KCB Plunges Most in 18 Years on Disappointing Dividend
Signage for KCB Bank Kenya Ltd. in Nairobi.
Photographer: Patrick Meinhardt/BloombergThis article is for subscribers only.
Shares of KCB Group Plc plunged the most in 18 years after Kenya’s biggest bank by assets declared a lower-than-expected dividend.
The stock dropped 9.1% to 40.10 shillings in Nairobi after dropping as much as 21%, the most intraday since 2007. The 3-shilling-a-share dividend that the company declared Wednesday was below the average estimate of 3.83 shillings from three analysts.