Safaricom and Banks Account for 80% of NSE Dividends Paid to Shareholders

Safaricom and 12 listed banks accounted for 80.2 per cent of the total dividends paid by companies listed on the Nairobi Securities Exchange (NSE) in the latest full financial year, highlighting the growing concentration of dividend income among Kenya’s largest blue-chip companies.

The companies collectively paid shareholders KSh197.2 billion out of the total KSh245.9 billion distributed by dividend-paying firms during the period, according to data reported by Business Daily.

Safaricom alone accounted for KSh80 billion, making it the largest dividend payer on the NSE. The telecoms company increased its dividend per share to KSh2, comprising an interim dividend of KSh0.85 and a final dividend of KSh1.15.

The increase followed a 37 per cent rise in net profit to KSh95.6 billion for the year ended March 2026, allowing the company to maintain its policy of distributing 80 per cent of net profit to shareholders.

Banks Dominate the Remaining Payouts

The banking sector accounted for much of the remaining dividend value, with KCB Group and Equity Group leading among lenders at KSh22.5 billion and KSh21.7 billion respectively.

They were followed by Co-operative Bank of Kenya at KSh14.7 billion, Standard Chartered Bank Kenya and NCBA Group at KSh11.7 billion each, and Absa Bank Kenya at KSh11.1 billion.

Stanbic Holdings, I&M Group, BK Group and Diamond Trust Bank also paid significant amounts to shareholders.

By comparison, the other 21 companies that paid dividends distributed a combined KSh48.7 billion, meaning Safaricom alone paid out substantially more than all those companies combined.

Outside the banks and Safaricom, East African Breweries, BAT Kenya and KenGen recorded some of the largest payouts, distributing KSh10.04 billion, KSh7 billion and KSh4.94 billion respectively.

Dividend Stocks Remain Attractive to Investors

The concentration of dividend payments reflects the strong profitability and established shareholder-return policies of Kenya’s largest listed companies.

It has also coincided with a strong recovery in NSE share prices. The exchange has added about 42 per cent, or KSh1.23 trillion, in market capitalisation this year, with Safaricom and listed banks accounting for approximately 74 per cent of that increase.

Several banks have also increased their interim dividends for the first half of 2026. KCB, for example, raised its interim dividend per share from KSh2 to KSh3 after reporting a 14.2 per cent increase in half-year net profit.

The trend reinforces the importance of established blue-chip companies to investors seeking regular income from the Kenyan equities market.

However, the growing foreign ownership of several major listed companies also means that a portion of these dividend payments ultimately flows to overseas shareholders.

As Safaricom, banks and other profitable blue-chip companies continue to dominate the NSE's dividend landscape, their earnings performance will remain an important influence on investor returns and market valuations.