Kenya Electricity Generating Company PLC (KenGen) has announced a significant milestone, disbursing Sh545.2 million to its 190,748 private shareholders.

This payout, representing 30 per cent of its stockholder base, underscores the company's commitment to rewarding its investors.

The disbursement is part of an approved Sh1.98 billion dividend allocation for the fiscal year ending June 30, 2023, which stood out as one of the highest allocations since the Rights Issue of 2016.

KenGen's impressive performance is attributed to a profit after tax of Sh5.2 billion in the last financial year, marking a remarkable achievement for the company.

Speaking on the success, KenGen Board Chairman Julius Ogamba highlighted the pivotal role played by strong business fundamentals, an innovation-driven culture, and a robust expansion strategy in achieving such commendable results.

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Ogamba emphasized the company's financial strength, noting a significant 14 per cent surge in revenue, which reached Sh53.96 billion.

This substantial increase underscores KenGen's resilience and ability to thrive amidst evolving market dynamics.

Echoing Ogamba's sentiments, KenGen Managing Director and CEO, Peter Njenga, reiterated the company's strategic priorities for 2024.

Njenga emphasized a strong focus on leveraging new technologies to enhance electricity generation using existing power plants.

He stressed KenGen's unwavering commitment to meeting the escalating demand for clean energy in Kenya through various initiatives, including power plant rehabilitation and asset upgrading.

Njenga reiterated, "We understand the central catalytic role energy plays in our country's economic development."

He further emphasized KenGen's dedication to not only meeting the surging energy demand but also providing sustainable green energy solutions to Africa.

Beyond electricity generation, KenGen is venturing into new domains, including geothermal consultancy and the establishment of a green energy park in Olkaria, aimed at further enhancing its revenue streams and contributing to sustainable energy development.

With this robust performance and strategic vision, KenGen continues to solidify its position as a key player in Kenya's energy sector, driving growth, innovation, and sustainability while empowering its shareholders with substantial returns on investment.