Kenya Power posted a net profit of Sh30 billion for the year ending June 30, 2024, a major turnaround from a Sh3.19 billion loss the previous year. The power distributor credited this improvement to a 21% rise in sales from commercial and industrial customers, along with the shilling’s strengthened position against the dollar. Sales grew to Sh231 billion from Sh191 billion, while finance costs significantly dropped by Sh25 billion due to a Sh7.9 billion unrealised foreign exchange gain. The board recommended a Sh0.70 per share dividend, ending a prolonged period without payouts.
Kenya Power Reports Sh30 Billion Profit, Recommends Dividend
Subscribe to receive the latest news updates, exclusive stories, and insightful articles straight to your inbox. Stay ahead with credible news coverage from Kenya and around the world.
Related Posts
Leave a Reply
POPULAR NEWS
-
Excellence: Annastacia Kimtai Leads the Way in Banking
-
Navigating the Complexities of Succession Politics – Hon. Raila Odinga
-
Unmasking the Smear: Political Witchhunt or Plain Malice, Governor Gideon Mung’aro
-
Kenya Power Boosts Participation of Special Interest Groups in Procurement, KShs.609 Million in Tenders
-
President Ruto Foresees Africa’s Economic Ascendancy at Kenya-Ghana Business Forum
Kenyan News is more than just a news platform, it’s a vibrant community dedicated to showcasing the diverse voices and stories that shape our nation.
Founded with a mission to inform, inspire, and empower, Kenyan News strives to be the go-to destination for insightful, engaging, and impactful content.
