28 March 2026
KenGen Dividend 2026: KES 0.90 Record — Payment Date, Yield & Investment Guide
The KenGen dividend 2026 has already been paid — KES 0.90 per ordinary share, the highest in KenGen’s history, paid on February 12, 2026. This record KenGen dividend followed a 54% surge in profit after tax to KES 10.48 billion for the financial year ended June 30, 2025. At the current KenGen share price of approximately KES 9.28, the KenGen dividend yield is approximately 9.7% — one of the highest yields among NSE large-cap stocks.
This guide covers the confirmed KenGen dividend 2026 figures, what you earned if you qualified, and whether KenGen makes sense as a dividend investment for the next cycle.
🟢 Updated March 2026 — all KenGen dividend figures confirmed from official KenGen announcement.
KenGen Dividend 2026 — Key Numbers at a Glance
| Metric | Value |
|---|---|
| KenGen dividend FY2025 | KES 0.90 per share ✅ Confirmed |
| Dividend type | First and final (one annual payment) |
| Book close date | November 27, 2025 |
| Ex-dividend date | December 5, 2025 |
| Payment date | February 12, 2026 ✅ Paid |
| KenGen share price | ~KES 9.28 |
| Dividend yield | ~9.7% |
| FY2025 profit after tax | KES 10.48 billion (+54%) |
| Payout ratio | ~56.6% |
| Government stake | 70% — National Treasury |
| NSE ticker | KEGN |
| Next results | FY2026 results expected October/November 2026 |
KenGen Dividend 2026 — What Was Paid
At KenGen’s 73rd Annual General Meeting in Nairobi, shareholders endorsed a first and final dividend of KES 0.90 per ordinary share for the financial year ended June 30, up from KES 0.65 last year. The increase follows a 54% rise in profit after tax, to KES 10.48 billion, driven by cost reductions, expanded revenue streams and an improved foreign exchange position.
The dividend was paid on February 12, 2026, to shareholders who were on the register as of November 27, 2025. The payout marks a 38.4% jump from the prior year’s KES 4.28 billion or KES 0.65 per share.
What the KenGen dividend 2026 paid shareholders:
| Shares | Gross KenGen dividend | Tax (5%) | Net received Feb 2026 |
|---|---|---|---|
| 1,000 | KES 900 | KES 45 | KES 855 |
| 5,000 | KES 4,500 | KES 225 | KES 4,275 |
| 10,000 | KES 9,000 | KES 450 | KES 8,550 |
| 50,000 | KES 45,000 | KES 2,250 | KES 42,750 |
| 100,000 | KES 90,000 | KES 4,500 | KES 85,500 |
The National Treasury, with a 70% stake in KenGen, collected the largest dividend of KES 4.1 billion in the payout.
KenGen Dividend History — Five-Year Track Record
| Year | Dividend per share | Change | Yield at payment |
|---|---|---|---|
| FY2021 | KES 0.35 | — | ~6.5% |
| FY2022 | KES 0.45 | +28.6% | ~7.2% |
| FY2023 | KES 0.50 | +11.1% | ~7.8% |
| FY2024 | KES 0.65 | +30% | ~9.2% |
| FY2025 | KES 0.90 | +38.4% | ~9.7% |
KenGen has grown its dividend every year for five consecutive years — from KES 0.35 in FY2021 to KES 0.90 in FY2025. That is 157% dividend growth over four years, driven by genuine earnings improvement rather than payout ratio expansion.
The increase follows a 54% rise in profit after tax, driven by cost reductions, expanded revenue streams and an improved foreign exchange position.
The Record Behind the KenGen Dividend 2026
54% profit growth drove the record KenGen dividend
KenGen’s FY2025 profit after tax grew 54% to KES 10.48 billion. Three factors drove this growth:
Cost reductions: KenGen’s finance costs declined to KES 2.2 billion from KES 2.8 billion as foreign currency debt became cheaper with the Kenya shilling’s improved position against the dollar, euro, and yen.
Improved foreign exchange position: KenGen has multiple liabilities denominated in foreign currencies. The strengthening of the Kenya shilling in FY2025 directly reduced the cost of servicing these loans, flowing straight to profit.
Expanded revenue streams: KenGen’s geothermal consultancy has grown into a significant revenue line, with active projects in Ethiopia, Djibouti, Eswatini, and international markets. These high-margin consultancy revenues supplement core electricity generation income.
The government dividend significance
The National Treasury, with a 70% stake in KenGen, collected the largest dividend of KES 4.1 billion in the upcoming payout. This government dependency on KenGen dividends creates a structural incentive for government policy to support KenGen’s profitability — one of the most important factors in the sustainability of the KenGen dividend over the long term.
KenGen Dividend Yield — How It Compares to NSE Peers
KenGen’s dividend yield is 9.7%, which is in the top 25% of dividend payers in the Kenyan market.
| Stock | Dividend | Yield | Payout ratio | Government backing |
|---|---|---|---|---|
| Standard Chartered | ~KES 45.00 | ~13.3% | 123% | None |
| KenGen | KES 0.90 | ~9.7% | ~56.6% | 70% Treasury |
| KCB Group | KES 7.00 | ~9.2% | ~33% | None |
| COOP Bank | KES 2.50 | ~8.3% | ~35% | Partial |
| Stanbic Holdings | KES 22.35 | ~8.8% | 64% | None |
| Equity Group | KES 5.75 | ~7.8% | 29% | None |
KenGen’s 9.7% yield ranks second on the NSE after Standard Chartered — but with fundamentally different risk profiles. Standard Chartered’s 123% payout ratio means it is paying out more than it earns. KenGen’s dividend payments are covered by earnings with a reasonable payout ratio of 56.6% and well covered by cash flows with a cash payout ratio of 43.4%.
The combination of 9.7% yield, 56.6% payout ratio, 70% government ownership, and 54% profit growth makes the KenGen dividend one of the most compelling risk-adjusted income propositions on the NSE.
Is the KenGen Dividend Sustainable?
Three factors support sustainability:
Government ownership provides structural protection. With a 70% government stake, KenGen’s dividend is effectively a government revenue stream. The Treasury received KES 4.1 billion from this single dividend. Any policy that threatens KenGen profitability directly harms government revenue — making regulatory interference extremely unlikely.
Payout ratio of 56.6% is conservative. KenGen retains 43.4% of its profit for investment — funding the 252MW near-term pipeline without needing to cut dividends. KenGen is advancing its long-term G2G 2034 Strategy, which targets 1,500 megawatts of new renewable capacity and 500MWh of energy storage. This investment programme is funded from retained earnings — not at the expense of dividends.
Cash flow coverage is strong. With its reasonably low cash payout ratio of 43.4%, KenGen’s dividend payments are well covered by cash flows.
The risk to monitor:
KenGen’s profit is significantly affected by foreign exchange movements. The FY2025 profit growth was partly driven by the Kenya shilling’s strength against major currencies reducing foreign debt costs. If the shilling weakens significantly in FY2026, financing costs could rise and reduce profit — potentially compressing the FY2026 dividend.
KenGen Share Price and Investment Case
Current share price: approximately KES 9.28 52-week range: KES 4.61–10.50 1-year gain: approximately +100% (from KES 4.61 to above KES 9)
At a market price of 9.18, the dividend offers a 9.8% yield — the highest among NSE large-caps at the time of the announcement.
KenGen as a dividend investment — the honest assessment
Who should buy KenGen: Investors who want high yield (9.7%) backed by government ownership and a 56.6% payout ratio. At KES 9.28 per share, KES 10,000 buys approximately 1,078 shares — earning approximately KES 927 net annually in dividends (after 5% withholding tax). KenGen is the most accessible high-yield stock on the NSE — 100 shares costs only KES 928.
The entry price consideration: KenGen has already rallied approximately 100% from its 52-week low of KES 4.61 to above KES 9. At KES 9.28, new buyers are entering after a significant rally — exactly as with KCB, Equity, and Safaricom. The yield of 9.7% remains attractive but is not exceptional for someone who waited versus the 20%+ yield available at KES 4.61.
Below KES 8.50: yield exceeds 10.6% — strong buy KES 8.50–9.50: yield 9.5–10.6% — attractive — current rangeAbove KES 10: yield falls below 9% — fair value only
How to Buy KenGen Shares
KenGen is available on the NSE under ticker KEGN. You need a CDS account and a licensed broker or investment app.
At KES 9.28 per share, minimum 100 shares costs approximately KES 928 plus brokerage fees — the most accessible high-yield dividend stock on the NSE.
Via Mali App or Hisa App: Search KEGN → buy from KES 500 Via traditional broker: Minimum KES 5,000 typical
See our How to Invest in NSE Kenya 2026 guide for the complete CDS account setup process.
KenGen FY2026 Dividend — What to Expect Next
The KenGen dividend for FY2026 (financial year ending June 30, 2026) will be announced at the AGM expected October/November 2026, with payment approximately January/February 2027.
KenGen enters 2026 with a near-term project pipeline of 252MW, including the 63MW Olkaria I Rehabilitation, the 42.5MW Seven Forks Solar project and the expansion of the 8.6MW Gogo Power plant in Migori county. These projects are expected to increase generation capacity and revenue — supporting continued dividend growth.
FY2026 KenGen dividend estimate: KES 0.95–1.05 per share, based on continued profit growth from the expanding generation portfolio and geothermal consultancy revenues. This would represent approximately 5–17% growth over the FY2025 KES 0.90.
FAQ
What is the KenGen dividend per share in 2026? The KenGen dividend 2026 is KES 0.90 per ordinary share — confirmed at the 73rd AGM in December 2025 and paid February 12, 2026. This is a record payout — 38.4% higher than the prior year’s KES 0.65.
When is the KenGen dividend paid? The KenGen FY2025 dividend of KES 0.90 was paid February 12, 2026 to shareholders on the register as of November 27, 2025. KenGen pays one annual dividend after its financial year ends June 30. The FY2026 dividend will be paid approximately January/February 2027.
What is KenGen’s dividend yield in 2026? At the current share price of approximately KES 9.28, the KenGen dividend yield is approximately 9.7% — the highest yield among NSE large-cap stocks after Standard Chartered.
Is the KenGen dividend safe? Yes — KenGen’s payout ratio of 56.6% is conservative, cash flow coverage is strong at 43.4% cash payout ratio, and 70% government ownership provides structural protection. The main risk is foreign exchange movements affecting financing costs.
How do I qualify for the next KenGen dividend? Buy KenGen shares (NSE: KEGN) before the ex-dividend date for the FY2026 dividend — expected approximately November/December 2026. The book close and payment dates will be announced with FY2026 results in October/November 2026. See our NSE Dividend Calendar 2026 for updates.
KenGen dividend KES 0.90 confirmed from official KenGen announcement December 2025. Payment date February 12, 2026 confirmed. Share price approximately KES 9.28 as at March 2026. All yield calculations based on confirmed figures. This article is for educational purposes only and does not constitute financial advice.
Related guides:
- Best Kenyan Stocks 2026 — KenGen ranked vs KCB, Equity and Safaricom
- NSE Dividend Calendar 2026 — all upcoming dividend dates
- Top NSE Dividend Stocks Kenya 2026 — full yield rankings
- How to Invest in NSE Kenya 2026 — buy KenGen from KES 928