Shareholders of Co-operative Bank Group have ratified a dividend of Sh1.00 per share for 2019, same level they were paid the previous year. They yesterday also endorsed the acquisition of 90 per cent shareholding by Co-op Bank in Jamii Bora Bank (now trading as Kingdom Bank). Following the regulatory guidance by the Capital Markets Authority (CMA), the 2019 dividend amounting to a total of Sh5.9 billion was paid out in April. The listed lender’s net profit was Sh14.3 billion up from Sh12.7 billion in 2018. It has reported a Sh7.2 billion net profit in the half-year results 2020, with a pre-tax profit of Sh9.6 billion.

Source: The Star October 22, 2020 15:00 UTC