Kiharu MP Ndindi Nyoro stands to earn about KES 32.3 million in dividends from Kenya Power for the financial year that ended on 30 June 2026. Kenya Power’s board has set the full-year payout at KES 1.50 a share, up 50% from KES 1.00 a year earlier. Nyoro held 21.5 million shares at the end of June, a 1.1% stake that makes him the company’s largest individual shareholder.
Kenya Power (KPLC) buys electricity in bulk from generators and sells it to homes and businesses. It is listed on the Nairobi Securities Exchange (NSE), and the National Treasury owns 50.1% of it.
Where the KES 1.50 comes from
The dividend has two parts. Kenya Power paid an interim dividend of KES 0.30 a share on 27 March 2026 to shareholders on its register on 23 February. The board has now recommended a final dividend of KES 1.20 a share, which shareholders must approve at the annual general meeting (AGM).
Kenya Power’s corporate events calendar, which the company labels tentative, puts the AGM on 27 November 2026, the register closure for the final dividend on 30 November and payment on 29 January 2027.
The KES 32.3 million figure is 21.5 million shares multiplied by KES 1.50. The cash Nyoro receives will differ. The interim was paid on whatever he held on 23 February, and he sold 2.57 million shares between February and April 2026. The final KES 1.20 goes to whoever holds the shares on the closure date, so it comes to KES 25.8 million only if he keeps all 21.5 million until then. And the figure is gross. Dividends paid to resident individuals carry a 5% withholding tax, which the Kenya Revenue Authority treats as a final tax. At that rate, KES 32.3 million becomes about KES 30.6 million.
What paid for the bigger dividend
Kenya Power’s profit after tax rose 2.13% to KES 24.99 billion. Electricity revenue rose KES 18.96 billion to KES 238.24 billion. The company sold 12,777 gigawatt-hours (GWh) of electricity, 12% more than the 11,403 GWh a year earlier, and connected 411,710 new customers.
Distribution and transmission efficiency, the share of electricity bought that reaches paying customers, improved from 78.79% to 81.42%. Finance costs fell KES 1.64 billion to KES 3.08 billion as the company paid down loans.
Earnings per share came to KES 12.81, so the dividend pays out about 11.7% of profit and Kenya Power keeps the rest. Managing director Joseph Siror listed grid automation, smart metering, revenue protection and digital customer services among its priorities. Customers will judge the digital part on basics such as buying tokens, which failed for hours in July after a nationwide outage.
Across roughly 1.95 billion shares, the payout totals about KES 2.93 billion, of which the Treasury gets about KES 1.47 billion. Kenya Power resumed dividends at KES 0.70 a share for the year to June 2024, its first payout since 2017, and paid KES 1.00 for 2025.
How Nyoro built the stake
Nyoro bought most of his Kenya Power shares when the stock traded below KES 2, and held 32.5 million of them at the end of June 2023. In July 2025 he said his average buying price was about KES 1.89 a share and that he had spent around KES 56 million.
He has sold shares as the price climbed. He held 30 million at the end of December 2024, 26.9 million at the end of June 2025 and 21.5 million at the end of June 2026.
Kenya Power closed at KES 22.75 on Friday, 18 September, which values his 21.5 million shares at about KES 489 million. At his stated average price, those shares cost about KES 40.6 million. One year’s dividend on them is roughly 80% of what he paid.
What it means for other shareholders
The per-share rate is the same for everyone. An investor with 1,000 Kenya Power shares gets KES 1,500 gross for the year, or KES 1,425 after withholding tax. Since February, M-PESA users have been able to buy NSE-listed shares, Kenya Power included, through Ziidi Trader, which we covered at launch.
To receive the KES 1.20 final dividend, an investor has to be on the register when it closes. NSE trades settle three working days after the deal, so buying on the closure date is too late. The AGM notice, due on 4th November 2026 according to the calendar, will confirm the dates.
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