KenGen Shareholders To Pocket Ksh2.6 Billion In Dividends
Electricity Generator KenGen had a two per cent increase in pre-tax profit for the 12 months ending June 30, 2018 to Ksh11.75 billion, up from Ksh11.46 billion last year.
Consequently, the company has declared a dividend of Ksh.2.6 billion for the current financial year.
In a statement, the company says that the revenue, generated from geothermal power plants, increased from Ksh. 16.1 billion to Ksh. 17.1 billion while steam revenue rose from Ksh. 5.2 billion to Ksh. 6.2 billion between the 2017-18 period.
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Managing Director & CEO, Mrs. Rebecca Miano attributes the good performance to diversification of energy sources, through which geothermal generation was able to cater for a deficit in hydro generation.
“We remained cash generative at the operating level over the year, despite continued investment in capacity expansion which mainly focused on geothermal. It is this investment that will underpin further rapid growth going forward with an overall objective of a steady return for our shareholders,” added Mrs Miano insisting the company’s commitment to maintaining investor confidence in its capital-intensive business.
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