Safaricom has maintained its interim dividend at Ksh.0.55 per share, translating to a total payout of Ksh.22.04 billion, despite a tough financial year marked by hurdles in its Ethiopian operations.
This decision comes as the company’s net profit for the half-year declined by 17.7% to Ksh.28.1 billion.
The dividend retention is welcome news for investors who had anticipated a potential dip in returns due to the company’s financial performance. The Safaricom board approved the payout on February 12, 2025, with shareholders listed in the register by March 3 set to receive their payments on March 31, 2025.
This marks the second consecutive year Safaricom has maintained its mid-year dividend at Ksh.0.55 per share, following a reduction from Ksh.0.64 in 2022. The company’s financial performance has been significantly impacted by currency depreciation in Ethiopia, leading to foreign exchange losses amounting to Ksh.17.7 billion.
Despite these challenges, Safaricom’s stock has demonstrated resilience on the Nairobi Securities Exchange (NSE), surging by 34% over the past year to reach Ksh.17.70 per share.
Also Read: Safaricom in Talks with Elon Musk for Possible Starlink Partnership
Dividend Distribution Breakdown
The interim dividend payout will see the Kenyan government, which holds a 35% stake in Safaricom through the National Treasury, receive approximately Ksh.7.7 billion. Vodafone and Vodacom, joint owners of a 40% stake, will collect Ksh.8.8 billion, while retail investors will share Ksh.648 million.
According to financial analysts, Safaricom’s dividend trends suggest the company may maintain its final dividend at Ksh.0.65 per share, aligning with its historical pattern of balancing interim and final dividend distributions.
With ongoing efforts to stabilize operations in Ethiopia and strengthen its financial position, Safaricom remains a key player in Kenya’s telecom sector, demonstrating resilience amidst economic fluctuations.
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