Shareholders of 13 companies listed on the Nairobi Securities Exchange (NSE) are set to receive about Sh74.95 billion in dividends over the coming 12 weeks, as stronger earnings allow firms to increase returns to investors.
The payouts, which begin on August 30 and run into early November, represent a significant increase from the Sh52.66 billion distributed by the same companies during a comparable period last year. The latest figure reflects a 42 per cent increase, equivalent to about Sh22.3 billion.
The companies involved are Safaricom, KCB Group, East African Breweries Limited (EABL), NCBA Group, Absa Bank Kenya, Stanbic Holdings, BAT Kenya, Car & General, Kapchorua Tea, Williamson Tea, Crown Paints, Liberty Kenya Holdings and Laptrust Imara-REIT.
The higher payouts have been supported by improved profitability, stronger revenues and lower financing costs. Several of the companies, particularly banks and large corporates, have reported record or significantly improved earnings.
Investment analysts say the stronger balance sheets have given companies greater room to reward shareholders while supporting their share valuations.
Safaricom accounts for the largest share of the upcoming payouts, with shareholders due to receive about Sh46.08 billion on September 4. The payment represents a final dividend of Sh1.15 per share following the telecommunications company’s strong financial performance for the year ended March 2026.
Safaricom’s net profit rose by 37 per cent to Sh95.6 billion, while its final dividend increased sharply from Sh0.65 per share in the previous year.
KCB Group will distribute approximately Sh9.64 billion in interim dividends on November 10, equivalent to Sh3 per share. The bank’s half-year net profit increased by 14.2 per cent to Sh36 billion.
Other banks are also preparing substantial payouts. NCBA will distribute about Sh6.18 billion, while Stanbic and Absa are expected to pay approximately Sh648 million and Sh2.72 billion, respectively.
NCBA raised its interim dividend to Sh3.75 per share from Sh2.50 previously, while Absa increased its interim dividend to Sh0.50 per share from Sh0.20.
In the manufacturing sector, EABL will pay about Sh6.88 billion on October 31, following a record net profit of Sh18 billion for the year ended June 2026. BAT Kenya is expected to distribute Sh1 billion on September 25.
Smaller listed firms will also make payments during the period. Kapchorua Tea will distribute about Sh469.4 million, Crown Paints Sh427.1 million, Williamson Tea Sh525.4 million, Liberty Kenya Holdings Sh267.9 million, Car & General Sh80.2 million and Laptrust Imara-REIT about Sh45.8 million.
| Company | 2026 dividend (Sh million) | 2025 dividend (Sh million) |
|---|---|---|
| Safaricom | 46,075.24 | 26,842.53 |
| KCB | 9,640.39 | 12,853.85 |
| EABL | 6,879.74 | 4,349.28 |
| NCBA | 6,178.20 | 4,118.89 |
| Absa | 2,715.77 | 1,886.31 |
| BAT | 1,000.00 | 1,000.00 |
| Stanbic | 648.33 | 1,502.22 |
| Williamson | 525.38 | 350.25 |
| Kapchorua | 469.44 | 391.20 |
| Crown Paints | 427.99 | |
| Liberty | 267.85 | 857.13 |
| Car & General | 80.21 | 24.06 |
| Laptrust Imara-REIT | 45.81 | 79.63 |
| Total | 74,952.64 | 52,656.25 |
Despite the attractive payouts for investors, the growing presence of foreign shareholders means a sizeable portion of the dividend income will leave Kenya.
About 45 per cent of the Sh74.95 billion, equivalent to roughly Sh33 billion, is expected to be repatriated overseas by multinational shareholders.
Safaricom illustrates the trend. South Africa’s Vodacom Group recently increased its stake in the telecommunications company by acquiring an additional 15 per cent from the Kenyan government for Sh204 billion, taking its controlling interest to 55 per cent. Vodacom is consequently expected to receive about Sh25.3 billion from Safaricom’s latest dividend, compared with Sh10.4 billion previously.
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Foreign ownership in the banking sector is also expanding. South Africa’s Nedbank is acquiring a 26.6 per cent stake in NCBA for about Sh110 billion, while Absa Group has offered Sh30.9 billion for an additional 16.5 per cent stake in its Kenyan subsidiary.
The increasing foreign ownership of major Kenyan companies has raised concerns over the repatriation of corporate profits and its effect on the country’s foreign exchange market.
Kiharu MP Ndindi Nyoro has warned that increased foreign control of banks and Safaricom could limit the extent to which Kenyan investors benefit from the growth of key sectors.
Higher dividend payments to foreign shareholders also create additional demand for dollars as multinational companies convert their earnings for repatriation, potentially putting further pressure on the local foreign exchange market.
At the same time, capital that leaves the country through dividend repatriation is money that could otherwise have remained in Kenya and been reinvested in the domestic economy.
