Kenya Electricity Generating Company shareholders will earn more this year after the power generator reported a 54 per cent increase in net earnings.
Shareholders endorsed a first and final dividend of Sh0.90 per ordinary share for the financial year, up from Sh0.65 last year, after gaining Sh10.48 billion in profits, driven by cost reductions, expanded revenue streams, and an improved foreign exchange position.
KenGen’s chairman, Alfred Agoi, said the payout reflects confidence in the company’s financial fundamentals and long-term strategy.
“This dividend uplift is not only a reflection of strong financial results but a reaffirmation of KenGen’s commitment to delivering value to shareholders,’’ Agoi said.
He added that the firm is optimizing efficiency, diversifying revenue sources and unlocking new growth opportunities in the region.
“Our goal is to secure long-term returns while driving Kenya’s clean energy transition.”
During the financial year, Kenya’s broader economic environment remained resilient, with steady growth in agriculture and industry and rising electricity demand.
National power consumption reached record highs in November, as peak demand climbed to 2,418.77MW and energy dispatch hit 44,555.80MWH (megawatt-hours), underscoring increased industrial activity.
KenGen anchored the national grid, supplying roughly 60 per cent of the country’s electricity. It installed capacity stands at 1,786MW, which generated 8,482GWh over the past financial year.
The firm reported Sh56.1 billion in revenue while income from diversified activities surged 235 per cent, buoyed by geothermal consultancy contracts in Eswatini and expanded regional work.
Operating costs declined 11 per cent to Sh35.1 billion as the company tightened cost controls and improved operational efficiency.
