- Advertisement -

NCBA: Kenyattas Get Ksh835M Dividend as Profits Hit Ksh13B

NCBA saw profit after tax grow from Ksh10.22 billion in 2021 to Ksh13.78 billion in 2022

- Advertisement -

The family of former President Uhuru Kenyatta will earn a dividend of around Ksh835 million for its 13.2% state in NCBA Group, a Business Today analysis shows, after the bank announced a dividend per share of Ksh4.25 for the 2022 full year, up from Ksh3 the previous year.

The increased payout follows the bank’s growth in profit after tax, from Ksh10.22 billion in 2021 to Ksh13.78 billion in 2022 – representing a 34.77% increase.

Others set to reap big in dividends include the Ndegwa family, with its 11.7% stake in the company. The Ndegwas will get around Ksh740 million in dividends.

“The (final) dividend will be payable to the shareholders registered on the company’s register at the close of business on April 28, 2023, and will be paid on or after May 31, 2023,” the bank noted.

NCBA stepped up lending in 2022, growing its loan book by 14.29% to Ksh278.92 billion up from Ksh244.04 billion the previous year. Its total assets grew to Ksh619.66 billion from Ksh591.09 billion in 2021 – with customer deposits increasing by 6.98% to hit Ksh502.8 billion up from Ksh468.89 billion in 2021.

READ>Raila’s Gas Company, Kenyatta Family Farm Invaded

The bank saw net interest income also increase to Ksh30.68 billion up from Ksh27.04 billion in 2021. Non-interest income grew to Ksh30.26 billion in 2022 compared to Ksh22.11 billion the previous year.

The NCBA board recommended a final dividend of Ksh2.25 per share. NCBA had in September last year paid out an interim dividend of Ksh2 per share, bringing the total dividend to Ksh4.25 per share amounting to Ksh7 billion, or 50.8% of net profit.

Besides local individual shareholders including the Kenyattas and Ndegwas who, for their combined 22.63% stake will receive a total of Ksh1.58 billion, local companies, who hold a 76.97% in what is Kenya’s third-largest bank, will get a total of Ksh5.39 billion in dividends.

NEXT READ>Equity Records Ksh46.1 Billion Profit After Tax

 

 

 

- Advertisement -
BUSINESS TODAY
BUSINESS TODAYhttps://businesstoday.co.ke
editor [at] businesstoday.co.ke
- Advertisement -
Must Read
- Advertisement -
Related News
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here