BusinessNews

Equity Group to pay a record divided of Sh 4 out of Sh 11 earnings per share.

Equity Group has proposed a record dividend of Kshs.15.1 billion for a second year running, equivalent to Kshs 4.00 dividends out of Kshs 11.10 earnings per share, which is a 36% payout.

The Group registered Kshs 43.7 billion profit after tax during FY 2023, driven by net interest income growth of 21% to Kshs.104.2 billion up from Kshs.86 billion while non-funded income registered an impressive 30% growth to Kshs.75.9 billion up from Kshs 58.3 billion.

Gross trade finance revenue grew by 90% to Kshs.11 billion from Kshs 5.8 billion driven by a 106% growth of trade finance related lending and 26% growth of trade finance guarantees and off-balance sheet items.

Equity also emerged as a regional financial services leader with 50% of assets, 51% of revenue and 56% of profit before tax being contributed by regional banking subsidiaries.

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