Aga Khan Fund leads Jubilee's Sh145m interim dividend as half-year profit rises 13pc

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Jubilee Holdings Ltd shareholders are set to receive an interim dividend of Sh145 million for the half-year ended June 2026, after the insurer posted a 12.7 per cent rise in net profit to Sh3.45 billion.

The board declared an interim dividend of Sh2.00 per share, maintaining the same payout as the previous year.

The dividend will be paid on or about October 8, 2026 to shareholders on the register as at September 7, 2026.

With 72,472,950 issued shares, the total interim distribution amounts to Sh145 million.

Aga Khan Fund for Economic Development tops the list of beneficiaries, holding 27,528,739 shares, a 37.98 per cent stake.

The fund is in line to receive approximately Sh55.1 million from the interim payout, cementing its position as Jubilee's dominant shareholder.

Pyrus Investments Limited, the second-largest shareholder with a 10.60 per cent holding or 7,682,480 shares, is set to pocket approximately Sh15.4 million.

Other major beneficiaries include Stanbic Nominees Ltd (3.32 per cent stake) or 2,405,923 shares, entitled to approximately Sh4.8 million and SCB Nominee (2.99 per cent) or 2,170,495 shares, entitled to approximately Sh4.3 million.

Freight Forwarders Kenya Ltd with (2.95 per cent) or 2,138,827 shares, is entitled to approximately Sh4.3 million.

United Housing Estates Ltd (1.81 per cent)  with 1,314,947 shares, is entitled to approximately Sh2.6 million.

Adam's Brown and Company Ltd with (1.79 per cent) 1,294,830 shares, is entitled to approximately Sh2.6 million, while Investments & Mortgages Nominees with (0.67 per cent) or 482,203 shares is entitled to approximately Sh0.96 million.

Meanwhile, Igrowth Fund Unit Trust Scheme with (0.65 per cent or 468,300 shares) is entitled to approximately Sh0.94 million, while iTrust Finance Ltd (0.55 per cent) or 395,292 shares is entitled to approximately Sh0.79 million.

The top 10 shareholders collectively hold 63.31 per cent of the company, representing 45,882,036 shares, and will share approximately Sh91.8 million of the interim dividend.

The remaining 26,590,914 shares held by other investors will receive approximately Sh53.2 million.

Net profit rose to Sh3.45 billion from Sh3.06 billion, while total assets expanded 9 per cent to Sh272.7 billion.

Insurance revenue edged up 1 per cent to Sh16.9 billion, with the Life business growing 14 per cent, partly offset by a deliberate focus on profitable portfolios in the Health business.

The insurance service result declined 60 per cent to Sh445 million, reflecting higher claims and medical inflation, though the Life business posted a 52 per cent increase.

The Asset Management business continued its strong growth, with retail assets under management more than doubling year-on-year by 116 per cent to Sh33 billion, while overall assets under management grew 18 per cent.

The business was recognised as the Fastest Growing Retail Asset Management Company in 2026 by the Global Banking & Finance Awards.

Chairman Zul Abdul said the results reflect the resilience of the business and the solid foundation being built for long-term growth.

"The Group's performance in the first half of the year reflects the resilience of our business and the progress we are making in executing our strategy," Mr Abdul said. "Our priority remains to invest with purpose, deploy capital where it creates the greatest value and build a more resilient company that delivers lasting value for our customers and shareholders."

The company, which has never paid a lower dividend than the previous year since its listing in 1984, continues to reward its more than 6,293 shareholders with consistent returns.