Family Bank AGM Approves Kes.1.1 Billion Dividend Following Impressive Results in 2021
By Shadrack Nyakoe
Family Bank shareholders have approved a KES 1.1 billion, KES 0.83 per Share, dividend pay-out at the 15th Annual General Meeting.
This follows an impressive 2021 full-year results that saw the bank book a Ksh3.3 billion Profit Before Tax. It was a 132 percent increase in earnings compared to the full-year results of 2020.
“It is on the back of our strong 2021 full-year performance and improved liquidity that as a Board we approved this dividend pay-out. I would like to thank our shareholders for their patience, understanding, and continued trust in our decisions over the years as we strike balance between return and capital maximization,” Family Bank Chairman Dr. Wilfred Kiboro told the shareholders at the AGM.
Reiterating his remarks during the AGM held virtually, Family Bank CEO Rebecca Mbithi stated that the Bank remains focused on optimally gaining size and scaling up efficiently.
“Our overall objective as a Bank has been to position the Bank for the future to deliver a strong value proposition not only for our customers but also for our shareholders. This is backed by our aggressive five-year strategy as we build business operations systems towards Tier 1 status,” she said.
In June 2020, Family Bank shareholders approved a dividend payout of KES 0.24 per ordinary share, a total of KES. 308.9 million.