Nairobi, March 5 -- Stanbic Holdings has raised its dividend payout by 21.8 percent to Sh6.07 billion after the net profit for the year ended December 2023 grew by a third to hit the highest level in the lender's history.

Net profit grew by 34.2 percent to Sh12.16 billion from Sh9.06 billion posted in the preceding year as the interest income and non-funded income increased.

The improved performance saw the Stanbic board recommend a raise in dividend per share from Sh12.60 to Sh15.35 in what will also mark the highest-ever payout in the history of the lender.

The raised dividend per share will see shareholders pocket a total of Sh6.07 billion or 49.9 percent of the net earnings compared with the previous year when it distributed Sh4.98...