TotalEnergies Kenya is showering its shareholders with a hefty dividend increase of 46.5% after it delivered impressive results, prompting a significant boost in dividend payouts. Shareholders can expect to receive Sh1.92 per share, totaling Sh336.1 million, a substantial increase from the previous year’s Sh1.31 per share and Sh229.3 million payout.
Beyond the generous dividend increase, TotalEnergies Kenya’s financial performance across the board paints a picture of a thriving company. Net profit witnessed a significant jump of 23.6%, reaching Sh4.62 billion compared to Sh3.8 billion in the previous year.
This positive trend extended to net revenue, which increased by 17.4% to Sh120.7 billion from Sh102.8 billion.
The company also reported a rise in other income, driven by strategic investments in various ventures, diversified revenue streams from convenience stores and food services, and income generated through partnerships with third parties. This diversification of income sources beyond just fuel sales bodes well for the company’s long-term stability.
During the review period, operating expenses experienced a 12.9 percent increase, reaching Sh8.04 billion, partly attributed to the depreciation of the shilling against foreign currencies.
“The increase in operating expenses was majorly attributable to inflation impact on local costs coupled with forex impact on imported goods and services due to depreciation of local currency,” said TotalEnergies.
“Despite this particularly challenging context, the Company is expected to continue growing its business in the country due to its vast experience in the energy industry and a broad range of products and services,” added the company.
TotalEnergies Kenya goes beyond just being a fuel station. They’ve expanded their offerings to cater to a wider customer base, essentially becoming a one-stop shop for many Kenyans.
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This diversification includes a range of products and services. On the fuel side, they offer the usual petrol, diesel, and kerosene, along with lubricants and car care products to keep your vehicle running smoothly. For cooking and heating needs, they provide Liquefied Petroleum Gas (LPG) in various cylinder sizes to suit different requirements.
TotalEnergies Kenya is also looking towards the future with their commitment to sustainability. They offer distributed solar solutions, aimed at providing clean energy access to low-income communities.
For added convenience, their service stations often include additional facilities. You will find banking services, pharmacies, car washes, service bays, restaurants, coffee shops, and even mobile money services all within the same location.
