Shareholders of top tier lender Co-operative Bank approved a dividend of Sh1.00 per share during the annual general meeting on Thursday. The dividend totals a cash payment of Sh5.9 Billion, the highest payout to shareholders since the listing of the Bank on the Nairobi Securities Exchange in December 2008. The biggest beneficiaries will be longstanding shareholders especially the lender's majority shareholder Co-op Holdings Co-operative Society, which will earn Sh3.79 Billion. The Chairman of Co-opholding Co-operative Society Macloud Malonza applauded the Co-operative financial system which serves more than 22,000 Saccos. The Society has a 64.5 per cent stake in Co-operative Bank as a strategic shareholder representing Kenya’s Co-operative Movement.

Source: The Star May 25, 2019 01:52 UTC