Stanbic Holdings touched a one year high on Wednesday at the Nairobi Securities Exchange (NSE). The Stanbic shares on NSE hit one year high of Sh170 per apiece, with the day’s closing average gaining by 6.50 percent to settle at Sh168 per share from the previous day’s average trading price of Sh157.75 per share.
The increase in the value of the Stanbic shares came after the bank announced a 13 per cent increase in its profit after tax for the full financial year ended December 2024. The bank’s net profit came in at Sh13.7 billion in the year under review. In the previous full year, the bank had recorded a full year net profit of Sh12.16 billion.
The current performance has now seen the bank declare a record dividend payout totaling Sh8.19 billion. This payout means that Stanbic shareholders will now pocket Sh20.74 per share up from the Sh15.35 per share dividend that was paid out the previous full year 2023.
“The Directors of Stanbic Holdings Plc have recommended a final dividend of Sh18.90, having paid an interim dividend of Kenya shillings one and eighty four cents Sh1.84 for each ordinary share of Sh5 on the issued and paid up share capital of the Company,” Stanbic announced.
Stanbic shareholders have already pocketed an interim dividend of Sh1.84 per share which was paid out in September 2024. The shareholders will now receive the final dividend of Sh18.90 per share to bring the total dividend payout to Sh20.74 per share for the year under review.
Saccos that have lost money in KUSCCO; the millions they had invested
“We had a robust performance in 2024, driven by our ongoing focus on platforms, solutions, and processes that promote business growth. Our investments in technology, talent, and innovative strategies have enabled us to deliver resilient earnings, creating a positive impact across Kenya and South Sudan,” Stanbic chief executive officer Joshua Oigara said.
