Car & General to Pay Ksh 64M in Dividends After Bounce-Back Year
Car & General shareholders will receive a Ksh 64.2 million dividend payout for the financial year ending December 2024. The board-approved dividend of Ksh 0.80 per share was ratified during the company’s virtual Annual General Meeting held Thursday.
The decision comes as the company recovered from a Ksh 273 million loss posted in the previous year to report a gross profit of Ksh 526 million.
Speaking during the meeting, Chief Executive Officer Vijay Gidoomal acknowledged the difficult operating environment but credited the turnaround to diversification and stronger financial controls.
“The key to our success has been improving efficiency across all operations, protecting market share in our main product lines, and boosting productivity,” he stated.
Car & General operates in multiple sectors, including automotive and equipment distribution, real estate, financial services, poultry, and helmet manufacturing. The company said this business mix helped stabilize performance amid local market constraints, particularly in the boda boda sector.
The company’s turnover for 2024 stood at Ksh 21 billion. While economic uncertainty remains due to ongoing global geopolitical challenges, the firm expects more stable conditions in East Africa.
Gidoomal said the company’s wide footprint across the region and balanced portfolio will support future growth. “This diversity, combined with our regional presence, underpins our long-term sustainability,” he said.
The AGM also confirmed leadership changes. Shareholders approved the retirement of board member Madabhushi Soundararajan, who served for 17 years. Nikhil Rustam Hira was appointed as an Independent Non-Executive Director.
The firm said it remains committed to improving value for shareholders while navigating economic headwinds in 2025.
