- KenGen has announced a record dividend payout of KSh 4.3 billion to its shareholders for the year ended June 30, 2024.
- KenGen Chairman Alfred Agoi attributed the company’s success to enhanced electricity generation, operational efficiencies, and prudent financial management.
Kenya Electricity Generating Company PLC (KenGen) has announced a record dividend payout of KSh 4.3 billion to its shareholders for the year ended June 30, 2024.
The dividend includes a substantial disbursement of KSh 3 billion to the Government of Kenya, the company’s majority shareholder, marking a 117 per cent per-share increase over the previous year.
The announcement was made during a joint press conference held at Stima Plaza in Nairobi, where KenGen Chairman Alfred Agoi and Managing Director and CEO Peter Njenga presented a dummy cheque to the National Treasury and Economic Planning Cabinet Secretary (CS) John Mbadi.
The payment follows an earlier distribution of 30 per cent, amounting to approximately KSh 1.3 billion, paid to private and institutional shareholders on February 13, 2025.
John Mbadi commended KenGen for its solid financial performance, highlighting its stability, cost efficiency, and reliability in energy supply.
“We are immensely proud of KenGen as a model of excellence for the National Treasury. Their work is vital for our country’s economic performance, and we will continue to support new projects through funding from development partners,” said Mbadi.
Echoing these sentiments, State Department for Energy Principal Secretary (PS) Alex Wachira praised KenGen’s consistency in delivering profits year after year. He noted that the National Treasury would continue supporting new projects in geothermal, hydro, solar, and wind energy to access funding from development partners.
KenGen Chairman Alfred Agoi attributed the company’s success to enhanced electricity generation, operational efficiencies, and prudent financial management. The CEO, Peter Njenga, emphasised the company’s ability to balance short-term shareholder returns with long-term investments in Kenya’s energy future.
He added that favorable public policies, robust partnerships, and a conducive regulatory framework have significantly contributed to the company’s performance. The increased dividend payout is expected to boost investor confidence in KenGen shares, reaffirming the company’s position as one of the top dividend-paying stocks on the Nairobi Securities Exchange (NSE).
The Government of Kenya holds a 70 per cent stake in the NSE-listed firm, while private investors own the remaining 30 per cent.