Co-op dividend rises as profit hits Sh13 billion

Co-operative Bank Group MD Gideon Muriuki.

The Co-operative Bank (Co-op Bank) will fork out an additional Sh1.2 billion to shareholders after the lender’s board recommended a dividend payment of Sh1 per share.

The 25 per cent increase in dividend payment from 80 cents last year, which is subject to approval by the Capital Markets Authority (CMA), comes on the back of improved profitability.