Nairobi-headquartered financial services holding company Jubilee Holdings has announced a record dividend payout of KES978m ($7.6bm) for the 2024 financial year.
Shareholders approved a final dividend of KES11.50 per share at the company’s 87th Annual General Meeting in Nairobi on 30 May. Combined with the interim dividend of KES2.00 per share already paid out, the total dividend stands at Sh13.50 per share—the highest in Jubilee’s history.
“We are proud to deliver this return to our shareholders. It reflects both our strong performance and our optimism for the future,” said Jubilee Holdings group chairman Mr Zul Abdul.
Jubilee Holdings reported a pre-tax profit of KES6.2bn. Gross written premiums rose by 34% to KES53bn, while insurance revenue jumped by 14% to KES25.7bn.
The group’s CEO Julius Kipngetich credited the financial results to the group’s market leadership in medical insurance across Kenya, Uganda, and Tanzania.
Jubilee Holdings, whose business comprises mainly insurance, has subsidiaries in Kenya, Uganda, Tanzania, Burundi, and Mauritius.