Government To Get Ksh6.3 Billion From Safaricom

Peter Ndegwa
Safaricom CEO Peter Ndegwa. [PHOTO/ COURTESY]

The government will receive Ksh6.3 billion from Safaricom, following the telco’s announcement of Ksh18 billion dividend to its shareholders

The government holds a 35 percent stake in Safaricom, being the biggest shareholder in the giant telco.

The Ksh18 billion dividend is equivalent to Ksh0.45 per share, which has been attributed to good financial performance.

“This is in recognition of the company’s solid half-year performance and to support our shareholders during these difficult economic times occasioned by the Covid-19 pandemic,” Safaricom said in a statement.

Read: M-Pesa Eats Into Safaricom Revenues As Profits Dip 6PC

Safaricom will pay the dividend on or about March 31 to shareholders on record as of March 5.

Vodacom Group Limited and Vodafone Group Plc will share a gross payout of Ksh7.2 billion for their combined 40 per cent stake.

Safaricom’s net profit in the half-year ended September dropped six percent to Ks33 billion due to the removal of fees on M-Pesa transactions of up to Ksh1,000 to support customers during Covid-19 period.

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