Jubilee Holdings shareholders to pocket Ksh 1.1B in dividend pay

jubilee

Jubilee Holdings shareholders will walk away with a total of Ksh 1.1 billion as dividend payout for the full year period ended December 2021.

This follows the approval by shareholder during the virtual 2021 Annual General Meeting (AGM) held Wednesday confirming the board’s recommendation of a final dividend of Ksh 13 per share.

The insurer says confirmation now brings the total dividend payout during the period to Ksh 14 which includes special dividend of Ksh 5 issued on the backdrop of profit growth.

The firm recorded a 66pc growth in profit before tax, from Ksh 5.1 billion in 2020 to Ksh 8.4 billion last year.

The profit growth was attributed to the sale of 66pc majority stake in the firms’ general insurance business by German insurance giant Allianz, in a deal worth Ksh 11 billion.

Jubilee Holdings expects to earn an estimated Ksh 7.7 billion from the sale of the general insurance business in Tanzania and Burundi which was completed in the first half of 2022 and Mauritius which will be completed in the next few months.

During the AGM, Chairman Nizar Juma said the firm has embarked on a digital transformation agenda dubbed Changamk@, which will see the firm invest Ksh 450 million annually for the next 5 years in new technologies such Robotics, Cloud Migration, Artificial Intelligence, enhanced CRM, and data capabilities

“Retaining the regional leadership position over the years is only possible when we prioritise our customers and proactively innovate to align and deliver value to their changing needs and expectations. Our digital transformation will offer more meaningful engagement and value to all our stakeholders,” Juma.

In 2021,the group’s total assets increased by Ksh 9 billion to Ksh 155 billion from Kshs 146 billion in 2020.

  

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