Nation Media Group distributes $2-Million Dividend to its Shareholders

Nation Media Group (NMG), the leading media conglomerate in East Africa, has announced the distribution of a $2-million dividend to its shareholders.
The decision was made during the virtual 60th annual general meeting held on June 30, with shareholders from different regions participating in the decision-making process.
Esteemed Kenyan businessman John Kimani is among the beneficiaries of this dividend payout. Kimani, who holds a 4.11-percent stake in NMG, will receive Ksh 11.7 million ($83,300). The distribution of dividends will also benefit Shah Karim al-Husayni, also known as Aga Khan IV, who owns a substantial 48.67-percent stake in the media company. He will be rewarded with approximately $1 million – Ksh 138 million ($982,000).
Founded by Aga Khan IV in 1959, NMG has grown to become the largest independent media house in East and Central Africa. The company operates across multiple platforms, including print, broadcast, and digital, in countries such as Kenya, Uganda, Tanzania, and Rwanda.
Despite facing challenges such as the depreciation of the Kenyan shilling against the dollar and the significant increase in newsprint prices, NMG managed to close the 2022 fiscal year with a net profit of Ksh470 million ($3.52 million). This success can be attributed to the resilience and adaptability of the company in the face of adversity.
Looking forward, NMG has ambitious plans for growth and development. The company aims to strengthen its print and broadcast businesses while also enhancing its digital-first content. By prioritising digital platforms, NMG aims to remain at the forefront of technological advancements and cater to the ever-changing needs of its audience.
The distribution of a $2-million dividend demonstrates NMG’s commitment to rewarding its shareholders and acknowledging their contribution to the company’s success. This move also reflects the company’s long-standing tradition of prioritising shareholder value and maintaining a strong financial position.
The corporation has achieved notable success with these strategies, as evidenced by a significant 25.3% increase in reach during the 2022 fiscal year. This resulted in a total audience of 57.9 million across multiple social media platforms and the company’s website.
NMG is taking steps to align its newsrooms and modify its content strategy in response to the changing needs of its audience. NMG continues to prioritise the delivery of trustworthy and cutting-edge media solutions as the media landscape continues to evolve.
With the support of its shareholders, NMG is well-positioned to navigate the challenges of the media industry and continue its trajectory of growth. The company’s ability to adapt to the evolving media landscape, coupled with its commitment to quality journalism and innovative content, will undoubtedly drive its future success.