Safaricom shareholders are in for a treat as the telecommunications giant announces its recommendation for an interim dividend payout of Sh23 billion for the fiscal year ending March 31, 2024.

Despite a slight decrease from last year's figure, the news has left investors smiling with anticipation.

During a recent board meeting held on February 21, 2024, Safaricom's Board unanimously agreed to approve the interim dividend payment of Sh0.55 per ordinary share.

This decision comes as the company remains committed to delivering value to its loyal shareholders.

"The Board of Safaricom is pleased to announce that at its meeting held in February 2024, it resolved to approve the payments of interim dividends of Sh0.55 per ordinary share amounting to Sh23 Billion for the year ending March 31, 2024," stated the official release from the Board.

Last year, shareholders received a slightly higher dividend of Sh0.58 per share during the same period.

However, despite the marginal decrease, investors are optimistic about the company's financial performance and its ability to sustain profitability.

The dividend payout is scheduled to occur around March 31, 2024, with payments disbursed to shareholders who are on the Register of Members as of the close of business on March 15, 2024.

This decision, subject to approval by the Capital Markets, reflects Safaricom's adherence to regulatory standards and corporate governance principles.

As Safaricom continues to navigate the dynamic telecommunications industry, shareholders remain confident in the company's resilience and long-term growth prospects.

The recommendation of the Sh23 billion interim dividend payout reaffirms Safaricom's commitment to rewarding its investors while maintaining financial transparency and accountability.

Safaricom shareholders have reason to celebrate as the company's recommendation of a substantial interim dividend payout demonstrates its unwavering dedication to creating value and fostering trust among its esteemed investors.