Co-op Bank AGM approves dividend of 80 cents per share

Co-opBank Chairman John Murugu picking questions from shareholders, flanked by MD Gideon Muriuki

Nairobi, Kenya: Co-operative Bank Group shareholders at their 10th Annual General Meeting (AGM) held at the Bomas of Kenya has approved a dividend of 80 cents per share, being the same level of pay-out as in the previous year.

The bank has maintained a solid dividend track record on the back of sustained profitability over the years. Year 2017 performance was especially remarkable with the Bank reporting a profit before tax of Sh16.4 billion against a backdrop challenging operating environment, with rate caps, adverse economic effects of drought and the extended electioneering period.