Co-op Bank maintains dividend at 80 cents despite drop in profit

Co-op Bank Chairman John Murugu taking questions from shareholders, flanked by MD Gideon Muriuki. [Courtesy]

Co-operative Bank maintained dividend payout at 80 cents per share, despite a turbulent last financial year.

During its Annual General Meeting (AGM) held Friday in Nairobi, the lender’s shareholders approved this dividend pay-out. The bank’s net profits for 2017 declined to Sh11.4 billion compared to a profit-after tax of Sh12.7 billion reported in 2016.