I&M gets Sh457m dividend from Mauritius subsidiary
Nairobi, March 27 -- I&M Group was paid a dividend of Sh457.6 million by its Mauritius subsidiary Bank One in November 2022 following the improved financial performance of the unit in the period.
Bank One, which is owned on a 50/50 basis by the Nairobi Securities Exchange (NSE -listed firm and Mauritian conglomerate CIEL Limited, said that it distributed a total of 320 million Mauritian rupees (Sh915.2 million at present exchange rates) to its owners in the payout.
This equated to a payout of 21.97 rupees (Sh62.83) per share.
"Pursuant to the board meeting held on September 7, 2022, a final dividend of MUR320 million (MUR21.97 per share) was approved for distribution as a dividend to shareholders and was paid in November 2022, out of r...
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