Upon the close of trading at the NSE yesterday, the KenolKobil share had dipped by 0.83% to Ksh 11.90 per share, its lowest value since March 27^th. This is in contrast to the upward trend it has exhibited over the last 3 months since the beginning of the year as it attained its 7 month high towards the end of February.

KenolKobil is Kenya’s biggest fuel retailer by market value and also has operations in Uganda, Tanzania, Rwanda, Burundi, Zambia, Ethiopia, Mozambique and Zimbabwe.

This dip is particularly peculiar as investors are expecting a dividend payments of Ksh 0.43 per share on 14^th May 2012. This would be payable to investors whose names appear on the shareholders’ register as at the close of business on 30^th April 2012. We should be seeing increased demand for the share pushing the price upwards rather than a dip as observed yesterday.