 dividend at the company's 18th Annual General Meeting){kind=link}
Safaricom PLC shareholders approved a record KES 80.13 billion ($621 million) dividend at the company’s 18th Annual General Meeting, lifting the annual payout after three years of holding it steady while the telecom operator funded its expansion into Ethiopia.
The final dividend of KES 1.15 ($0.009) per share, approved on Friday, brings the total dividend for the financial year ended March 31, 2026, to KES 2.00 ($0.015) per share, following an interim dividend of KES 0.85 paid in March. It is the largest annual dividend distribution in the company’s history.
The higher payout follows Safaricom’s strongest financial performance to date and reflects improving confidence in its Ethiopian business, which the company expects to break even during the current financial year after years of heavy investment and currency-related headwinds.
“This has been a defining year for us. We marked 25 years of connecting and driving transformation through our services and community involvement. We did this while delivering our strongest financial performance yet,” Group Chief Executive Officer Dr. Peter Ndegwa said.
Safaricom maintained its dividend for three consecutive years as it absorbed the costs of entering Ethiopia and navigated the impact of the Ethiopian birr’s depreciation following foreign exchange reforms introduced in 2024. The expected turnaround in Ethiopia removes one of the biggest drags on group earnings as the company enters the first year of its Vision 2030 strategy.
Investor confidence has strengthened alongside the improving outlook. Safaricom’s shares rose 50.3% during the financial year, lifting its market capitalization to KES 1.10 trillion (about $8.5 billion) by March 31. The stock has continued to gain, pushing the company’s market value to approximately KES 1.44 trillion ($11.2 billion) ahead of the annual meeting.
The final dividend will be paid on or about September 4, 2026, to shareholders on the register at the close of business on August 4. Including this year’s distribution, Safaricom will have returned approximately KES 280 billion ($2.17 billion) to shareholders over the past five years.
As part of its Vision 2030 strategy, Safaricom is seeking to evolve beyond its traditional telecommunications business into a broader technology company, with investments in artificial intelligence, digital financial services, expanded broadband infrastructure, wider 4G and 5G coverage, and increased smartphone adoption across its markets.
Board Chairman Adil Khawaja said the company also completed a restructuring that increased Vodacom Group’s stake in Safaricom to 55% following the acquisition of an additional 15% interest from the Government of Kenya and an internal reorganization. The Government of Kenya now owns 20%, while public investors hold the remaining 25%.
Shareholders also re-elected Edward Okaro to the board, reappointed Ernst & Young as external auditors and approved resolutions required to formalize the revised ownership structure.
Safaricom serves more than 72 million customers across Kenya and Ethiopia and generated KES 414 billion ($3.21 billion) in service revenue during FY2026. Its M-PESA platform processed KES 41.68 trillion (about $323 billion) in transactions and generated KES 182.7 billion ($1.42 billion) in revenue, reinforcing its position as Africa’s largest mobile money platform and one of the continent’s biggest fintech businesses.