full year ended December 2019 in May down from the Ksh4.13 billion posted at a similar period the previous year.
Commenting on the development, Jubilee Holdings Limited Group Chairman Nizar Juma noted that since going public the company has always paid a dividend to its shareholders and has maintained a streak of never paying a lower dividend than the previous year.
“We are proud that Jubilee Holdings has demonstrated its solid financial ground and stood by its shareholders, and not lowered the dividend payout, despite the current difficulties caused by the COVID-19 Pandemic,” Juma stated.
JHL has also advised that it has rescheduled its 2020 AGM to a later date this year after the Company sought and obtained approval from the Business Registration Services.
The postponement has been occasioned by the challenges posed by the COVID-19 pandemic.
“Accordingly, the 2020 AGM will be held before the close of the current financial year and the notice published in the prescribed manner,” Mr Juma said in a statement.
As part of its COVID-19 recovery strategy , Jubilee Holdings has enhanced its distribution channels with the recent roll out of its fully digitized online platforms to allow its customers to continue to purchase the company’s products electronically.
Recently, Jubilee Holdings Limited (JHL) announced the purchase of a further 9.44 percent interest in Bujagali Energy Limited (BEL) valued at US$ 45 million (Ksh4.8 Billion) from the technical partners, SN Power.
