The Kenyatta Family is reaping big from their stock at NCBA Group.
The family’s stake in the financial services holding company increased in value by KSh 358.9 million since the close of trading on Wednesday, May 4.
The increase in value of the family’s stake in the last six days was due to a rebound in the group’s share price.
Shares in NCBA rose in value after the price was lowered to account for the payment of the company’s 2021 dividends to shareholders.
Shares have risen from KSh 23.85 on May 4 to KSh 25.5.
This represents a 6.9-percent return for shareholders and thus the KSh 358.9 million for the Kenyatta Family.
Following the CBA Group and NIC Group merger in 2019, the Kenyatta Family was the biggest shareholder and controlled 13.2% of the then newly formed NCBA Group.
The Kenyatta Family comprises of President Uhuru, his brother Muhoho and Mama Ngina Kenyatta.
As earlier reported, The Kenyatta family is set to receive a dividend of KSh 489.4 million from their stakes in NCBA Group.
The dividend will be paid from the financial services group’s retained earnings of more than KSh44.2 billion accrued since its formation in 2019.