BOC Kenya has maintained its dividend payout level despite its profit dropping 35.2 per cent due to increased competition.
The company, which is controlled by German firm Linde Group, has proposed a final dividend of Sh3 per share bringing the total payout for the year ended December to Sh5.20 a share.
BOC Kenya, which recently appointed a second consecutive female chief executive, made a net profit of Sh148.6 million in the period compared to Sh229.6 million the year before.
Sales of industrial and medical gases as well as welding products tanked by a tenth to Sh1.1 billion blamed on imports from rival players and forex losses. “Revenue for the year was down due to increased market competitiveness,” BOC Kenya said in a statement.
