Kenya Power Declares Interim Dividend, Bouyed by Strong Shilling
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Kenya’s state-run power utility will pay an interim dividend for the first time in nine years after the local currency strengthened, slashing its loan repayment costs. Shares jumped as much as 33%.
Finance costs for Kenya Power & Lighting Co. plunged by 13 billion shillings ($100 million) in the first half, enabling it to pay a 0.20 shilling dividend per share, according to earnings released on Thursday. That follows the full-year dividend of 0.70 shillings the company declared in October.