NSE Dividend Calendar & Investor Guide (Kenya)

Investing in dividend-paying companies on the Nairobi Securities Exchange (NSE) can help you build steady income and long-term wealth. This article organizes listed companies by when they usually declare dividends, explains the types of dividends, and shows you how to use them for retirement planning.

🏦 Types of Dividends Explained

Interim Dividend

Paid during the financial year, often after half-year results. Shows confidence in ongoing profitability.

Final Dividend

Declared at year-end after full-year results. Usually the largest payout.

Special Dividend

A one-off payout due to excess profits or asset sales. Not guaranteed annually.

👉 Example: ABSA pays an interim in Aug/Sept and a final in March/April, offering investors two income opportunities yearly.

📅 NSE Dividend Calendar (By Month)

January – February

British American Tobacco (BAT) — Interim: July/Aug | Final: Jan/Feb — Dividend stock (very high yield, low growth).
East African Breweries (EABL) — Interim: Jan/Feb | Final: July/Aug — Growth + dividends.
Kenya Power — Interim: Jan/Feb | Final: Oct/Nov — Risky, inconsistent payer.
Safaricom — Interim: Feb/Mar | Final: May/Jun — Hybrid (growth + income).

March – April (Peak Dividend Season 🎉)

Most banks and insurers declare here.

Banks: ABSA, KCB, Standard Chartered, Co-op, Equity, I&M, Stanbic, NCBA — all strong banking dividend stocks.
Insurance: CIC, Jubilee, Kenya Re, Liberty — steady but generally lower yields than banks.
Investment & Services: Centum, NSE Plc, TPS Serena, Car & General — mixed results; more growth/speculative.

Tip: Banks should form ~40–50% of your dividend portfolio because of their consistent payouts.

May – June

Safaricom — Final dividend (May/Jun).
TPS Serena — Usually May/Jun.
Umeme Ltd — June (Uganda listing, but dual appeal).
Williamson Tea, Kapchorua Tea — June/Jul (cyclical dividends depending on tea exports).

July – August

BAT Kenya — Interim (Jul/Aug).
EABL — Final (Jul/Aug).
Centum — Jul/Aug (not consistent).

August – September

ABSA, KCB, Standard Chartered — Interim dividends. Great for investors who want mid-year cash flow.

October – November

KenGen — Dividend (Oct/Nov).
Carbacid — Dividend (Oct/Nov).
Kenya Power — Final (Oct/Nov, when profitable).
East African Portland Cement — Dividend (occasional, avoid for reliability).

December

BK Group — Dividend (Nov/Dec).
I&M Group — Dividend (Nov/Dec).

📌 Which Stocks to Add & Why

Dividend Heavyweights (Income Focus, 50–60% of portfolio): BAT, ABSA, KCB, Co-op, Standard Chartered, Carbacid.
Growth + Dividend Hybrids (30–40%): Safaricom, EABL, BK Group, Equity, I&M.
Speculative/Turnaround (≤10%): Kenya Power, Centum, NSE Plc, tea stocks.

🔄 Dividend Reinvestment Strategy

Instead of spending your dividends:

Track payout dates (calendar above).
Reinvest into upcoming dividend payers (e.g., reinvest Safaricom May dividend into BAT July dividend).
Compound effect → Over 10–15 years, your dividends alone can build a sizeable income stream for retirement.

📑 Dividend Calendar Summary (For Quick Reference)

Month	Companies Paying Dividends	Type (Interim/Final/Special)	Stock Type (Growth/Dividend)
Jan–Feb	BAT, EABL, Kenya Power, Safaricom	Final (BAT, EABL, KPLC), Interim (EABL, Safaricom)	Dividend heavy (BAT), Hybrid (EABL, Safaricom), Risky (KPLC)
Mar–Apr	ABSA, KCB, Standard Chartered, Co-op, Equity, I&M, Stanbic, NCBA, CIC, Jubilee, Kenya Re, Liberty, Centum, NSE, TPS Serena, Car & General	Mostly Final	Strong dividend banks + insurance
May–Jun	Safaricom, TPS Serena, Umeme, Williamson Tea, Kapchorua Tea	Final	Hybrid (Safaricom), Cyclical (Tea), Regional (Umeme)
Jul–Aug	BAT, EABL, Centum	Interim (BAT), Final (EABL), Mixed (Centum)	Dividend + Growth
Aug–Sept	ABSA, KCB, Standard Chartered	Interim	Banking dividend plays
Oct–Nov	KenGen, Carbacid, Kenya Power, Portland Cement	Final (KenGen, Carbacid, KPLC), Occasional (Portland)	Defensive (KenGen, Carbacid), Risky (KPLC, Portland)
Nov–Dec	BK Group, I&M	Interim/Final	Regional hybrid banks

📑 Dividend Calendar Summary with Yields (Kenya NSE)

Month	Companies Paying Dividends	Type (Interim/Final/Special)	Stock Type (Growth/Dividend)	Typical Dividend Yield (%)
Jan–Feb	BAT, EABL, Kenya Power, Safaricom	Final (BAT, EABL, KPLC), Interim (EABL, Safaricom)	Dividend heavy (BAT), Hybrid (EABL, Safaricom), Risky (KPLC)	BAT: 12–14%, EABL: 4–5%, Safaricom: 5–7%, KPLC: <2% (inconsistent)
Mar–Apr	ABSA, KCB, Standard Chartered, Co-op, Equity, I&M, Stanbic, NCBA, CIC, Jubilee, Kenya Re, Liberty, Centum, NSE, TPS Serena, Car & General	Mostly Final	Strong dividend banks + insurance	Banks: 5–9% (Stanbic up to 13%), Insurers: 3–5%, Others: 2–4%
May–Jun	Safaricom, TPS Serena, Umeme, Williamson Tea, Kapchorua Tea	Final	Hybrid (Safaricom), Cyclical (Tea), Regional (Umeme)	Safaricom: 5–7%, Tea: 3–6% (volatile), Umeme: 6–8%
Jul–Aug	BAT, EABL, Centum	Interim (BAT), Final (EABL), Mixed (Centum)	Dividend + Growth	BAT: 12–14%, EABL: 4–5%, Centum: 0–2% (irregular)
Aug–Sept	ABSA, KCB, Standard Chartered	Interim	Banking dividend plays	ABSA: 8–9%, KCB: 6–7%, Stanchart: 9–10%
Oct–Nov	KenGen, Carbacid, Kenya Power, Portland Cement	Final (KenGen, Carbacid, KPLC), Occasional (Portland)	Defensive (KenGen, Carbacid), Risky (KPLC, Portland)	KenGen: 4–5%, Carbacid: 8–9%, KPLC: <2%, Portland: rare
Nov–Dec	BK Group, I&M	Interim/Final	Regional hybrid banks	BK: 4–6%, I&M: 4–5%

📌 Sample Portfolio Allocation for Optimal Wealth Building

When constructing a retirement-focused portfolio, it’s important to balance income (dividends) and capital growth. Below is a practical allocation guide based on NSE-listed counters and select growth options.

1️⃣ Dividend Heavy (50%) – For Steady Income

These stocks provide regular cash flow through strong dividends.

BAT Kenya → High yield (12–14%), reliable payer.
Stanbic Holdings → Double-digit yield (10–13%), steady bank.
ABSA Bank, Standard Chartered, Co-op Bank → Consistent 7–9% yields.
Carbacid → 8–9%, cash-rich company.

👉 Purpose: Covers retirement expenses, provides predictable annual income.

2️⃣ Hybrid Stocks (30%) – For Growth + Dividends

These stocks offer both capital appreciation and regular dividends.

Safaricom → M-Pesa-driven growth + 5–7% dividend.
Equity Group, KCB, NCBA, I&M, BK Group → Regional banking expansion + 5–7% yields.
KenGen → Defensive utility, 4–5% dividend yield.

👉 Purpose: Provides a balance of long-term growth and steady income reinvestment.

3️⃣ Pure Growth (20%) – For Capital Appreciation

Focus here is on market dominance and expansion potential.

EABL → Strong brand strength, resilient consumer demand.
Centum → Turnaround potential (low or no dividend currently).
Global ETFs (e.g., S&P 500, Nasdaq 100 via offshore brokers) → Diversification into international growth.

👉 Purpose: Boost capital gains and ensure the portfolio grows above inflation.

🔄 Reinvesting Dividends

Reinvest bank dividends (e.g., Co-op, KCB, Equity) into more shares at attractive prices.
Use Safaricom & KenGen dividends to accumulate hybrid growth counters.
Allow BAT & Stanbic dividends to cover living expenses OR reinvest into hybrids for compounding.