Stima Sacco to make Sh1.2b dividend payout

Stima Sacco Chairman Albert Mugo.

NAIROBI: Stima Sacco has announced a Sh1.2 billion dividend payout to its shareholders. Each shareholder will be paid at 14 per cent per paid up share compared to 12 per cent paid in 2015. The Sacco in its financial results for last year posted a Sh547.36 million pre-tax profit, up from Sh288.84 million in 2015. This represents an 89 per cent growth. During the same period, membership grew by 58 per cent from 55,854 in 2015 to 88,110 last year.

Turnover grew from Sh2.66 billion in 2015 to Sh3.40 billion in the year under review, a growth of 28 per cent. Sacco Chairman Albert Mugo, who is also KenGen Managing Director, attributed the performance to an aggressive growth on the loan portfolio. “Total members’ deposits increased by Sh3.1 billion, a 20 per cent increase in 2016, from Sh15.9 billion in 2015 to Sh19 billion. Alpha deposits increased by Sh2.8 billion while the deposits in the members’ savings accounts rose by Sh457 million,” he said. Lending increased by 29 per cent from Sh16.3 billion in 2015 to Sh21.03 billion last year.