Family Bank AGM approves Ksh.1.1 billion dividend for shareholders

Family Bank AGM approves Ksh.1.1 billion dividend for shareholders

Family Bank shareholders have approved a Ksh.1.1 billion total dividend from its 15th Annual General Meeting.

Shareholders will pocket Ksh.0.83 per share.

This follows an impressive 2021 full year results that saw a pretax profit surge by 131.6 percent to Ksh.3.3 billion for the year ended December 31, 2021.

“It is on back of our strong 2021 full year performance and improved liquidity that as a Board we approved this dividend pay-out. I would like to thank our shareholders for their patience, understanding and continued trust in our decisions over the years as we strike balance between return and capital maximisation,” Family Bank Chairman Dr. Wilfred Kiboro told the shareholders at the AGM.

At the AGM, Family Bank CEO Rebecca Mbithi said the Bank remains focused to optimally gaining size and scaling up efficiently.

“Our overall objective as a Bank has been to position the Bank for the future in order to deliver a strong value proposition not only for our customers but for our shareholders. This is backed by our aggressive five-year strategy as we build business operations systems towards Tier 1 status,” she said.

In June 2020, Family Bank shareholders approved a Ksh.0.24 dividends pay out per ordinary share, a total of Ksh.308.9 million.

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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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