Family Bank shareholders have approved a dividend payout of 85 cents per share for the 2024 financial year.
Family Bank Chairman Lazarus Muema says Ksh 1.1 billion has been set aside for the dividend payout, representing a 53oc increase dividend payout from 2023.
“As a Bank, we are deeply grateful to our shareholders for their unwavering support and confidence in our decisions as we continue to balance sustainable returns with long-term capital growth as we gear to attain Tier 1 status,” said.
During the Annual General Meeting, shareholders approved a distribution of Ksh 723 million.
Muema says this year’s pay-out follows a 38pc surge in profit after tax, which closed at Ksh 3.4 billion for the year ended 2024.
Family Bank Chief Executive Officer Nancy Njau stated that the Bank is committed to strengthening its position in the market, adding that the bank’s strategy is to place strong emphasis on innovation, digital transformation, customer-centricity, data-driven decision-making, and sustainable growth.
“As we embark on the next phase of growth, we remain committed to building on our achievements while addressing the evolving needs of our customers. Our new strategy places strong emphasis on innovation, digital transformation, customer-centricity, data-driven decision-making, and sustainable growth, all aimed at positioning the Bank as the Preferred Bank for Biashara,” she added.
