Jubilee announces final dividend pay

Jubilee Holdings Ltd has announced a total dividend of Sh652.3 million of Sh9 per share for the financial year ended December 2019.

The firm will also release a final dividend payout of Sh579.8 million of Sh8 per share tomorrow. This is expected to offer relief to many shareholders who have borne the ravages of Covid-19.

Jubilee Holdings Ltd Group Chairman Nizar Juma (pictured) said the company has consecutively paid a higher dividend to shareholders each year.

“We are proud that Jubilee Holdings has demonstrated its solid financial ground and stood by its shareholders, and not lowered the dividend payout, despite the current difficulties caused by the Covid-19,” said Mr Juma.

The company has also rescheduled its 2020 Annual General Meeting (AGM) to a later date this year, after obtaining approval, occasioned by the challenges posed by the Covid-19 pandemic with regard to the physical conduct of AGMs.

“As part of its business recovery plan during this period, Jubilee Holdings has enhanced its distribution channels with the recent rollout of its fully digitised online platforms to allow its customers to continue to purchase or renew their motor, medical and travel insurance products conveniently and with policies delivered electronically,” a report from the company read.

The firm said the recent purchase of a further 9.44 per cent interest in Bujagali Energy Ltd valued at Sh4.8 billion from SN Power, is part of the group’s diversification into investments that are hedged in dollars to protect capital and provide better returns.

The Bujagali project, commissioned in 2012, is one of the successful public-private pacts in the power sector.