Car & General quadruples dividend on profit jump

Car & General quadruples dividend on profit jump

Capital Markets

Car & General quadruples dividend on profit jump

Thursday January 06 2022 carg

Mr Vijay Gidoomal (left), Car and General chief executive officer, and board chairman Mr Nicholas Nganga. FILE PHOTO | NMG

bonface_img By BONFACE OTIENO
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Summary

  • The company had paid a dividend of Sh0.8 per share for the prior year. The new proposed distribution will be made on March 24 to shareholders on record as of February 25.
  • C&G more than tripled its net income to Sh887.2 million as revenue surged 41.4 percent to Sh17.1 billion.

Diversified trading group Car & General #ticker:CGEN is quadrupling its dividend payout to Sh3.2 per share besides proposing a one-for-one bonus share after posting strong results for the year ended September.

The company had paid a dividend of Sh0.8 per share for the prior year. The new proposed…

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