CRDB board proposes 30 percent dividend rise
From left: The CEO of CRDB Bank Foundation, Tully Esther Mwambapa, vice chaiperson of the board, Prof Neema Mori, chairman of the board, Dr Aly Laay, group CEO of CRDB Bank, Abdulmajid Nsekela and company secretary, Pascal Mihayo, display the CRDB Bank 2024 Annual Report in Arusha on May 14, 2025. PHOTO | COURTESY
What you need to know:
- The proposed rise would see the dividend per share climb to Sh65 this year, up from Sh50 last year.
Arusha. CRDB Bank Plc shareholders will convene here over the weekend for the bank’s 30th Annual General Meeting (AGM), with the board proposing a 30 percent increase in dividend pay out.
The proposed rise would see the dividend per share climb to Sh65 this year, up from Sh50 last year.
The announcement comes as the bank marks its 30th anniversary.
Speaking yesterday CRDB Board Chairman, Dr Ally Laay, said the AGM would be preceded by a special seminar open to shareholders and the general public.
“This historic seminar will be held under this year’s theme, 30 Years of Growing with You, and will be officially opened by the Vice President, Dr Philip Isdor Mpango,” said Dr Laay.
“It is an important opportunity to reflect on our collective achievements, the challenges we have overcome and our direction for the future.”
Key agenda items for the AGM include approval of the proposed dividend, election of board members, appointment of external auditors, proposed amendments to the bank’s constitution, and presentation of the board report and audited financial statements.
30 percent increase in profit
During the CRDB annual investors’ forum held in Dar es Salaam on Tuesday, May 6, 2025, group ceo and managing director, Abdulmajid Nsekela, revealed that the group’s profit after tax had surged by 30.3 percent to a record Sh551 billion in 2024.
Addressing reporters here on Wednesday, Mr Nsekela described the bank’s growth as “tremendous” and encouraged shareholders to attend the AGM in large numbers.
The meeting will be conducted in a hybrid format, enabling participation both physically and virtually.
“We have provided clear guidance on how to attend the AGM online through our website, social media platforms, and SMS notifications sent directly to shareholders,” said Mr Nsekela. “The Bank is fully committed to ensuring smooth and inclusive participation.”
He urged shareholders to take part in the landmark AGM, emphasising that their presence would be an opportunity to celebrate CRDB’s achievements and help shape its future direction.
“We have built a strong institution that delivers excellent services, creates shareholder value, and contributes meaningfully to national development. This is a golden opportunity for shareholders to take pride in their role in this success story,” he said.
