Trading activity increased today considerably when compared to its performance yesterday. The NSE 20 Share index declined further down to close the day at 3494.03 points, a level last seen in October 2012 while the NASI gained 2.18 points to end the day at 140.93 points.
The NSE 25 Share index added 34.60 points to settle at 3381.35 points. Market capitalizations grew to KES 2027.83 billion from KES 1996.477 billion previously whilst equity turnover enlarged to KES 0.60 billion from KES0.40 billion earlier due to a 77.48% increase in the volume of shares traded.
Safaricom has declared a special dividend of KES 0.68 per share for the year ending March 31, 2017 to be paid out on or prior to December 1, 2016.This is an additional dividend over and above the KES 0.76 per share for the year ended March 31, 2016 that the board is recommending to shareholders at the annual general meeting on September 2, 2016.
“There is room for this one-off special dividend of KES 27.5 billion due to the cash position of the company, and the significant retained earnings of KES 82billion,” Safaricom chief executive Bob Collymore said. “This is an additional dividend to what we expect to recommend at next year’s AGM for the year ended 31st March 2017.”
Currencies
The Kenya shilling gained albeit slightly against the US dollar owing to the Central Bank decision yesterday which left the benchmark lending rate unchanged as per our earlier expectations which we pegged on the current steady economic environment.
The local currency continued its gains against the Sterling and the Euro as uncertainties in the global economy have increased with Brexit, igniting global financial market volatility and a sharp depreciation of the Sterling Pound.