{"id":114660,"date":"2024-03-12T17:22:34","date_gmt":"2024-03-12T17:22:34","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn"},"modified":"2024-03-12T18:17:13","modified_gmt":"2024-03-12T18:17:13","slug":"stanchart-raises-dividend-payout-to-sh10-96bn","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn","title":{"rendered":"Stanchart raises dividend payout to Sh10.96bn"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Standard Chartered Bank shareholders are staring at a windfall after the lender announced a 15 percent rise in dividend for the full year ended December 2023.<\/p>\n

The lender declared a full-year dividend of Sh29 per share for the 2023 financial year, an increase from Sh22 per share in a similar period last year.<\/p>\n

This will comprise of ordinary dividend of Sh23 per ordinary share for the year on top of the Sh6 interim dividend issued in December, representing a dividend payout ratio of 80 percent.<\/p>\n

The announcement comes after the bank reported a net profit of Sh13.84 billion for the period, a year-on-year increase of 14.76 percent.<\/p>\n

\u201cThe Board will be recommending to the shareholders a final ordinary dividend of Sh23.00 per ordinary share for the year. This is in addition to the interim dividend of Sh6 paid in December 2023 – this represents a 32 percent increase,\u201d said StanChart CEO Kariuki Ngari.<\/p>\n

The total dividend payout stands at Sh10.96 billion, constituting 79.4 percent of the net profit, as opposed to the Sh8.31 billion disbursed based on the 2022 net earnings.<\/p>\n

The lender experienced a significant increase in net interest income, rising by 31.96 percent year-on-year to Sh29.32 billion.<\/p>\n

The non-performing loan (NPL) ratio for the bank stood at 9.7 per cent as of December 2023.<\/p>\n

StanChart Chief Financial Officer Chemutai Murgor said that while the figure indicates a slight increase compared to previous periods, it remains manageable, reflecting the bank’s proactive approach to risk management and asset quality.<\/p>\n

Standard Chartered Bank’s loan book expanded to Sh163.16 billion, a notable year-on-year growth of 17.04 percent.<\/p>\n

Murgor added that the lender, one of the oldest in Kenya has also cut its investments in local government bonds by eight percent during the period to Sh108.5 billion.<\/p>\n

The funds were reinvested in loans and advances to customers, which grew by 17 percent. The higher lending was also helped by a rise in customer deposits.<\/p>\n

Net interest income at the bank, which is controlled by Standard Chartered PLC, rose by close to a third, Murgor said, while overall revenue grew by almost a quarter.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Standard Chartered Bank shareholders are staring at a windfall after the lender announced a 15 percent rise in dividend for the full year ended December 2023. The lender declared a full-year dividend of Sh29 per share for the 2023 financial year, an increase from Sh22 per share in a similar period last […]<\/p>\n","protected":false},"author":84,"featured_media":114659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-114660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nStanchart raises dividend payout to Sh10.96bn - kenya<\/title>\n<meta name=\"description\" content=\"Standard Chartered Bank shareholders are staring at a windfall after the lender announced a 15 percent rise in dividend ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stanchart raises dividend payout to Sh10.96bn\" \/>\n<meta property=\"og:description\" content=\"Standard Chartered Bank shareholders are staring at a windfall after the lender announced a 15 percent rise in dividend ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-12T17:22:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-12T18:17:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/03\/sm_1710254516.091735.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Stanchart raises dividend payout to Sh10.96bn\",\"datePublished\":\"2024-03-12T17:22:34+00:00\",\"dateModified\":\"2024-03-12T18:17:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/03\/sm_1710254516.091735.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/stanchart-raises-dividend-payout-to-sh10-96bn\",\"name\":\"Stanchart raises dividend payout to Sh10.96bn - 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