Nairobi, April 7 -- Nation Media Group (NMG) will pay a dividend of Sh1.50 per share as it banks on product innovation business transformation to diversify revenues for long-term sustainability.

The region's leading news organisation will pay shareholders Sh285.4 million in an economic setting where inflation and the worst drought in 40 years have weakened consumer spending.

Its total comprehensive income hit Sh470 million in a year when the weakening of the shilling against the dollar and the doubling of newsprint prices hit earnings.

NMG has hinged its growth on a two-pronged approach that includes enhanced digital-first content and strengthening of the print and broadcast business.

"The Group continues to focus on product innovatio...