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HomebusinessPeter Ndegwa Increases His Safaricom Shares to 6.2 Million Worth Ksh 107.4...

Peter Ndegwa Increases His Safaricom Shares to 6.2 Million Worth Ksh 107.4 Million 

Safaricom’s CEO, Peter Ndegwa, has boosted his ownership of Safaricom shares to 6.21 million.

As of the conclusion of Safaricom’s fiscal year in March 2024, Ndegwa’s Safaricom shares had increased from 895,000 to 6.21 million.

These shares are now worth an estimated Ksh 107.4 million after trading at Ksh 17.30 on the Nairobi Securities Exchange.

Safaricom’s stock price has fluctuated between 11.50 and 21.15 per share over the last year.

At the highest price range of 21.15, Ndegwa’s Safaricom stock would be worth Ksh 131.3 million.

At a minimum, they would be valued Ksh 71.4 million With Safaricom paying out a total dividend of one shilling and twenty cents per share for the entire year 2023, Ndegwa’s holding would have earned him a maximum of Ksh 7.45 million in dividends alone.

This holding would pay Ksh 4 million in dividends based solely on the final dividend payout of 65 cents announced at the end of the preceding fiscal year.

It was not immediately clear when Ndegwa purchased the extra Safaricom shares or at what prices he took positions to establish his current return on investment.

Aside from Ndegwa, there are other prominent directors who own significant shares in the telecommunications company.

Dilip Pal, Safaricom’s Chief Financial Officer, owns 1,342,105 shares in the business.

These shares are currently worth approximately Ksh 23.2 million if traded at a price of Ksh 17.30 per share.

Between 2023 and 2024, Pal did neither raise or decrease his stake in the company.

Karen Kandie, who sits on the board, has boosted her Safaricom investment from 147,300 shares in 2023 to 235,800 in 2024.

This shareholding is currently worth Ksh 4 million.