27 March 2026
Equity Bank vs KCB vs Standard Chartered Dividend 2026: Which Pays You More?
Equity Bank vs KCB vs Standard Chartered — three of Kenya’s biggest dividend-paying bank stocks, all posting record results, all paying significant dividends in 2026. But which one actually puts more money in your M-Pesa account? This guide compares the Equity Bank vs KCB vs Standard Chartered dividend head-to-head using confirmed FY2025 figures — yield, payout safety, payment dates, and exactly how much each stock earns per KES 100,000 invested.
🟢 Updated March 26, 2026 — all dividend figures confirmed from official results.
Equity Bank vs KCB vs Standard Chartered — Quick Verdict
| Equity Bank | KCB Group | Standard Chartered | |
|---|---|---|---|
| Ticker | EQTY | KCB | SCBK |
| Total dividend FY2025 | KES 5.75 | KES 7.00 | ~KES 45.00 |
| Current share price | ~KES 74.00 | ~KES 78.25 | ~KES 338 |
| Dividend yield | ~7.8% | ~9.2% | ~13.3% |
| Payout ratio | 29% | ~33% | ~123% |
| FY2025 profit growth | +55% | +11% | -38% |
| Dividend safety | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐ |
| Best for | Income + growth | High yield + safety | Maximum yield — monitor risk |
One-line verdict before the detail: KCB pays the safest high yield. Equity offers the strongest earnings growth. Standard Chartered offers the highest yield — with the highest risk.
Equity Bank vs KCB vs Standard Chartered — Confirmed Dividend Figures
Equity Group (EQTY) — KES 5.75 Total FY2025
Equity Group declared a record KES 5.75 per share dividend for FY2025 — a 35.3% increase from KES 4.25 in FY2024. This followed the most profitable year in Kenyan corporate history — net profit of KES 75.5 billion, a 55% increase.
Equity Bank dividend 2026 payment structure:
- No interim dividend (Equity pays final only)
- KES 5.75 total annual dividend — paid in one lump sum
- Book close: approximately June 2026
- Payment: approximately July 2026
- Withholding tax: 5% for Kenyan residents
KCB Group (KCB) — KES 7.00 Total FY2025
KCB declared a record KES 7.00 per share dividend for FY2025 — a 133% increase from KES 3.00 in FY2024. KCB’s profit grew 11% to KES 68.4 billion. Total assets crossed KES 2.15 trillion.
KCB dividend 2026 payment structure:
- KES 4.00 interim — already paid November 2025
- KES 3.00 final — book close April 2, 2026 ⚠️ Buy by March 27
- Payment: approximately May 22, 2026
- Withholding tax: 5% for Kenyan residents
Standard Chartered Kenya (SCBK) — ~KES 45.00 Total FY2025
Standard Chartered declared KES 8.00 interim dividend paid October 2025. The final dividend for FY2025 is pending announcement. Based on prior year patterns and the KES 37.00 final paid in FY2024, the total FY2025 dividend is estimated at approximately KES 45.00 — giving a yield of approximately 13.3% at the current share price of approximately KES 338.
Standard Chartered dividend 2026 payment structure:
- KES 8.00 interim — paid October 2025
- Final dividend — pending announcement (expected April/May 2026)
- Total estimated: ~KES 45.00 per share
- Withholding tax: 5% for Kenyan residents
Equity Bank vs KCB vs Standard Chartered — Head-to-Head on Every Metric
1. Which Pays the Highest Dividend Yield?
| Bank | Dividend | Share price | Gross yield | Net yield (5% WHT) |
|---|---|---|---|---|
| Standard Chartered | ~KES 45.00 | ~KES 338 | ~13.3% | ~12.6% |
| KCB Group | KES 7.00 | KES 78.25 | ~9.2% | ~8.7% |
| Equity Group | KES 5.75 | KES 74.00 | ~7.8% | ~7.4% |
Standard Chartered wins on yield — 13.3% is the highest of any major NSE bank stock. But yield alone never tells the full story. See the payout ratio comparison below before making any decision based on yield.
2. Which Has the Safest Dividend — Equity Bank vs KCB vs Standard Chartered?
The payout ratio — dividends as a percentage of net profit — is the most important indicator of dividend safety. A payout ratio below 50% is conservative. Above 100% means the company is paying out more than it earns.
| Bank | Net profit FY2025 | Total dividend paid | Payout ratio | Safety assessment |
|---|---|---|---|---|
| Equity Group | KES 75.5 billion | ~KES 21.8 billion | 29% | ⭐⭐⭐⭐⭐ Safest |
| KCB Group | KES 68.4 billion | ~KES 22.5 billion | ~33% | ⭐⭐⭐⭐⭐ Very safe |
| Standard Chartered | KES 12.4 billion | ~KES 17.1 billion | ~123% | ⭐⭐ Paying more than earned |
Equity Bank wins on dividend safety by a wide margin.
Equity’s 29% payout ratio means it pays out less than one third of its profits — retaining 71% for growth. The dividend could survive a 70% fall in profits and still be paid at current levels. This is the most defensible payout structure on the NSE.
KCB’s 33% payout ratio is nearly as conservative — the dividend could survive a 60% profit fall.
Standard Chartered’s 123% payout ratio means it is paying out more in dividends than it earned in FY2025. FY2025 profit fell 38% to KES 12.4 billion. The company is funding part of the dividend from reserves rather than current earnings. This is unsustainable if profit falls again in FY2026.
3. Equity Bank vs KCB vs Standard Chartered — Profit Trend
The profit trend tells you whether the dividend is growing or at risk.
| Bank | FY2024 profit | FY2025 profit | Change | FY2026 outlook |
|---|---|---|---|---|
| Equity Group | KES 48.8 billion | KES 75.5 billion | +55% | Strong |
| KCB Group | KES 61.6 billion | KES 68.4 billion | +11% | Stable |
| Standard Chartered | KES 20.0 billion | KES 12.4 billion | -38% | Watch closely |
Equity Bank wins on profit momentum decisively.
A 55% profit jump is exceptional. This is not a one-year anomaly — it reflects structural improvements in cost efficiency (cost-to-income ratio fell from 58.2% to 51.0%), regional expansion generating record returns in DRC, Uganda, and Rwanda, and digital adoption with over 88% of transactions now digital.
KCB’s 11% growth is solid — a bank of KCB’s size growing 11% annually is healthy performance.
Standard Chartered’s 38% profit decline is the critical concern behind the 13.3% yield. When profit falls 38% but dividends are maintained, the payout ratio explodes above 100%. If profit falls for a second consecutive year in FY2026, a dividend cut becomes likely.
4. How Much Each Stock Earns Per KES 100,000 Invested
This is the number that matters most to income investors.
Equity Group at KES 74.00 per share:
- KES 100,000 buys approximately 1,351 shares
- Gross annual dividend: 1,351 × KES 5.75 = KES 7,768
- Withholding tax (5%): KES 388
- Net annual income: KES 7,379
- Net yield: 7.4%
KCB Group at KES 78.25 per share:
- KES 100,000 buys approximately 1,278 shares
- Gross annual dividend: 1,278 × KES 7.00 = KES 8,946
- Withholding tax (5%): KES 447
- Net annual income: KES 8,499
- Net yield: 8.5%
Standard Chartered at KES 338 per share:
- KES 100,000 buys approximately 296 shares
- Gross annual dividend: 296 × KES 45.00 = KES 13,320
- Withholding tax (5%): KES 666
- Net annual income: KES 12,654
- Net yield: 12.7%
On raw income per KES 100,000 invested: Standard Chartered wins — but with significant risk attached. On income with safety: KCB earns KES 8,499 net with a 33% payout ratio — the best risk-adjusted income.
5. Equity Bank vs KCB vs Standard Chartered — Dividend History
| Year | Equity DPS | KCB DPS | StanChart DPS |
|---|---|---|---|
| FY2022 | KES 3.00 | KES 2.00 | ~KES 35.00 |
| FY2023 | KES 3.50 | KES 3.00 | ~KES 40.00 |
| FY2024 | KES 4.25 | KES 3.00 | ~KES 45.00 |
| FY2025 | KES 5.75 | KES 7.00 | ~KES 45.00 (interim + final est) |
| Growth (3yr) | +92% | +250% | ~+29% |
KCB wins on dividend growth rate — 250% growth over three years from KES 2.00 to KES 7.00 is extraordinary. KCB’s dividend growth reflects genuine earnings recovery and payout ratio expansion from an unusually conservative base.
Equity’s 92% dividend growth is the second strongest — backed by consistently growing profits.
Standard Chartered’s dividend growth has been slower and is now at risk of reversal following the 38% profit decline.
Equity Bank vs KCB vs Standard Chartered — Upcoming Payment Dates
| Bank | Next payment | Amount | Book close | Urgency |
|---|---|---|---|---|
| KCB Group | ~May 22, 2026 | KES 3.00 final | April 2, 2026 | 🔴 Buy by March 27 |
| Standard Chartered | ~April/May 2026 | Final TBA | TBA | 📊 Watch announcement |
| Equity Group | ~July 2026 | KES 5.75 total | ~June 2026 | More time — no rush |
KCB is the most urgent. The book close is April 2 — six days away. See our KCB Dividend 2026 guide for complete payment details.
Standard Chartered final announcement is expected imminently — the KES 8.00 interim was paid October 2025 and the final is typically announced March/April. Check standardchartered.com/ke and nse.co.ke when announced. See our Standard Chartered Dividend 2026 guide.
Equity has the most time — book close approximately June 2026 gives you three months to buy. See our Equity Bank Dividend 2026 guide.
Equity Bank vs KCB vs Standard Chartered — Earnings Tables Side by Side
Net income per shareholding at each bank — after 5% withholding tax
Equity Bank (KES 5.75 dividend):
| Shares | Investment at KES 74 | Gross dividend | Tax (5%) | Net dividend |
|---|---|---|---|---|
| 500 | KES 37,000 | KES 2,875 | KES 144 | KES 2,731 |
| 1,000 | KES 74,000 | KES 5,750 | KES 288 | KES 5,463 |
| 2,000 | KES 148,000 | KES 11,500 | KES 575 | KES 10,925 |
KCB Group (KES 7.00 total / KES 3.00 final remaining):
| Shares | Investment at KES 78.25 | Gross total dividend | Tax (5%) | Net total |
|---|---|---|---|---|
| 500 | KES 39,125 | KES 3,500 | KES 175 | KES 3,325 |
| 1,000 | KES 78,250 | KES 7,000 | KES 350 | KES 6,650 |
| 2,000 | KES 156,500 | KES 14,000 | KES 700 | KES 13,300 |
Standard Chartered (KES ~45.00 estimated total):
| Shares | Investment at KES 338 | Gross total dividend | Tax (5%) | Net total |
|---|---|---|---|---|
| 100 | KES 33,800 | KES 4,500 | KES 225 | KES 4,275 |
| 200 | KES 67,600 | KES 9,000 | KES 450 | KES 8,550 |
| 500 | KES 169,000 | KES 22,500 | KES 1,125 | KES 21,375 |
Standard Chartered total dividend pending final announcement — update when confirmed at standardchartered.com/ke
Which Should You Buy — Equity Bank vs KCB vs Standard Chartered?
Buy KCB if:
You want the best combination of high yield and dividend safety. At 9.2% yield with a 33% payout ratio and 11% profit growth, KCB offers more net income per KES 100,000 than Equity at lower risk than Standard Chartered. KCB also pays twice per year — November and May — spreading your income across two payments. Act by March 27 for the April 2 book close.
Buy Equity Bank if:
You want income backed by the strongest earnings growth on the NSE. Equity’s 29% payout ratio is the most conservative of the three — the dividend could survive a 70% profit fall. The 55% FY2025 profit growth signals the dividend will continue growing at double-digit rates. At KES 74 with analyst targets of KES 87–132 there is also significant capital appreciation potential alongside the 7.8% income yield.
Buy Standard Chartered if:
You understand and accept the 123% payout ratio risk and want maximum current income. At 13.3% yield, KES 100,000 earns approximately KES 12,654 net annually — significantly more than KCB or Equity. The risk is real — a second consecutive year of profit decline could force a dividend reduction. Only buy Standard Chartered if you actively monitor the position and have confirmed the final dividend amount before purchasing.
The portfolio approach — own all three:
| Allocation | Bank | Rationale |
|---|---|---|
| 50% | KCB Group | Highest safe yield, twice-yearly payments |
| 35% | Equity Group | Best earnings growth, safest payout |
| 15% | Standard Chartered | Maximum yield kicker — actively monitored |
This allocation generates a blended yield of approximately 9.0% net with a diversified risk profile — no single bank represents more than half the portfolio.
Equity Bank vs KCB vs Standard Chartered — Risk Comparison
| Risk factor | Equity | KCB | Standard Chartered |
|---|---|---|---|
| Dividend cut risk | Very low | Very low | Medium-high |
| Profit growth | +55% — accelerating | +11% — stable | -38% — declining |
| Payout ratio | 29% | 33% | 123% |
| Geographic risk | DRC, Uganda, Rwanda | South Sudan, DRC | Concentrated Kenya |
| Regulatory risk | Moderate | Moderate | M-Pesa separation TBA |
| Second year profit risk | Low | Low | Real |
FAQ
Which Kenyan bank pays the highest dividend in 2026 — Equity vs KCB vs Standard Chartered?
Standard Chartered pays the highest yield at approximately 13.3% — but with a 123% payout ratio after a 38% profit decline. KCB pays 9.2% with a 33% payout ratio — the highest safe yield. Equity pays 7.8% with a 29% payout ratio — the safest dividend on the NSE.
Is KCB or Equity Bank a better dividend stock in 2026?
For maximum current income: KCB at 9.2% yield earns more per KES invested than Equity at 7.8%. For dividend safety and growth: Equity’s 29% payout ratio and 55% profit growth make it the more defensible long-term income holding. For most investors the best answer is owning both.
Is Standard Chartered Kenya dividend safe in 2026?
The 123% payout ratio — paying KES 17 billion in dividends on KES 12.4 billion in profit — is a genuine risk. The FY2025 profit declined 38%. If profits fall again in FY2026, a dividend cut becomes likely. Standard Chartered offers the highest yield but requires active monitoring. Do not buy and forget.
Which is the best NSE bank stock for dividend income right now?
KCB Group for investors who want the best combination of yield and safety — 9.2% yield backed by a 33% payout ratio. Equity Group for investors who want maximum dividend safety with strong growth — 7.8% yield backed by a 29% payout ratio. Both belong in a diversified Kenyan income portfolio.
When does KCB pay its final dividend in 2026?
KCB final dividend of KES 3.00 is payable approximately May 22, 2026. Book close is April 2, 2026 — buy by March 27 for safe T+3 settlement. See our KCB Dividend 2026 guide.
More NSE Dividend Guides
- KCB Dividend 2026 — record KES 7.00, book close April 2 ⚠️
- Equity Bank Dividend 2026 — record KES 5.75, payment July 2026
- Standard Chartered Dividend 2026 — 13.3% yield, risk analysis
- COOP Bank Dividend 2026 — record KES 2.50, 8.3% yield
- Stanbic Holdings Dividend 2026 — KES 22.35, book close May 15
- NSE Dividend Calendar 2026 — all payment dates in one place
- Top NSE Dividend Stocks Kenya 2026 — full yield rankings
- Best Kenyan Stocks 2026 — complete NSE comparison
All dividend figures from official company announcements. Equity KES 5.75 confirmed March 2026. KCB KES 7.00 confirmed November 2025. Standard Chartered KES 8.00 interim confirmed October 2025 — final dividend pending. Share prices as at March 26, 2026. Withholding tax 5% for Kenyan residents. This article is for educational purposes only and does not constitute financial advice.