Banking sector dominates NSE dividend season as sixteen listed firms line up billions for shareholders

Kenya’s banking industry is once again cementing its dominance as the engine of shareholder returns on the Nairobi Securities Exchange (NSE), with at least seven banks among sixteen listed companies that have declared or announced dividends in what is shaping up to be one of the busiest pay-out seasons of 2026.

The declarations, compiled by ABC Capital, a stockbroker and member of the NSE since 1954, show payments scheduled between April and July 2026, with the banking sector leading both in number of firms paying out and in aggregate value distributed to shareholders.

Standard Chartered Bank Kenya (SCBK) tops the banking pack with a final dividend of Ksh 23.00 per share, book closure set for April 30, and payment due May 30. NCBA Group Plc follows with Ksh 4.60 per share payable May 26, while ABSA Bank Kenya Plc declared Ksh1.85 per share due May 14, both closing their registers on April 30, 2026.

Stanbic Holdings Plc declared a final dividend of Ksh 18.55 per share with a book closure date in mid-May 2026, though payment remains subject to shareholder approval, a caveat that sets it apart from every other firm on the list. Diamond Trust Bank Kenya (DTB) and Equity Group Holdings Plc both closed their registers on May 22, 2026, with DTB offering Ksh 9.00 per share payable June 26, and Equity declaring Ksh 5.75 per share due June 30, 2026.

I&M Holdings Plc, whose register closed on April 16, declared a final dividend of Ksh 2.25 per share set for payment on May 21, 2026.

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Outside banking, British American Tobacco Kenya (BAT Kenya) declared the single largest per-share pay-out on the entire list with a final dividend of Ksh 60.00 per share, with a book closure date of May 8, and payment due June 12, 2026, underscoring the tobacco manufacturer’s reputation as one of Kenya’s most generous dividend-paying counters.

Kakuzi Plc declared a final dividend of Ksh 16.00 per share payable May 29, 2026. Jubilee Holdings Ltd declared Ksh 13.00 per share due July 24, while BOC Kenya declared Ksh 10.35 per share payable July 21, 2026.

East African Breweries Ltd (EABL) stands out as the only firm paying an interim rather than a final dividend, declaring Ksh 4.00 per share with a payment date of April 30, 2026, a signal of mid-year profit confidence ahead of its full-year results.

CIC Insurance Group Plc declared a modest final dividend of Ksh 0.13 per share payable June 9, with its register having closed on April 23, 2026. The NSE itself declared a final dividend of Ksh 1.00 per share due July 31, as did Kenya Re at Ksh 0.15 per share on the same date. Laptrust Imara I-REIT declared Ksh 0.41 per share, payable April 30, 2026.

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Kenyan banks have historically maintained high pay-out ratios, distributing a significant portion of their profits to shareholders, driven by strong capitalisation and a regulatory environment that, while requiring minimum capital buffers, allows well-managed institutions to reward shareholders generously.

The dividend season unfolds as Kenyan equities remain sensitive to global capital flows, domestic interest rate policy, and the health of the regional economy, with dividends expected to account for a significant portion of total shareholder returns in The Exchange Africa

Investors are advised to verify their position against the respective book closure dates, as only shareholders on the register by those dates qualify for the declared pay-outs. Stanbic Holdings shareholders will be watching closely, as that pay-out is the only one on the list still awaiting formal approval

By Benedict Aoya

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