Co-operative Bank of Kenya has paid its Sh8.8 billion dividends boosting liquidity of its shareholders including Saccos, individuals and other institutions.
Nairobi Securities Exchange-listed firms typically pay dividends on the scheduled date or a few days later, depending on the efficiencies of the share registrars and the means by which an investor elects to be paid.
Co-op Bank joins other publicly traded banks that paid their dividends in the past few days, marking out May and June as the months with the highest concentration of dividend payouts.
Co-op Bank increased its dividend payout by 50 percent to Sh1.5 per share for the year ended December 2022.
The enhanced dividend was paid to shareholders who were on record as of May 24, 2022.
They included saccos which own a 64.56 percent stake in the bank through their investment vehicle Co-op Holdings Co-operative Society Limited.
The saccos’ investment vehicle received Sh5.6 billion in the payout which came after the bank reported a 33 percent net profit growth to Sh22 billion in the year ended December 2022, helped by a surge in interest and non-interest income.
