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British American Tobacco Kenya investors approve final dividend of Sh46 per share

BUSINESS
By Lee Mwiti | May 13th 2016

British American Tobacco (BAT) Kenya shareholders approved a final dividend of Sh46 per ordinary share at the company’s 64th Annual General Meeting in Nairobi Thursday.

The final dividend, when added to the interim dividend, takes the total payout to Sh49.50.

“The company delivered strong profit growth in 2015. Our impressive results for the year were driven by revenue growth across each part of our business, including export cigarettes and semi-processed tobacco, and an improved operating margin,” BAT Kenya Chairman George Maina said.

Overall, the firm’s net revenue increased 6 per cent to Sh22.3 billion, while profit before tax was up 17 per cent to Sh7.1 billion.

Managing Director Keith Gretton commended the Government’s implementation of a single-tier excise system, saying it addressed the weaknesses in the previous regime, and would deliver greater certainty in business and sustainable Government revenues.  — Lee Mwiti

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