BAT Kenya to Pay KSh 70 Dividend Per Share as Profit Rises to KShs 5.25 Bn

Listed multinational BAT Kenya has reported higher earnings for the year ended 31 December 2025, with profit after tax rising 17% to KSh 5.25 billion from KSh 4.48 billion the previous year.

• •Profit before tax increased 18% to KSh 7.7 billion, while earnings per share climbed to KSh 52.46 from 44.83.
• •The improved profitability came despite a 10% decline in net revenue to KSh 23.2 billion, down from KSh 25.7 billion in 2024.
• •The Board has proposed a final dividend of KSh 60 per share, bringing the dividend to KSh 70 per share, a total payout of approximately KSh 7.0 billion that exceeds the year’s net profit.

Gross sales including indirect taxes fell to KSh 35.9 billion from KSh 41.1 billion. The revenue contraction was largely attributed to rising illicit cigarette trade, now estimated at 45% of the domestic market, up from 37% a year earlier. Export sales, which account for roughly half of total revenue, remained stable, while oral nicotine pouch sales resumed in the second half of the year, partially cushioning the decline.

Cost containment played a central role in protecting margins. Total cost operations fell 15% to KSh 15.7 billion, reflecting lower volumes and ongoing efficiency measures. Operating profit edged up 2% to KSh 7.48 billion. Finance income of KSh 196 million, compared to a finance cost of KSh 829 million in 2024, further lifted earnings, supported by exchange rate stability and improved cash management.

Cash generated from operations stood at KSh 8.6 billion, with net cash from operating activities at KShs 6.6 billion after tax and interest payments. Closing cash balances rose 15% to KSh 6.2 billion. Total assets remained broadly stable at KSh 17.4 billion, while shareholders’ funds stood at KSh 15.5 billion after dividend payments during the year.

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