Corona tax discount boosts KenGen profits to Sh18bn
Corona tax discount boosts KenGen profits to Sh18bn Friday January 29 2021 By OTIATO GUGUYU Summary Electricity generation firm Kengen more than doubled its net profit to Sh18.3 billion in the year ended June 2020 compared to Sh7.8 billion a year earlier on lower corporate taxes introduced to curb the coronavirus pandemic. The 133 percent jump in net profit, boosted by a Sh4.5 billion tax credit, will see the company reward shareholders with dividends of Sh0.3 per share or a total of Sh1.9 billion. This is up from a dividend of Sh0.25 per share paid for the prior year. Total revenue declined ...
Source: businessdailyafrica.com