Sasini to pay Ksh.114M dividends after profit rise

The 50 cents per share payout is payable on or before March 15 to shareholders in the firm’s books on February 22 and takes the total dividend payable to the shareholders to Ksh.1 per share.

Sasini’s profit for the year rose to reach Ksh.573.2 million from a mere Ksh.12.6 million in 2020 on the back of greater revenues and fair value gains in the value of biological assets held.

The company says its tea production volumes remained within expectations while the mechanisation of harvesting has been a key driver to cost containment.

“The Group’s performance showed resilience evidenced in increased turnover compared to the prior year driven by a combination of improved prices in some commodities, depreciation of the Kenyan shilling, good weather conditions for growing resulting in higher coffee volumes and cost containment measures within the Group,” the company said in a trading statement.

Sasini expects the Group’s improved liquidity to anchor its business plans going forward amidst the stay of COVID-19 effects.

The firm registered revenues of Ksh.5.3 billion from Ksh.4.1 billion in September 2020 while fair value gains on assets stood at Ksh.317.3 million from a loss of Ksh.47.4 million in the preceding year.

Subsequent to the profitability surge, Sasini’s earnings per share have improved to Ksh.2.49 per share from 0.7 cents in September 2020.