Agha Khan IV To Receive KSh 138 Million in Dividends From Nation Media Group

Prince Karim Al-Husayn Shah, alias Agha Khan IV is set to receive KSh 138.93 million in dividends from his stake in Nation Media Group (NMG).

This comes at a time when the media group reported a whopping 929 percent increase in earnings.

Agha Khan IV owns 44.7 percent of the media company through Aga Khan Fund for Economic Development.

The dividend will be paid from NMG’s retained earnings of KSh 7.61 billion as part of the board of directors’ approval of KSh 1.5 per share cash distribution.

NMG’s profit increased by 929 percent in 2021, from KSh 47.9 million in 2020 to KSh 493.1 million. The growth was attributed to a 12-percent increase in revenue from KSh 6.8 billion to KSh 7.61 billion.

The shares of stock of the group are listed at the Nairobi Stock Exchange and are cross-listed at the Uganda Securities Exchange as well as the Rwanda Stock Exchange, trading at all three bourses under the symbol NMG.

As at December 2014, there were a total of 10,436 shareholders in the company.

Of these, 4,135 owned 1 to 500 shares each, with a cumulative total of 782,157 shares, controlling 0.41 percent of the company.

The seven largest shareholders controlled 62.57 percent of the total shareholding.

These included, Aga Khan Fund for Economic Development with 44.66 percent, Alpine Investments Limited with 10.15 percent, National Social Security Fund with 3.44 percent and John Kibunga Kimani who had 1.54 percent shareholding.

Others are Jubilee Insurance Company of Kenya Limited with 1.07 percent, Standard Chartered Nominees A/c KE17984, who controlled 0.91 percent and CfC Stanbic Nominee Limited with 0.81 percent shareholding.