Sharp Daily
No Result
View All Result
Tuesday, June 3, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

EAPCC resumes dividend payments after 13-Year hiatus

Faith Ndunda by Faith Ndunda
December 2, 2024
in News
Reading Time: 2 mins read

East Africa Portland Cement Company (EAPCC) has declared dividend payout of KES 1.0 per share translating to a total dividend payout of KES 90.0 million, marking the first time the company has announced dividends since 2011. This development comes after the company posted a profit of KES 1.0 billion in the financial year ended in June 2024.

The company incurred a loss of KES 1.3 billion in the financial year ended in June, 2023. In August, 2024 Richard Mbithi, the chairman of the company’s board of directors stated that the dividend payout was necessary to restore the faith in shareholders while hoping to maintain the payout in future through company profits. Following the losses in the financial year ended June 2023, EAPCC came up with a plan to maximize profits by selling some of its assets like the extensive land in Athi River. The revenue from the sale was expected to finance the dividend payouts as well as upgrade the factory.

On 15th March, 2024 the Managing Director (MD), Oliver Kirubai initiated a 25-day shutdown branded as turnaround maintenance shutdown. The aim of the shutdown was to enhance production capacity by replacing machinery and to obtain operational efficiency. The development was facilitated by the land sale. The KES 400.0 million upgrade led to a reported increase in monthly cement production to 50,000 tonnes as of August 2024 from the previous monthly average of 20,000 tonnes. Generally, the turnaround maintenance program was key in ensuring operational efficiency while maximizing output. The program, as well as the sale of land and brand repositioning, were pivotal in EAPCC reaching a breakeven point and attaining profits.

The future plan for maximizing production capacity and profits is by reinvesting the revenue from the assets sales in expansion.

RELATEDPOSTS

High Court blocks Obodha’s appointment amid legal dispute

January 3, 2025

East African Portland Cement denies shutdown reports, assures normal operations

December 20, 2024

 The payments are proposed to start in February, 2025. The shareholders are encouraged to register for the payout by the end of business on 31st December, 2024. The government with a 52.3% stake and Lafarge with a 41.7% stake, combined with a stake of over 90% will be the biggest beneficiaries of the dividend payout, with the two shareholders receiving KES 47.1 million and KES 37.5 million respectively. The other stakeholders are expected to receive KES 5.4 million from the dividend payout.

Previous Post

Before investing, build your financial safety net

Next Post

Mobile money and social media propel black friday growth in Kenya

Faith Ndunda

Faith Ndunda

Related Posts

News

Co-op Bank posts KES 6.9 billion profit in Q1’2025

May 16, 2025
Agriculture And Economy
News

Lets get Kenya out of FATF list

May 9, 2025
News

The downside of Impact Investing

May 2, 2025
News

Leadership challenges at the University of Nairobi

April 24, 2025
News

Easter eggs and earnings: Growing your nest egg with CMMF

April 16, 2025
News

Geoffrey Ruku declares KES 377M net worth during CS vetting

April 15, 2025

LATEST STORIES

Navigating the money market and fixed income funds landscape

June 3, 2025

Best investments for Kenyan seniors: Secure, predictable & low-risk

May 30, 2025

Why June is the Secret Sweet Spot for Travel

May 30, 2025

Strategies to elevate more women to corporate leadership

May 30, 2025

Tap on Kenya’s 2025 tech revolution

May 30, 2025

How CURBS supports employers and employees

May 30, 2025

NSE deserves more attention from young investors

May 29, 2025

The silent strain of remote work on Kenya’s urban workforce

May 29, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024