Kiharu MP Ndindi Nyoro is set to receive about Sh32.3 million in dividends from Kenya Power after the electricity distributor proposed a 50 per cent increase in its full-year payout.
Nyoro, who is reported to be the utility’s largest individual shareholder, holds about 21.5 million Kenya Power shares, equivalent to a 1.1 per cent stake, according to Business Daily. At the proposed dividend of Sh1.50 per share, his gross payout would amount to roughly Sh32.25 million.
The proposed payout marks a significant increase from the Sh1.00 per share distributed for the previous financial year.
Kenya Power has proposed a final dividend of Sh1.20 per share, following an interim payment of Sh0.30 per share made during the year. If approved by shareholders, the combined dividend for the financial year ended June 2026 will rise to Sh1.50 per share.
The final dividend is yet to be approved at the company’s annual general meeting.
Profit rises modestly
The larger payout comes as Kenya Power reports another profitable year, although the increase in earnings was relatively modest.
The company reported Sh24.99 billion in profit after tax for the financial year ended June 30, 2026, up 2.13 per cent from about Sh24.47 billion a year earlier.
Total revenue rose to Sh238.24 billion, while electricity sales increased by 12.05 per cent to 12,777 gigawatt-hours.
Kenya Power said it added 411,710 new customers during the year. Distribution and transmission efficiency also improved from 78.79 per cent to 81.42 per cent.
Finance costs fell by 34.68 per cent to Sh3.08 billion, helped by lower outstanding loan balances.
Kenya Power managing director and chief executive, Dr Joseph Siror, said the improvement in the company’s financial position had strengthened its balance sheet and created room for continued investment in the electricity network.
Treasury to receive larger payout
The National Treasury remains Kenya Power’s majority shareholder, with a 50.09 per cent stake.
Based on the proposed Sh1.50-per-share distribution, Treasury would receive about Sh1.46 billion, according to Business Daily.
Nyoro’s payout is considerably smaller in absolute terms but stands out because of his position as the utility’s largest individual shareholder.
Other shareholders will receive the same dividend per share, with the total amount depending on the size of their holdings.
What the dividend means for investors
The proposed increase gives shareholders a higher cash return from the company after another year of profitability.
But the dividend should not be confused with gains or losses from movements in Kenya Power’s share price. Nor does a higher payout this year guarantee a similar distribution in the future.
For Nyoro, the proposed Sh32.3 million represents the gross dividend associated with his reported 21.5 million shares. The final amount received may differ after applicable taxes and once the final dividend is approved and paid.
For Kenya Power, the payout comes as the company seeks to build on stronger electricity sales, lower financing costs and improvements in its financial position.
The proposed dividend therefore reflects both the utility’s return to sustained profitability and the growing value of its shareholder base.
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