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Barclays Bank of Kenya has defended its decision to reduce the dividend payout during the year financial year ending December 31, 2013. Board chairman Francis Okemo-Okello said the bank had to retain part of the earnings to meet the new Central Bank of Kenya (CBK) guidelines on the minimum capital base.
The bank paid an interim dividend of 20 cents per share last year and will make a final payout of 50 cents per share, bringing the total to 70 cents per share, which the shareholders approved.
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