Kenya Power and Lighting Company (KPLC) has declared an interim Dividend Payout for the first time in 9 years, after it posted a record-breaking profit increase in the six months ending December 2024.
Driven by reduced finance costs, increased electricity sales, and lower costs of sales, the company, reported a 3025.4 Percent profit increase.
This remarkable performance has prompted the company to declare an interim dividend of KSh 0.20 per share, marking the first dividend payout in nine years.
The utility company reported a net profit of KSh 9.97 billion, a substantial jump from the KSh 319 million recorded in a similar period in 2023.
The company attributes this surge in profitability to various factors, including improved revenue collection, cost-cutting measures, the strengthening of the Kenya Shilling against major global currencies, and an optimized power generation mix.
Kenya Power recorded a 5% increase in electricity unit sales, rising from 5,225 GWh in 2023 to 5,506 GWh in 2024. This growth is attributed to:
1. Higher electricity consumption across households, industries, and businesses as economic activity picked up post-pandemic.
2. An improved distribution network, leading to better power reliability.
3. New customer connections, facilitated by the availability of essential materials such as meters and transformers.
