NSE Plc dividend will make shareholders 63% richer

Shareholders of the Nairobi Securities Exchange (NSE) company are set to receive around Ksh127 million in dividend payout, subject to approval at an annual general meeting.

In a notice to shareholders for the firm’s 65th AGM which will be held on May 30 at the Kenyatta International Convention Center (KICC), stakeholders will have to approve a resolution of the final dividend of Ksh0.49.

The payout comprises an ordinary dividend of Ksh0.29 coupled with a special dividend of Ksh0.20.

During the previous financial year, NSE had offered a dividend payout of Ksh0.30. It means the NSE’s dividend payout has risen by 19 cents, or 63%.

With NSE Plc having approximately 259,500,791 shares in issue, the Ksh0.49 per ordinary share amounts to around Ksh127 million.

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In March, the NSE Plc which is listed on the bourse declared a profit of Ksh190 million, representing an 11.8% year on year decline.

The slump however saw a 2% increase in equity turnover and a 29% surge in bonds turnover. Total income and assets also ticked upwards, at a rate of 4% and 5% respectively.

A statement from the firm in March said, “The NSE will in the coming year focus on enhancing uptake of its various products. With the broadening of our product offering, companies can now tap into various forms of capital including debt, equity and Real Estate Investment Trusts to raise funds for their businesses.”

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