The Diamond Trust Bank shares have hit a 52-week high on the Nairobi Securities Exchange (NSE). At the close of trading on Tuesday, the shares gained 2.63 percent to close the day’s trading at Sh78 per share.
However, during the day’s trading session, the shares hit a one-year high of Sh83.25 apiece. Over the past one year, the shares have traded at a low of Sh43.10 per piece.
In addition, the Diamond Trust Bank shares hit a low of Sh77 per share. This was still a gain, with the shares having closed at an average trading price of Sh76 per share on Monday.
The counter has become an attractive for investors seeking to gain from dividend payouts. For the previous full year ended December 2023, Diamond Trust Bank paid out a record Sh6 per share. This came after its net profit grew 13.4 percent to Sh6.8 billion, buoyed by higher interest and transaction-based income.
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For the full year ended December 2022, the counter had paid out Sh5 per share in dividend that amounted to a total payout of Sh1.6 billion.
With this consistent growth in dividend payout, shareholders taking position in the counter might be eyeing the potential increase in dividend payout. According to the latest financial results for the lender covering the first nine months of the 2024 financial year, the bank might record a profit growth of around 8 percent.
For instance, the bank recorded an 8.4 percent rise in net profit to Sh6.5 billion in the nine months ended September 2024. Total interest income increased 15.5 percent to Sh44.5 billion. This came about from higher loan income from loans and other banking services. In the same period the previous year, the bank had recorded Sh5.9 billion net profit.
Apart from its branch network in Kenya, Diamond Trust Bank also has regional operations in Tanzania, Uganda and Burundi.
