Safaricom PLC has announced a Sh18 billion dividend to investors for the financial year ended December 2020 which is also equivalent to Sh0.45 per share citing improved financial performance.

The dividend will be paid on or about March 31st to shareholders on record as of March 5.

“This is in recognition of the company’s solid half-year performance and to support our shareholders during these difficult economic times occasioned by the Covid-19 pandemic,” the statement read in part.

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The Kenyan government, which holds 35pc stake in Safaricom will receive Sh6.3 billion, while Vodacom Group Limited and Vodafone Group Plc will split a gross payout of Sh7.2 billion for their combined 40pc stake.

The giant telco recorded a Sh33 billion profit in half-year financial results to September 2020, this was a 6pc drop as compared to the same period in 2019.

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M-Pesa recorded revenue of Sh35.9 billion as compared to Sh42 billion similar the previous year, a year-on-year (YoY)decline of 14.5pc.

The interim dividend has accelerated payouts to shareholders who normally receive the cash distributions once in August or September.