25 February 2026
Safaricom Dividend 2026: Record KES 0.85 Interim Paid — Final Dividend Guide & Complete History
The Safaricom dividend 2026 story has already made history.
The KES 0.85 interim dividend — paid March 31, 2026 — is the largest interim Safaricom has ever declared, 54.5% higher than last year, backed by record H1 FY2026 net profit of KES 42.78 billion.
The final dividend will be announced April 30, 2026. This complete guide covers confirmed figures, the full payment history, and exactly how much you will earn.
This guide covers everything shareholders need to know.
Safaricom Dividend 2026 — Key Numbers at a Glance
| Metric | Value |
|---|---|
| FY2026 interim dividend | KES 0.85 per share ✅ Confirmed |
| Interim book close | February 25, 2026 |
| Interim payment | March 31, 2026 ✅ Paid |
| FY2026 final dividend | Pending — announced April 30, 2026 |
| FY2026 full year results | April 30, 2026 |
| Estimated full year total | KES 2.70–3.00 (based on 80% payout policy) |
| H1 FY2026 net profit | KES 42.78 billion (+52.1%) |
| Withholding tax (Kenyan residents) | 5% |
| Current share price | ~KES 30.35 |
| Estimated full year yield | ~7–9% |
What Has Already Been Confirmed
The Interim Dividend — Paid March 31, 2026
Safaricom announced an interim dividend of KES 0.85 per ordinary share for the financial year ending March 31, 2026. The board approved the dividend at a meeting held on February 4, 2026. Shareholders on the register at the close of business on February 25, 2026 qualify for the payout, which Safaricom expects to pay on or about March 31, 2026.
Safaricom will pay KES 34.05 billion in interim dividends, with the government receiving KES 11.92 billion for its 35 percent stake.
In previous financial years, Safaricom paid interim dividends of KES 0.55 in both FY2024 and FY2025, and KES 0.58 in FY2023. The FY2026 interim of KES 0.85 is the largest interim Safaricom has ever paid.
The Record Profits Behind the Record Dividend
Net income surged 52.1% to KES 42.78 billion — the highest interim profit in Safaricom’s history — while earnings before interest climbed 34.9% to KES 101.29 billion as margins improved on a more digital revenue mix.
The dividend announcement immediately pushed Safaricom shares to their highest level in almost three years. At the intraday peak, its market value briefly crossed US$10.09 billion, making Safaricom the only company in Kenya — and in Central and Eastern Africa — to reach that threshold twice, first in 2021 and again in 2026.
The Final Dividend — What to Expect April 30
The FY2026 full-year results will be announced on April 30, 2026. The final dividend will be declared at the same time. This is the most important date for Safaricom shareholders right now.
Estimating the Final Dividend
Safaricom has a policy of paying approximately 80% of net profits as dividends. At H1 FY2026 net profit of KES 42.78 billion, if H2 matches H1, the full-year profit approaches KES 85 billion.
At 80% payout: KES 85 billion × 80% = KES 68 billion total dividend pool Divided by approximately 40 billion shares: KES 1.70 per share total annual dividend
Minus KES 0.85 interim already paid: estimated final dividend KES 0.85–1.15 per share
| Scenario | Full year profit | Total annual DPS | Final dividend |
|---|---|---|---|
| Conservative | KES 70 billion | KES 1.40 | KES 0.55 |
| Base case | KES 80 billion | KES 1.60 | KES 0.75 |
| Bull case | KES 85 billion | KES 1.70 | KES 0.85 |
| Strong bull | KES 90+ billion | KES 1.80–2.00 | KES 0.95–1.15 |
The base case total annual dividend of KES 1.60–1.70 would make FY2026 Safaricom’s largest ever annual dividend — surpassing the previous record of KES 1.65 paid in FY2025.
Update this table immediately when Safaricom announces April 30 results.
Safaricom Dividend History — 10-Year Table
Safaricom dividend history 2017–2026 — ten-year track record of consistent annual payments.
| Year | Interim DPS | Final DPS | Total DPS | Total payout | Yield at year open |
|---|---|---|---|---|---|
| FY2017 | — | KES 1.00 | KES 1.00 | KES 40 billion | 5.4% |
| FY2018 | — | KES 1.00 | KES 1.00 | KES 40 billion | 4.3% |
| FY2019 | — | KES 1.00 | KES 1.00 | KES 40 billion | 3.8% |
| FY2020 | — | KES 0.95 | KES 0.95 | KES 38 billion | 3.5% |
| FY2021 | — | KES 1.05 | KES 1.05 | KES 42 billion | 3.9% |
| FY2022 | — | KES 1.25 | KES 1.25 | KES 50 billion | 4.5% |
| FY2023 | KES 0.58 | KES 0.77 | KES 1.35 | KES 54 billion | 5.0% |
| FY2024 | KES 0.55 | KES 0.82 | KES 1.37 | KES 54.8 billion | 6.2% |
| FY2025 | KES 0.55 | KES 1.10 | KES 1.65 | KES 66 billion | 7.0% |
| FY2026 | KES 0.85 ✅ | TBA April 30 | TBA | TBA | ~7–9% est |
Key observations:
Safaricom has paid a dividend every year since listing in 2008 — including during COVID-19, the 2022 share price collapse, and the Ethiopia investment period. Only FY2020 saw a reduction, and it was minimal.
The structural shift from FY2023 onward — introducing an interim dividend — significantly increased total annual payouts. The FY2025 total of KES 1.65 was the highest in history until FY2026 is confirmed.
How Much Will You Earn — Earnings Tables
FY2026 Interim — Already Paid (March 31, 2026)
| Shares held | Gross interim (KES 0.85) | Tax (5%) | Net received |
|---|---|---|---|
| 100 shares | KES 85 | KES 4 | KES 81 |
| 500 shares | KES 425 | KES 21 | KES 404 |
| 1,000 shares | KES 850 | KES 43 | KES 808 |
| 5,000 shares | KES 4,250 | KES 213 | KES 4,038 |
| 10,000 shares | KES 8,500 | KES 425 | KES 8,075 |
FY2026 Estimated Full Year (Base Case KES 1.60 Total)
| Shares held | Gross full year (KES 1.60) | Tax (5%) | Net full year | Net final only (KES 0.75 est) |
|---|---|---|---|---|
| 100 shares | KES 160 | KES 8 | KES 152 | KES 71 |
| 500 shares | KES 800 | KES 40 | KES 760 | KES 356 |
| 1,000 shares | KES 1,600 | KES 80 | KES 1,520 | KES 713 |
| 5,000 shares | KES 8,000 | KES 400 | KES 7,600 | KES 3,563 |
| 10,000 shares | KES 16,000 | KES 800 | KES 15,200 | KES 7,125 |
Update final dividend column when April 30 results are announced.
Tax note: 5% withholding tax for Kenyan resident individuals is deducted automatically before payment. No filing required. Non-residents pay 15%.
The Safaricom Dividend Policy Explained
Safaricom’s dividend policy is one of the most generous among major NSE-listed companies.
80% payout ratio target. For every KES 100 of net profit, approximately KES 80 goes to shareholders as dividends. Most blue-chip companies pay 30–40%. Safaricom at 80% reflects a mature business with strong cash generation that does not require heavy profit reinvestment for domestic growth.
Two payments per year since FY2023. The introduction of interim dividends from FY2023 onward means shareholders now receive income in both March/April and October/November each year — spreading the income across two payments and providing a mid-year cash flow benefit.
Government dividend dependency. The government receives KES 11.92 billion from its 35% stake in the interim alone. This political dimension makes dividend maintenance practically guaranteed — any reduction would directly reduce government revenue, creating strong institutional pressure to sustain or grow payouts.
M-Pesa drives dividend capacity. M-Pesa contributes approximately 39% of revenue but approximately 60–70% of profit due to its superior margins. As M-Pesa revenue grows at 18% annually, the dividend pool grows alongside it. M-Pesa’s expansion into Ethiopia, international remittances, and merchant payments all add to the dividend capacity over time.
The Safaricom 214 Billion Dividends Context
You may have seen headlines about “Safaricom KES 214 billion dividends” — here is what it means.
This figure represents the cumulative total of all dividends paid since Safaricom’s NSE listing in 2008 — not a single year’s payment. Across 15+ years of consistent annual payouts, Safaricom has returned over KES 214 billion to shareholders in aggregate.
This is the largest cumulative dividend payout in Kenyan corporate history. The government alone has received approximately KES 75 billion of this total from its 35% stake over 15 years — making Safaricom one of the government’s most significant revenue sources outside of taxation.
Key Dates — What Shareholders Must Watch
Already completed
| Date | Event |
|---|---|
| February 4, 2026 | Board approves KES 0.85 interim dividend |
| February 25, 2026 | Interim book close |
| March 31, 2026 | Interim dividend paid ✅ |
Upcoming — critical
| Date | Event | Action required |
|---|---|---|
| April 30, 2026 | FY2026 full-year results + final dividend announced | Update this article immediately |
| ~May/June 2026 | Ex-dividend date for final | Buy before this date to qualify |
| ~June 2026 | Final dividend book close | Must be on register |
| ~July 2026 | Final dividend payment | Automatic to your registered bank account |
To qualify for the final dividend: Buy Safaricom shares at least five business days before the ex-dividend date. The exact date will be confirmed with the April 30 results announcement. Check nse.co.ke and safaricom.co.ke immediately when announced.
Safaricom Dividend Yield vs NSE Alternatives
At the current share price of approximately KES 30.35 and estimated full-year dividend of KES 1.60–1.70:
| Company | Dividend | Yield | Payout ratio | Safety |
|---|---|---|---|---|
| Standard Chartered | ~KES 45.00 | ~13.3% | 123% | ⭐⭐ — profits fell 38% |
| KenGen | ~KES 1.20 | ~13%+ | Moderate | ⭐⭐⭐⭐ Government-backed |
| Equity Group | KES 5.75 | ~11.5% | 29% | ⭐⭐⭐⭐⭐ Most defensible |
| Stanbic Holdings | KES 22.35 | ~8.8% | 64% | ⭐⭐⭐⭐ |
| KCB Group | KES 7.00 | ~9.2% | 33% | ⭐⭐⭐⭐⭐ |
| COOP Bank | KES 2.50 | ~8.3% | 35% | ⭐⭐⭐⭐⭐ |
| Safaricom | ~KES 1.60–1.70 est | ~5.3–5.6% | ~80% | ⭐⭐⭐ |
| BAT Kenya | ~KES 25.00 | ~10–12% | High | ⭐⭐ |
The honest yield comparison: At KES 30.35 and an estimated KES 1.60–1.70 annual dividend, Safaricom’s yield of approximately 5.3–5.6% is lower than most major NSE banking stocks. The investment case for Safaricom rests on M-Pesa growth and total return — dividend plus share price appreciation — rather than maximising current income yield.
For pure dividend income yield, Equity Group at 11.5% and KCB at 9.2% currently offer stronger income per shilling invested. See our Top NSE Dividend Stocks Kenya 2026 for the complete rankings.
Is the Safaricom Dividend Sustainable?
The case for sustainability is strong:
Record H1 FY2026 profit of KES 42.78 billion — up 52.1% — provides exceptional dividend coverage. Even at 80% payout, the profit growth means the dividend pool is growing faster than at any point in Safaricom’s history.
M-Pesa revenue growing at 18% annually with new products — Fuliza, M-Shwari, Lipa Na M-Pesa, M-Pesa Global — expanding the income base. The Ethiopia operation’s losses are narrowing with breakeven expected by 2027–2028, at which point the group’s combined profit would support even higher dividends.
The risks to monitor:
Government M-Pesa fee caps remain a recurring regulatory threat. If implemented, caps could reduce M-Pesa revenue by 5–10%, directly reducing the dividend pool.
Ethiopia remains loss-making at approximately $210 million per year. This consumes capital that would otherwise flow to shareholders. If Ethiopia losses widen rather than narrow in H2 FY2026, the full-year dividend could disappoint versus the H1 run rate.
The 80% payout ratio leaves limited buffer. Unlike KCB at 33% or Equity at 29%, Safaricom distributes most of its earnings. A 20% profit decline would force a dividend cut unless management chose to reduce the payout ratio temporarily.
How to Receive Your Safaricom Dividend
Requirements:
- Own SCOM shares before the ex-dividend date — expected May/June 2026 for the final dividend
- Valid CDS account in your name — not your broker’s name
- Active Kenyan bank account registered on your CDS account
Payment is automatic. Once you qualify by holding shares before book-close, the dividend deposits directly to your registered bank account with no action required from you. You will receive an SMS confirmation from your bank when funds arrive.
If you have changed banks: Update your registered bank account details with your stockbroker or CDS agent before the ex-dividend date. Outdated bank details are the most common reason dividends bounce back and cause weeks of delays.
To buy Safaricom shares: See our How to Buy Safaricom Shares Kenya 2026 guide — start with KES 500 via M-Pesa on Mali App or Hisa. Need a CDS account? See our How to Invest in NSE Kenya 2026 guide.
What to Do With Your Safaricom Dividend When It Arrives
Every dividend payment is an opportunity to accelerate your passive income journey.
Option 1 — Reinvest into more Safaricom shares. Buying more SCOM with each dividend compounds your future dividends automatically. 1,000 shares earning KES 1,520 net annually reinvested at KES 30.35 buys approximately 50 additional shares — which earn an additional KES 76 per year forever.
Option 2 — Diversify into other high-yield NSE stocks. Use your Safaricom dividend to buy Equity Group, KCB, or COOP Bank shares — building a portfolio that generates income from multiple stocks at different times of the year. See our NSE Dividend Calendar 2026 for all payment dates.
Option 3 — Money market fund while deciding. Transfer your dividend to a money market fund earning 10–14% annually while you decide on your next investment. See our Best Money Market Funds Kenya 2026 guide.
FAQ
What is the Safaricom dividend per share in 2026?
The confirmed interim dividend is KES 0.85 per ordinary share for the financial year ending March 31, 2026, paid March 31, 2026. The final dividend will be announced with full-year results on April 30, 2026. Based on Safaricom’s 80% payout policy and H1 FY2026 record profit of KES 42.78 billion, the estimated full-year total is KES 1.60–1.70 per share. Update this figure when April 30 results are confirmed.
When does Safaricom pay its dividend in 2026?
The interim dividend book closure was February 25, 2026, with payment due on or about March 31, 2026. The final dividend will be announced April 30, 2026 with book close expected May/June 2026 and payment expected July 2026.
Does Safaricom pay interim and final dividends?
Yes — since FY2023. Safaricom paid interim dividends of KES 0.55 in both FY2024 and FY2025, and KES 0.58 in FY2023. The FY2026 interim of KES 0.85 is the largest ever. The final dividend follows with FY2026 full-year results in April.
Is Safaricom dividend tax-free in Kenya?
No — but the rate is low. The withholding tax for Kenyan resident individuals is 5%, deducted automatically before payment. You receive 95% of the declared dividend with no further filing required. Capital gains from selling Safaricom shares are currently taxed at 0%. See our Capital Gains Tax Kenya 2026 guide.
How many Safaricom shares do I need to earn KES 10,000 in dividends?
At an estimated KES 1.60 total annual dividend, you need approximately 6,579 shares (KES 10,526 gross ÷ KES 1.60) to earn KES 10,000 gross — KES 9,500 net after 5% tax. At KES 30.35 per share, this requires an investment of approximately KES 199,720.
What was the Safaricom dividend in 2025?
Total FY2025 annual dividend: KES 1.65 per share — KES 0.55 interim paid approximately March 2025 plus KES 1.10 final paid approximately October 2025. Net after 5% withholding tax: KES 1.5675 per share.
More Safaricom and NSE Guides
- Safaricom Stock 2026: Buy, Hold or Sell? — complete investment analysis with updated price targets
- How to Buy Safaricom Shares Kenya 2026 — start with KES 500 via M-Pesa
- Understanding Safaricom Ethiopia — risk or opportunity? Updated March 2026
- NSE Dividend Calendar 2026 — all NSE payment dates in one place
- Top NSE Dividend Stocks Kenya 2026 — full yield rankings
- Best Kenyan Stocks 2026 — top 10 NSE picks
- How to Build Passive Income in Kenya 2026 — from surveys to NSE dividends
Interim dividend KES 0.85 confirmed from Safaricom official announcement February 5, 2026. Payment date March 31, 2026. Full-year results and final dividend announcement due April 30, 2026 — update all estimated figures immediately when confirmed. Share price approximately KES 30.35 as at March 2026. Withholding tax 5% for Kenyan resident individuals confirmed from KRA. This article is for educational purposes only and does not constitute financial advice.