Shareholders of the Kenya Electricity Generating Company (KenGen) have approved a final dividend of Sh0.75 per ordinary share for the financial year ended June 30, 2026, during the company's 74th Annual General Meeting.
The dividend was approved at the virtual meeting held on Thursday, October 29, 2026, alongside the adoption of the company's audited financial statements and other resolutions concerning its governance and board operations.
The payment will be made to shareholders holding ordinary shares valued at Sh2.50 each, subject to withholding tax where applicable.
The approval comes as the state-owned electricity generator continues to account for a significant share of Kenya's electricity supply, with its financial performance and shareholder returns remaining key issues for investors.
During the meeting, shareholders also approved the directors' remuneration report and payment of directors' fees for the financial year ended June 30, 2026.
They further noted that the audit of the company's books of account would continue to be undertaken by the Auditor-General or an audit firm appointed by the Auditor-General, in accordance with Section 23 of the Public Audit Act, 2015.
The shareholders also authorised the directors to determine the remuneration of the auditors.
The resolutions received overwhelming support from participating shareholders, with the published results showing approval rates above 99 per cent for the resolutions presented.
In a separate election process, shareholders elected two directors to represent holders of Class A ordinary shares on the company's board.
Dr Waititu Jemmimah Nyambura and Kennedy Kubasu emerged as the successful candidates following a vote conducted during the AGM.
Dr Nyambura garnered 198,937,421 votes, while Kubasu received 195,747,924 votes.
They were elected ahead of six other candidates who contested the two positions.
The other candidates included Dr Edward Owino Odundo, who received 25,034,442 votes, Florence Wambugu Wabaiya with 21,617,632 votes, and Tom Otieno Odongo, who garnered 8,342,355 votes.
Yvonne Munguti Mutheu received 6,623,019 votes, Nathalie Ngatia Waruiru received 5,026,426 votes, George Obiria Mokua garnered 2,282,530 votes, Teresia Maina received 1,547,534 votes, while Jacob Ochieng Omondi received 1,485,000 votes.
The company also announced five directors appointed by the National Treasury, which holds the Class B ordinary shares.
They are William Rahedi, Engineer Frank Konuche, Rebecca Kudate, Professor Engineer John Mosonik and Dr Abubakar Ketemon Lewano.
The AGM further addressed the composition of the board's Audit, Risk and Compliance Committee.
Shareholders approved the continued service of William Rahedi, Professor Engineer John Mosonik, Kennedy Ondieki and Engineer Frank Konuche as members of the committee, with Konuche's continued membership subject to his re-election to the board.
In another governance decision, shareholders approved revised Articles of Association to align the company's constitutional documents with the Companies Act, 2015, and applicable corporate governance practices.
The revised articles were approved in place of the company's existing Memorandum and Articles of Association.
The resolutions and election results were announced by the company secretary and General Manager for Legal Affairs, FCS Austin Ouko, on behalf of the board.
The meeting was conducted virtually through electronic means, allowing shareholders to participate in the consideration of the company's financial statements, dividend proposal and board appointments.
The AGM marks an important part of KenGen's annual corporate governance process, through which shareholders review the company's performance, approve financial and governance matters and participate in the selection of directors.