Kina Asset Management Ltd (KAML) has announced a historic interim dividend of 20 toea per share for the half-year ending 30 June 2024, following a strong net profit of K9.9 million. This record dividend marks a significant increase from the 12 toea per share dividend declared for the same period last year.
With the latest dividend declaration, KAML will distribute a total of K10.14 million to its shareholders. Since initiating dividend payments in 2009, the company has paid out an aggregate of 84 toea per share, amounting to K41.12 million in total dividends.
The 20 toea interim dividend for 2024 reflects a remarkable yield of 15.26% based on the current share price of K1.31. Furthermore, shareholders can expect a strong total return on equity of 66.7%, combining the dividend with capital gains of 40 toea per share, based on the share price of K1.30 as of 30 June 2024.
KAML’s Acting Chairman, Syd Yates, expressed satisfaction with the company’s robust performance in the first half of 2024, stating,
“The Board is pleased with the financial strength of KAML, which allows us to declare this record dividend for our shareholders. This dividend is a testament to our commitment to providing returns while balancing investment and managing our balance sheet effectively.”
Key Dates:
- Ex-Dividend Date: 24 September 2024
- Record Date: 26 September 2024
- Payment Date: 24 October 2024
Additionally, KAML is inviting current shareholders to participate in the company’s Dividend Reinvestment Plan (DRP). This cost-effective option enables shareholders to increase their investment in Kina Asset Management Ltd. Shares issued under the DRP will be based on the net tangible asset backing per share, with pricing communicated in a separate notice preceding the Record Date.