StanChart returns rise to 14.5pc on dividend review
Thursday, June 25, 2020 0:01
By CHARLES MWANIKI
Standard Chartered Bank Kenya shareholders during a past AGM.
FILE PHOTO | NMG
Standard Chartered Kenya #ticker:SCBK shareholders will enjoy a total return of 14.5 percent following the review of dividend for the year ending December 2019 to a bonus share issue and reduced cash payout.
The lender last week said it will ask shareholders to approve the new dividend of Sh7.50 a share plus a bonus issue of one share for every 10 held, replacing the earlier declaration of a Sh15 per share straight cash dividend.
“The review of 2019 dividend from Sh15 to Sh7.50 plus a 1:10 bonus gives investors a yield of 4.5 per cent on the cash dividend plus 10 per cent stock dividend (before price dilution by the bonus shares),” said Genghis in its weekly report.
Equity Group #ticker:EQTY also cancelled its proposed dividend payout of Sh2.50 per share or Sh9.5 billion dividend payout to its shareholders.
