KenGen profit dips 1.2% to KSh10.35bn as capital spending rises to KSh15.5bn and debt falls

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KenGen’s profit after tax fell 1.2% to KSh10.35 billion in the year to June 2026, even as revenue rose 6.4% to KSh59.7 billion and capital spending climbed 14.3% to KSh15.5 billion, according to results released at the company’s annual general meeting on October 29, Capital FM reported.

KenGen results 2026 at a glance

Why profit fell despite higher revenue

KenGen said the dip in net profit was mainly due to lower interest income, after it used cash reserves to fund investment in its plants instead of keeping it on deposit. Operating profit still grew 4.1%, so the core power business improved.

Dividend: KSh0.75 a share

Shareholders approved a dividend of KSh0.75 per share, down from KSh0.90. It is expected to be paid around January 21, 2027, to shareholders on the register as of October 29, 2026. See our KenGen dividend history and payment dates for past payouts.

Where the money is going

More than 90% of KenGen’s electricity came from renewable sources. Its project pipeline includes:

• the completed rehabilitation of Olkaria I geothermal station; read our report on Olkaria I’s return to 63MW;
• a proposed 42.5MW solar plant at Seven Forks;
• redevelopment of Gogo hydropower station;
• battery storage and raising Masinga Dam, both under consideration;
• the Green Energy Park in Olkaria, Naivasha, which has secured special economic zone status and offers businesses geothermal power, steam and industrial land.

Managing director Peter Njenga said Kenya’s peak electricity demand stands at 2,549MW. KenGen is also growing technical services, including geothermal drilling, engineering and plant maintenance.

Leadership change

Ronoh Kibet Charles, general manager for commercial services, takes over as MD and CEO on February 1, 2027, replacing Njenga. Read more on KenGen’s next CEO.

What it means for investors

The lower dividend reflects cash being directed to plant upgrades and debt reduction. Cutting borrowings by KSh12.2 billion lowers future interest costs and currency risk on foreign loans. Investors weighing the stock should balance a smaller near-term payout against new capacity and the Green Energy Park’s potential. As always, check the full annual report before buying.

FAQ

How much profit did KenGen make in 2026?

KSh10.35 billion after tax in the year to June 2026, down 1.2%.

What dividend is KenGen paying?

KSh0.75 per share, payable around January 21, 2027.

How much of Kenya’s power does KenGen supply?

57.2% of national demand in the year, at 8,975GWh.

Updated October 31, 2026.

Related: KenGen minority shareholders elect two directors in first minority-only board vote