Home » NMG distributes $2-million dividend to Kenyan tycoon John Kimani and other shareholders

NMG distributes $2-million dividend to Kenyan tycoon John Kimani and other shareholders

by Omokolade Ajayi
John Kimani

Nation Media Group (NMG), the prominent East African media conglomerate, has announced a generous dividend payout of Ksh285 million ($2.02 million) to its shareholders, including esteemed Kenyan businessman John Kimani.

The decision was made following the endorsement of the board’s proposal during the virtual 60th annual general meeting held on Fri., June 30, facilitating the participation of shareholders from diverse geographic regions.

Among the beneficiaries of this remarkable dividend payout, Kimani, one of Kenya’s wealthiest investors, will receive Ksh11.7 million ($83,300) from his 4.11-percent stake in NMG.

Additionally, Shah Karim al-Husayni (Aga Khan IV), who owns an impressive 48.67-percent of the media company, will be rewarded with approximately $1 million — Ksh138 million ($982,000).

Since its establishment in 1959 by Shah Karim al-Husayni (Aga Khan IV), also known as Mawln Hazar Imam, NMG has grown to become the largest independent media house in East and Central Africa. Its operations span print, broadcast, and digital platforms in Kenya, Uganda, Tanzania, and Rwanda.

Despite grappling with challenges such as the depreciation of the Kenyan shilling against the dollar and the substantial increase in newsprint prices, NMG closed the 2022 fiscal year with a net profit of Ksh470 million ($3.52 million).

Looking ahead, NMG aims to bolster its print and broadcast businesses while enhancing its digital-first content, forming the core of its growth strategy.

The corporation has already begun to witness the positive outcomes of these tactics, evident in a remarkable 25.3-percent surge in its reach during the 2022 fiscal year, reaching a total audience of 57.9 million across various social media platforms and its website.

NMG is integrating its newsrooms and adjusting its content strategy to adapt to the evolving demands of its audience. NMG remains dedicated to providing reliable and innovative media solutions as the media landscape evolves.

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