Safaricom shareholders on Friday approved a record Sh80.13 billion dividend payout for the financial year ended March 31, 2026, after endorsing a final dividend of Sh1.15 per share at the company's Annual General Meeting.
The total dividend for the year stands at Sh2.00 per share, including an interim dividend of Sh0.85 per share paid in March 2026, making it the largest payout in Safaricom's history.
The announcement comes as Safaricom's market value has continued to grow, rising from Sh1.10 trillion at the close of the financial year to Sh1.44 trillion in the weeks leading up to the AGM.
"This has been a defining year for us. We marked 25 years of connecting and driving transformation through our services and community involvement. We did this while delivering our strongest financial performance yet," said Dr Peter Ndegwa, Group CEO, Safaricom PLC.
For three consecutive years, Safaricom maintained its dividend as it absorbed the cost of expanding into Ethiopia and navigated the impact of the Ethiopian birr's depreciation following foreign exchange reforms in 2024.
The company said the higher payout reflects improved performance, with Safaricom Ethiopia now on course to break even in the coming financial year.
The final dividend will be paid on or about September 4, 2026, to shareholders on the register as of August 4, 2026.
Including this year's distribution, Safaricom will have paid shareholders approximately Sh280 billion in cumulative dividends over the past five years.
Under its Vision 2030 strategy, the company says it plans to transform from a traditional telecommunications operator into a technology company by expanding artificial intelligence capabilities, growing broadband and 4G/5G coverage, increasing smartphone access and strengthening M-PESA and other financial services.
"We were equally pleased to note the completion of the transaction increasing Vodacom Group's shareholding in Safaricom this year. It deepens a partnership that goes back to our earliest years, and gives us access to the scale, expertise and regional reach of one of Africa's leading technology groups as we build towards 2030," said Adil Khawaja, Chairman of the Board, Safaricom PLC.
The AGM also approved changes reflecting Vodacom Group's increased 55 per cent stake in Safaricom.
The Government of Kenya retains 20 per cent, while the investing public holds the remaining 25 per cent. Shareholders also re-elected Edward Okaro to the board and re-appointed Ernst & Young as the company's external auditors.