Bonus shares for Kenya’s NIC Bank shareholders

From REUTERS

NAIROBI – Kenya’s NIC Bank said on Tuesday it had received regulatory approval for a bonus share issue of one new ordinary share for every 10 fully paid up ordinary shares.

Ranked in the second tier of Kenyan banks, NIC said in a statement that the bonus share issue remained subject to shareholder approval.Screen Shot 2014-04-08 at 08.19.16

The bank, which also operates in Tanzania and Uganda, posted an 11 percent rise in pretax profit in 2013, helped by growth in net interest income.

The new shares would be issued to shareholders on May 8, the bank said.

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