Nairobi — Safaricom shareholders have approved a Sh0.65 dividend per share, amounting to Sh26.04 billion for the financial year ended March 31, 2024.

This follows an interim dividend of Sh0.55 per share, totalling Sh22.04 billion, paid in March 2024.

The company's total dividend payout for the year now stands at Sh1.2 per share, representing a cumulative Sh48.08 billion.

"In the financial year under review, the business displayed significant resilience in producing outstanding growth in both our top and bottom lines. This enabled us to achieve a major milestone, attaining, in our Kenyan business alone, earnings of more than USD1 billion before tax and interest," he said.

Despite the firm's strong financial performance, Safaricom says that the year was marked by a challenging economic environment in both Kenya and Ethiopia on account of high interest rates, inflation, and currency fluctuations, impacting disposable income and business operations.

The Telco however exuded confidence, underscoring its commitment to delivering value for shareholders through strategic investments and robust strategy execution.

The company anticipates breaking even in Ethiopia by the end of its fourth year of operations.