Kiharu Member of Parliament Ndindi Nyoro will pocket Sh32.3 million from Kenya Power after the electricity distributor hiked its dividend payout for the year ended June 2026 by 50 percent.
The MP is the top individual investor in Kenya Power with a stake of 1.1 percent being 21.5 million shares.
Kenya Power announced a final dividend of Sh1.20 per share which combined with an interim payout of Sh0.30, brings its full year distribution to Sh1.50 per share up from Sh1 per share paid for the prior year.
Mr Nyoro has been harvesting capital gains from the growth of the utility’s share price with regular cuts to his stake which he had accumulated when the counter was trading at lows of Sh1.58 per share in 2023. This implies the latest dividend payout is nearly equivalent to the MP’s investment in the stock.
Between February and April this year, Mr Nyoro disposed of 2.57 million shares valued at approximately Sh44.24 million working with the then trading price of Sh17.2 per share.
Mr Nyoro’s stake is currently valued at Sh491.3 million based on Friday’s closing price of Sh22.75 per share. The Kiharu MP had accumulated 32.5 million shares of the company at much lower prices to emerge as the top individual shareholder with a stake valued at Sh51.3 million at the end of June 2023 when the share price was Sh1.58.
The stake, if left unchanged, would now be valued at Sh739.3 million.
Mr Nyoro is among investors who have benefitted from Kenya Power’s return to profitability and incremental dividend payouts, indicating the potential gains for those who bet on low-priced equities in anticipation of a change in tide.
Other politicians including leader of majority at the National Assembly Kimani Ichungwa, Thika MP Alice Ng’ang’a and former chairman of United Democratic Alliance (UDA) Anthony Mwaura also took positions in Nairobi Securities Exchange-listed firms in the wake of Mr Nyoro’s reported gains.
Other individual shareholders in Kenya Power include Nehemia Ikuah with 12.2 million shares, Carl Ogola with 10.5 million shares and the Hirani Family which has a combined 22.4 million shares.
The National Treasury is the majority shareholder in the utility firm with a 50.09 percent stake which will see it receive Sh1.46 billion in dividends.
The listed electricity distributor hiked its payout to shareholders by 50 percent despite a slower growth in net profit of 2.1 percent to Sh24.9 billion in the year to June 2026.
‘In recognition of this continued improvement, an interim dividend of Sh0.30 per ordinary share was paid during the year. Building on this momentum, the Board is pleased to recommend a final dividend of Sh1.20 per ordinary share for the year ended 30 June 2026,’ said Kenya Power in a statement.
The utility’s electricity sales jumped 12 percent to 12,777 Gigawatt-hours (GWh) in the year under review compared to 11,403GWh a year ago but this did not translate to a similar growth in revenue amid a reduction in the base tariff across all consumer categories.
Electricity revenue rose 8.6 percent to Sh238.24 billion with the slow growth attributed mainly to the year-on-year drop in base tariffs for all consumers, meaning that the revenue yield per kilowatt-hour of power sold was lower compared to the year ended June 2025.