The National Treasury has received a total of Sh4.3 billion dividend payment from listed power generator Kenya Electricity Generating Company.
This includes a disbursement of Sh3 billion to the government, the company’s majority shareholder. This marks a 117 per cent pershare increase over the previous year and follows a net profit Sh6.8 billion for the year ended June 30, 2024.
The latest payment follows an earlier 30 per cent payout of approximately Sh1.3 billion, which was paid out to the private and institutional shareholders midlast month.
Receiving the dummy cheque from KenGen’s board chairman Alfred Agoi and MD Peter Njenga, National Treasury Cabinet Secretary John Mbadi hailed the firm’s financial performance.
He said the dividend is a testament to the NSE-listed power generator’s robust financial performance and its strategic alignment with national development goals.
“We are immensely proud of KenGen as a model of excellence for the National Treasury. Their stability, cost efficiency, and reliability in energy supply are key indicators of our nation’s economic performance,’’ Mbadi said.
Energy Principal Secretary, Alex Wachira praised the listed power distributor for consistently delivering profit.
“Moving forward, our focus will be on supporting new projects in geothermal, hydro, solar, and wind through backing from the National Treasury to help access funds from development partners.”
Agoi attributed the good financial results to sustained efforts to boost electricity generation, enhance operational efficiencies, and execute prudent financial management.
“Our dividend payout is not merely a financial milestone but a clear reflection of effective policy collaborations and our commitment to Kenya’s growth,” Agoi said.
