Co-op Bank declares pioneer interim dividend as profit Sh22b

Co-op Bank MD Gideon Muriuki. [Courtesy]

Co-operative Bank of Kenya (Coop Bank) has declared its first-ever interim dividend, signalling robust financial health and confidence in its future outlook after posting a Sh21.6 billion profit after tax for the first nine months of this year. The tier one lender, Kenya’s third-largest by assets, reported a 12.3 per cent rise in profit after tax to Sh21.6 billion, up from Sh19.2 billion in the same period last year.

The board declared an interim dividend of Sh1 per share. The lender has until now maintained a single annual dividend payout since its listing in December 2008.