Shareholders of the largest telco in East Africa have today agreed to distribute amongst themselves, a special dividend of KES 0.62 per share, amounting to Ksh 24.84 billion and a final ordinary dividend of KES 1.25 per share totaling to Ksh 50.08 billion.
At Ksh 1.87 total dividend payout, this makes it one of the largest regionally for any company, considering the tough economic times.
“I am proud that the company has consistently paid out an increased dividend to shareholders since going public in 2008 and we have now paid out more than the KES 5 that the investors spent buying the shares,” said, Michael Joseph, CEO Safaricom.
During this Financial year, Safaricom has also announced plans to roll out an additional 2,030 4G and 4G+ base stations; aiming to cover 80 per cent of the population, up from the current 57 per cent.
Network expansion remains the most capital intensive exercise for mobile operators, with the new expansion expected to come at cost of Ksh 36 Billion.