KCB Group Plc shareholders have approved a KES9.6 billion in dividends payout for the FY2024, underscoring a sustained return to investment as the lender reaps from regional expansion.

The shareholders approved a final dividend of KES1.50 per share at the AGM in Nairobi on Thursday, as recommended by the Board. The dividend shall be paid on or about May 23, 2025, net of tax to the members on register at the close of business on April 3, 2025.

"Based on our performance for the year and our commitment to providing our shareholders with long-term sustainable value from their investment, the Group proposed the payment of interim and final dividends, while ensuring adequate capital retention for growth and regional expansion,” said KCB Group CEO Paul Russo.

This, together with an interim dividend of KES1.50 per share paid on October 23, 2024, brings the total dividend paid for the year to KES3.00 per share, equivalent to KES9.6 billion. This coupled with a share price appreciation of 90 percent recorded in the year amounts to a total shareholder return of 97.2 percent in 2024 up from -42.5 percent in 2023.

“KCB Group remains committed to supporting businesses, individuals, and communities to weather the challenges and, where possible, provide opportunities for growth through its regional footprint and diverse products, services and solutions," stated Group Chairman Dr. Joseph Kinyua.

On Wednesday, the bank announced KES16.53 billion in net earnings for the first quarter of the year ending March 31, 2025, compared to KES16.48 billion reported in Q1 2024. 

Total revenues rose 2 percent to KES49.4 billion, while the Group’s balance sheet closed the period at KES2.03 trillion, from KES1.99 trillion on the back of a stable loan portfolio. 

Regional subsidiaries' contribution to profit before tax outside KCB Bank Kenya improved to 32 percent.

Shareholders were also updated on the ongoing sale of National Bank of Kenya Limited (NBK) to Access Bank PLC (Access Bank), a transaction that is at the tail end. In April, the Group received regulatory approval from the Central Bank of Kenya (CBK) to progress the transaction. 

KCB also received a nod by the Cabinet Secretary for the National Treasury and Economic Planning, 2025, approving the transfer of certain assets and liabilities of NBK to KCB Bank Kenya Limited pursuant to section 9 of the Banking Act.