Shareholders of top banks in Kenya have been allocated close to 40 per cent of last year's net earnings, the highest in five years.
An analysis of the final dividend payout for the top five banks in terms of asset value excluding KCB Group by the Star shows that at least 43 per cent of earnings for the year went to shareholders.
KCB Group, which reported a drop in profit for the last financial year will not issue dividends for the first time in 21 years.
The five top banks earned a total profit of Sh118.5 billion in 2023, with Sh51.08 billion going to shareholders.
Equity Holdings topped with Sh43.7 billion, Co-op Bank Sh23.2 billion, NCBA Sh21.4 billion, Absa Sh16.4 billion and Standard Chartered closed the top list with Sh13.8 billion.
On Monday, Co-operative Bank Group disbursed Sh8.8 billion of its net earnings in 2023 to shareholders, representing 37 per cent of total earnings.
"The Co-op Bank Group aims to deliver a sustained increase in shareholder value by retaining a strategic focus on sustainable growth, resilience, and agility,” the Group MD and CEO Gideon Muriuki said while disbursing the funds.
Stanchart Bank, the sixth leading bank in the country in terms of asset value dedicated over 70 per cent of its earnings to shareholders for the year ended December 32, 2023.
Data shows that the lender is paying shareholders a total of Sh10.88 billion out of Sh13.8 billion earned in the financial year under review.
Shareholders at Absa Bank Kenya, on the other hand, are taking home Sh8.42 billion out of Sh16.4 billion earned last year, representing 51 per cent.
NCBA Group closes the top five list with a Sh7.8 billion dividend payout from Sh21.4 billion earned last year.