Wednesday, July 16, 2025
No Result
View All Result
  • Login
News 9
Advertisement
  • Home
  • News
    • International News
    • Politics
  • Business
  • Sports
  • Entertainment
  • Lifestyle
  • Technology
  • Agriculture
No Result
View All Result
News 9 Kenya
  • Home
  • News
    • International News
    • Politics
  • Business
  • Sports
  • Entertainment
  • Lifestyle
  • Technology
  • Agriculture
No Result
View All Result
News 9 Kenya
No Result
View All Result

Co-operative Bank, Kakuzi and BAT allowed to pay dividends

Vincent Munga by Vincent Munga
April 30, 2020
in Business
Reading Time: 2 mins read
A A
0
0
SHARES
2
VIEWS

Firms can now pay dividends to shareholders as Capital
Markets Authority set guidelines to the next Annual General Meetings during the
Covid-19 pandemic.

So for, firms like the Co-operative Bank, Kakuzi and British
American Tobacco (BAT) have been allowed to pay dividends.

This follows CMA move to set rules for firms listed in the
Nairobi Stock Exchange (NSE) to conduct their Annual General Meetings, after
the High Court ruling which allowed WPP Scangroup Plc to convene and hold a
virtual general meeting.

“This court order supports the Authority’s strategic
objectives of leveraging on technology and facilitating innovation in the
capital markets,” CMA said.

The meeting, according to the ruling, will be subject to
compliance with the provisions of the Capital Markets Act and the Regulations.

The Court ordered and directed that any company listed on
the NSE, and exhibit impracticability to conduct a general meeting due to the
COVID-19 pandemic to be allowed to hold virtual general meetings subject to a
No Objection from CMA.

“The court’s decision will benefit all listed companies that
could not hold virtual general meetings due to the Articles of Association
restrictions. Listed companies will apply to the Capital Markets Authority for
a no objection, to proceed as directed by the court,” CMA said in a statement.

Guidelines

The listed firms will be required to issue a statutory
notice to shareholders on the intended general meeting and obtain a No
Objection from CMA least 14 days prior.

They will also need to set out in detail in the request to
CMA, how the meeting will be held, whether virtual, electronic technology or a
hybrid of both.

The companies need to confirm and demonstrate that
shareholders shall be provided with a notice of the general meeting as provided
for under the Companies Act 2015 and sufficient information to make informed
decisions on any resolutions placed before the meeting.

Firms are also required to provide shareholders with
sufficient opportunity to ask questions and seek clarifications from directors
as well as an opportunity to vote, with clear registration and voting
procedure.

Related

Tags: AGMCMACo-opertive bankCovid-19DividendsNSE
ShareTweetSharePinSend

Related Posts

Business

Economic Recovery: How Kisii Women strive to recover from the ravages of Covid-19

August 10, 2021
News

How Health IT is transforming healthcare in Kenya [ILARA HEALTH ResAppDX]

July 7, 2021
Sports

Tokyo Olympics updates: What you need to know about the July event

June 18, 2021
News

Kazi Mtaani: One-year success cushioning communities from Covid-19

April 9, 2021
International News

Samia Suluhu Hassan –Tanzania’s first female president

March 19, 2021
News

School re-opening: Schools still grappling with the new normal standards

February 6, 2021

Latest News

Clinton Thom.
News

New era: Radisson Blu Nairobi Upper Hill appoints Clinton Thom its general manager

by Dennis Lubanga
July 15, 2025
0

NAIROBI, Kenya - Radisson Hotel Group has appointed Clinton Thom as General Manager of Radisson Blu Hotel Nairobi Upper Hill, reinforcing...

Read more
The African Ministerial Conference on the Environment (AMCEN) .

AMCEN 20: Environmentalists petition African ministers to address devastating effects of climate change

July 15, 2025

One-of-a-kind: Vihiga is about to make history with its county anthem

July 14, 2025
WWF Kenya has released a new report on the state of fishes and fisheries.

New WWF report shows one in 4 freshwater fish species in Africa are endangered with extinction

July 14, 2025

WHX Nairobi and WHX Labs Nairobi to find sustainable solutions for critical deficit of healthcare workers

July 13, 2025
KRA collects KSh 2.57 trillion in FY 2024/25, surpasses target by 6.8%

KRA collects KSh 2.57 trillion in FY 2024/25, surpasses target by 6.8%

July 10, 2025
Equity Bank, Unilever partners for KSh 2.4b SME financing

Equity Bank, Unilever partners for KSh 2.4b SME financing

July 10, 2025
Birdview, Kenya’s insurance brokers in ambitious microinsurance collaboration

Birdview, Kenya’s insurance brokers in ambitious microinsurance collaboration

July 9, 2025
Saba Saba: Hundreds stranded as Kenya Railways suspends Madarak Express train

Saba Saba: Hundreds stranded as Kenya Railways suspends Madarak Express train

July 7, 2025
World Health Expo Nairobi: Over 8,000 stakeholders engage govt over workers’ shortage

World Health Expo Nairobi: Over 8,000 stakeholders engage govt over workers’ shortage

July 6, 2025
News

New era: Radisson Blu Nairobi Upper Hill appoints Clinton Thom its general manager

July 15, 2025
News

AMCEN 20: Environmentalists petition African ministers to address devastating effects of climate change

July 15, 2025
News

One-of-a-kind: Vihiga is about to make history with its county anthem

July 14, 2025
News

New WWF report shows one in 4 freshwater fish species in Africa are endangered with extinction

July 14, 2025
  • Terms Of Service
  • Privacy Policy
  • Get In Touch
  • Our Authors

© 2025 News 9

No Result
View All Result
  • Home
  • News
    • International News
    • Politics
  • Business
  • Sports
  • Entertainment
  • Lifestyle
  • Technology
  • Agriculture

© 2025 News 9

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00