The books of East Africa’s largest bank by profits and asset base KCB today close for the dividend payout. The share register will close at 3pm today and only shareholders in the register by that time will receive dividends.

Following the bank’s improved performance in 2011, in which the firm’s pre-tax profits  rose a mighty 53% from KES 9.8 billion in 2010 to KES 15.1 billion, the board  of director’s recommended a dividend of KES 1.85 that was discussed and passed by shareholders at the company's AGM. This marks a 48% increase in the dividend from last year’s KES 1.25 to KES 1.85 per ordinary share.

At the bank’s Annual General Meeting held last week, Chief Executive Mr. Martin Oduor-Otieno announced that the bank would reduce its base lending rates from 24% to 22% and had recently opened a new branch in Bujumbura, Burundi enhancing the bank's presence in the region.