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KPLC Profits Surge, Ndindi Nyoro shares jump to Sh210M from Sh 33M

Kenya Power and Lighting Company (KPLC) has recently shared good news about its financial situation. They reported a net profit of Ksh 30.08 billion for the year ending in June 2024, which is a big improvement from a net loss of Ksh 3.19 billion the year before.

The increase in profit happened because KPLC saw a 21% rise in revenue, especially from businesses needing electricity.

They also spent less on loans because the Kenyan shilling has gotten stronger compared to other currencies in the world. More people used electricity, and a new pricing system was set up in April 2023 to reflect the actual costs better.

Thanks to this financial success, KPLC announced it will pay a dividend to its shareholders for the first time in seven years. Shareholders could receive Ksh 0.70 for each share they own. The important date for this payment is December 2, 2024, and money is expected to be paid around January 31, 2025.

KPLC’s share price has gone up a lot, increasing by 49.7%. It closed at KES 5.24, making the company worth KES 10.2 billion.

This positive financial news has made investors happy, as seen in many social media posts where people talk about how good profits can help the economy and electricity supply.

This recovery benefits shareholders directly with dividends and possibly through a rise in share prices, showing that the company is being managed well now.

MP Ndindi Nyoro on Kenya Power shares

Ndindi Nyoro, a Member of Parliament for Kiharu, has been involved with Kenya Power shares for some time. Here’s what he has been doing:

Nyoro has invested a lot in Kenya Power. By June 2023, he owned an extra 5.2 million shares, giving him a total of 32.5 million shares, making him the biggest individual shareholder, which was about 1.67% of the company. His investment was worth around Ksh 48.75 million.

However, by late 2023, Nyoro decided to sell a large part of his shares. Between June and December 2023, he sold 11.78 million shares, reducing his ownership by 36%.

Now, he has 20.72 million shares, which is 1.06% of Kenya Power’s shares, valued at Ksh 29 million. People think this decision was influenced by market conditions and his investment choices.

The Kiharu MP Ndindi Nyoro’s shares at Kenya Power have now jumped from Ksh 33 million to Ksh 210 million in just six months, following a remarkable 300% surge in the company’s stock.

The second-term lawmaker now holds 30 million shares, representing 1.54% of the company, up from 20.08 million shares in June 2024.

Nyoro has said he invested in Kenya Power because he believed it was undervalued and could grow. He started investing in the company years ago while he was a student at Kenyatta University and has encouraged others to invest in the stock market.

His strategy has been to hold shares for the long term, hoping that the company would improve and its value would rise.

Nyoro has stated that he does not make any company decisions and considers himself a regular investor. He bases his investments on the company’s fundamentals and believes in its future potential, despite the challenges it has faced.

Discussions on social media have mentioned Nyoro’s investment in Kenya Power, connecting his share sales to changes in the company’s leadership or policies, like a suggestion from the IMF for a better board at Kenya Power.

Nyoro’s actions with his Kenya Power shares show he is a smart investor who is ready to change his strategy based on the company’s situation and the market..

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