Shareholders of Equity Group Holdings will earn a total of Ksh 16.1 billion as dividend for the full year period to December 2024.
The pay which is equals to Ksh 4.25 per share follows the Ksh 48.8 billion in profit after tax the bank reported during the year.
The bank says the pay is equivalent to 34pc of earnings which is within is set ratio of 30pc-50pc range, with the rest being retained.
“Despite a complex and evolving macroeconomic landscape in 2024, Equity Group remained resilient, agile, and purpose driven. We strengthened our governance structures across our six markets, aligned with emerging regulatory frameworks, and advanced key strategic initiatives including the successful integration of Cogebanque into Equity Bank Rwanda,” said Prof. Isaac Macharia, Chairman of Equity Group.
During the Annual General Meeting, shareholders also elected six new directors who will join the bank pending approval by the central bank.
The six new board members include Farida Khambata, Nick O’Donohoe, Dr. Aloysius Uche Ordu, Obadiah Barara, Dr. Lakshmi Shyam-Sunder and David Mutombo.
The shareholders further appointed Obadiah Biraro, Dr. Aloysius Uche Ordu, Dr. Lakshmi Shyam-Sunder, and Dr. Evanson Baiya to serve as members of the Board Audit Committee.
The new directors will replace Dr. Edward Odundo, Vijay Gidoomal, Dr. Helen Gichohi, and Samwel Kirubi who have since retired and will serve in various capacities within the group’s subsidiaries.
The bank is also targeting to set up a Representative Office in the United Arab Emirates as the lender seeks to enhance its regional and global connectivity.
“Equity Group continues on a strong growth trajectory, driven by our commitment to innovation, regional expansion, and sustainable practices. The establishment of a Representative Office in the UAE marks an exciting step in our journey to connect Africa with global markets, creating new opportunities for trade and investment,” added Dr James Mwangi, Equity Group Chief Executive Officer.
The bank expects the new office which awaits regulatory approval to facilitate business, trade and investment opportunities between East and Central Africa, the UAE, and the wider Middle East, India, Central and South Asia regions.
