Safaricom PLC has once again proven why it remains the crown jewel of the Nairobi Securities Exchange (NSE). Following a board meeting on February 4, 2026, the telco giant announced a massive Ksh 0.85 per share interim dividend for the financial year ending March 31, 2026.
With a total of 40,065,428,560 ordinary shares in issue, Safaricom will be pumping over Ksh 34 billion into the pockets of its investors. But as the saying goes on this platform, wealth is never distributed equally. So, who are the big winners?
Here is a breakdown of how much the top 10 shareholders—the real owners of Safaricom—will receive on or about March 31, 2026.
The Big Two: The Institutional Giants
Safaricom’s ownership structure is dominated by two primary entities. However, 2026 marks a significant shift due to the ongoing government stake divestiture.
Vodacom Group Limited (and Vodafone)
Combined, the Vodafone/Vodacom entities control a staggering 40% to 55% of the company (depending on the finalization of recent stake transfers).
* Shareholding: ~16,026,171,424 shares.
* Estimated Payout: Ksh 13.62 Billion.
This payout typically heads to South Africa and the UK, reinforcing Safaricom’s role as a global profit engine for the Vodafone Group.
The Government of Kenya (National Treasury)
Despite recent moves to sell a 15% stake to Vodafone Kenya to raise capital for the 2026 budget, the Government remains a massive beneficiary.
* Shareholding (Adjusted): ~8,013,085,712 shares (assuming the 20% post-divestiture holding).
* Estimated Payout: Ksh 6.81 Billion.
This liquidity is crucial for the Treasury as the country navigates a complex economic year.
The Top 10 Elite: A Breakdown of the Payouts
While the exact list of individual top 10 shareholders fluctuates slightly month-to-month on the NSE register, the following institutional and “silent” billionaires represent the bulk of the top tier.
What This Means for the “Small Fish”
If you are a retail investor holding the average “starter pack” of 1,000 shares, you will receive Ksh 850 (less 5% withholding tax for residents).
Key Dates to Remember
To be eligible for this payout, you must be on the register of members by the Book Closure Date.
* Declaration Date: February 5, 2026.
* Books Closure: February 25, 2026.
* Payment Date: March 31, 2026.
Why Safaricom is Paying Big in 2026
The Sh0.85 payout is a significant jump from the Sh0.55 paid in early 2025. This is driven by two factors:
M-Pesa Dominance: Digital transaction volumes in Kenya reached record highs in late 2025.
Ethiopia Turnaround: After years of heavy investment, Safaricom Ethiopia has started narrowing its losses, allowing the Kenyan unit to return more cash to shareholders.