Kenyatta family set to pocket a record high KSh1 billion of investment
3 min read
The family of former President Uhuru Kenyatta is set to receive a staggering Sh1.03 billion from it investment
The family of former President Uhuru Kenyatta is set to receive a staggering Sh1.03 billion from it investment.
The windfall stems from dividends accrued through their investments in NCBA Group following the bank’s successful performance in the last financial year.
NCBA Group is disbursing a total of Sh7.8 billion in dividends following a year of solid performance.
The group cited enhanced banking performance and informed financial strategies as the core reasons behind their profitable year in which they posted a profit after tax of Sh21.5 billion in the Full Year 2023 results.
This is a 56 percent increase compared to Sh13.8 billion reported during a similar period in 2022.
According to the bank, shareholders will get a dividend payment of Sh4.75 per share, which is an increase of 11.8 percent.
The Kenyatta family holds a 13.2 percent stake through Enke Investments. This translates to Sh1.03 billion in dividends.
In FY 2022, the family received Sh924 million from a dividend payout of Sh2.25 per share.
The previous year (FY2021) they got Sh625 million from a dividend payout of Sh3 per share.
In FY2020, the Kenyattas received Sh326 million for Sh1.5 per share.
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The Kenyatta family is the second-largest shareholder after the family of former Central Bank Governor Philip Ndegwa, which owns a 14.94 percent stake through First Chartered Securities.
The Ndegwa family is set to pocket Sh1.17 billion in this year’s dividend payout, an increase from last year’s Sh876 million.
In FY2021, Philip Ndegwa’s family pocketed Sh580.8 million from their 11.7 percent shareholding in the bank. In FY2020, the Ndegwas earned Sh290 million from their shares.
First Chartered Securities recently overtook Enke Investments as the top shareholder after purchasing additional shares.
The Ndegwas now hold a stake of 14.44 percent in the NCBA Group, with the Kenyattas following with 13.2 percent.
The rise in earnings for both families shows that the bank’s performance has been on a consistent upward trajectory, building confidence in its shareholders.
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