Bank of Kigali AGM tomorrow

Bank of Kigali will hold its annual general meeting tomorrow. The board of directors will officially announce the Rwf6b dividend payment for shareholders at the meeting.

Bank of Kigali will hold its annual general meeting tomorrow. The board of directors will officially announce the Rwf6b dividend payment for shareholders at the meeting.

The meeting will also elect new directors, approve auditors and their remuneration, a notice issued by Shivon Byamukama, the company secretary, indicated.

The shareholders will share a total dividend payout of Rwf5.9b for 2012, James Gatera, the Bank of Kigali chief executive officer, said.

This translates to an annual dividend of about Rwf8.83 per share or 4.5 per cent dividend yield, based on the current share price of Rwf195, he added.

Shareholders are expected to register by June 15 if they are to receive their dividend payment on June 28.

Last year, Bank of Kigali shareholders approved a dividend payment policy of 50 per cent for three years, allowing the management to retain half of the net income to reinvest it and expand the business.

 

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