20-Share Index have shrugged off a tough business environment and economic uncertainty due to the coronavirus pandemic to pay shareholders more than Sh102.9 billion in dividends

Their latest payouts represent an increase of 8.6 percent on the Sh94.8 billion the companies paid in 2018, signalling that their boards and managements are confident they have adequate cash to navigate the crisis.

The record payout was hugely supported by Safaricom and banks’ dividends, which helped ease the blow to shareholders who have lost tens of billions in share price erosion at the Nairobi bourse.

The giant telco and the lenders account for than 75 percent of the market value of NSE, which has shed Sh395.97 billion since the start of the year as foreign investors withdrew amid turmoil in global markets in the wake of the pandemic.

Restrictions imposed to curb the spread of the virus like nationwide dusk-to-dawn curfew and ban on public gatherings has hit consumer spending, and subsequently company sales and profits.