Bloomberg News

Kenya’s Mumias Sugar Gains First Day in Four on Dividend Payment

September 29, 2011

Sept. 29 (Bloomberg) -- Mumias Sugar Co., Kenya’s biggest producer of the commodity, gained for the first day in four as investors bought shares to be entitled to a dividend.

The stock climbed as 0.8 percent to 6.5 shillings as of 3:08 p.m. in the capital, Nairobi.

Mumias will pay a final dividend of 0.50 shillings a share, Nairobi-based Kestrel Capital East Africa Ltd., said in an e- mailed note to clients today. Investors have until Nov. 4 to buy shares to be included, Kestrel said.

“Increased activity is expected on Mumias Sugar, which is trading cum-dividend,” according to the note.

--Editors: Linda Shen, Peter Branton

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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