Nation Media declares Ksh.1.5 per share after posting Ksh.584.7 million net profit

Nation Media declares Ksh.1.5 per share after posting Ksh.584.7 million net profit

Nation Media Group (NMG) has declared a dividend payout of Ksh.1.5 per share to shareholders after it posted a Ksh.584.7 million in net earnings for the year ended December 31, 2021.

The company’s revenue surged by 331.5 percent from Ksh.135.5 million it posted in the year 2020.

In the year 2020, the media company skipped dividend payout amid coronavirus disruptions which had a hit on its revenue performance. It paid Ksh.1.5 dividend per share in 2019.

A proposed dividend of Ksh.285.4 million has been set aside for shareholders which, according to the Group Chair Wilfred Kiboro will be paid on June 16, 2022.

“The dividend will be paid less withholding tax where applicable on or about 29 July 2022 to shareholders registered at the close of business on 16 June 2022. The register of members will be closed from 17 June to 23 June 2022, both dates inclusive,” said Kiboro in a statement.

NMG said it will bank on its online presence to grow revenue as it boosts with 47.3 million total online audiences including website with 7.1 million users.

Its digital revenue grew by six percent. It comprised digital advertising sales, and subscriptions to e-paper and Nation.Africa, which grew to 14 percent of total circulation sales up from 11 percent in 2020 and 4 percent the previous year.

Broadcast revenues grew from 20 to 22 percent of total turnover reducing the company’s overreliance on print revenues which declined from 75 percent to 72 percent of total turnover.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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