Nyoro dances to the bank as KPLC declares over Sh500 million dividends
Business
By
Brian Ngugi
| Feb 05, 2026
Thousands of retail investors in Kenya Power and Lighting Company (KPLC), led by Kiharu Member of Parliament Ndindi Nyoro, are set for a windfall after the utility posted a 4.3 per cent rise in half-year net profit and declared a higher interim dividend.
Kenya Power’s board has declared a dividend of 30 cents per share, a 50 per cent increase from 20 cents for a single share paid last year.
This follows a net profit of Sh10.40 billion for the six months that ended in December, up from Sh9.97 billion in the same period a year earlier.
The payout marks a continued return to rewarding shareholders after years of restructuring by the electricity utility. While the government, with a 50.1 per cent stake, is the largest beneficiary receiving Sh293.3 million, focus has turned to individual investors who will share the remaining Sh292.14 million.
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Leading the retail segment is Nyoro, who has solidified his position as the company’s largest individual shareholder. His 26.9 million shares entitle him to Sh8.07 million from the earned profits, according to the company’s 2025 Integrated Annual Report.
He is followed by high-net-worth investor Savani Amarjeet Baloobhai, set to receive Sh6.18 million. The dividend boom stems from improved operational efficiency.
Electricity sales rose by 6.9 per cent to Sh114.87 billion, driven by a 10.5 per cent increase in unit sales to 6,086 gigawatt-hours. Distribution efficiency improved to 77.97 per cent. The company also cut its borrowings by six per cent to Sh84.23 billion, reducing finance costs that had previously eroded the profits.
“This performance reflects continued momentum in strengthening our balance sheet,” said Kenya Power Managing Director Joseph Siror. “We are now in a position to create long-term value for the shareholders who have stood by us.”