Kenya Electricity Generating Company PLC (KenGen) has paid the National Government Ksh. 1,153,856,022 in dividends for the financial year ended June 2019.
Treasury & Planning Cabinet Secretary, Amb. Ukur Yatani, received the cheque from KenGen Board Chairman, General (Rtd.) Samson Mwathethe.
“We are indeed privileged and honoured to pay the Government Ksh. 1,153,856,022 in dividend at a time when businesses are facing enormous challenges occasioned by the Coronavirus Disease (COVID-19) pandemic.” Mwathathe said.
The event was also graced byvthe Energy Champion KenGen MD and CEO Rebecca Miano.
The Government owns 70% stake at KenGen while 30% is owned by private shareholders.
CS Yatani noted that as the country’s leading energy producer, KenGen was a major player in the Government’s efforts towards the country’s growth and development.
“Energy is critical for the country’s growth and development. We take cognizance of the important role played by KenGen in growing the economy,” the CS said.
The Board has recommended a first and final dividend for the year of Ksh 0.30 per ordinary share of Ksh 2.50, which will be paid to shareholders once ratified in the next annual general meeting (AGM), Gen. Mwathethe said.
Rebecca Miano also expressed optimism in the company’s ability to navigate the COVID-19 Pandemic which led to widespread socio-economic challenges.