Nairobi, March 4 -- Absa Bank Kenya has increased its dividend payout by 17.1 percent to Sh2.05 per share amounting to Sh11.1 billion on the back of a 10 percent rise in net profit for the full year to December to Sh22.9 billion.

The lender announced that its board had recommended a final dividend of Sh1.85 per share bringing the total payout to Sh2.05 when added to the interim payout of Sh0.20.

The latest payout represents a rise from Sh1.75 per share, amounting to Sh9.5 billion paid a year earlier when net profit was Sh20.87 billion.

Absa is the first lender to release full year financials in a period when banks are expected to report higher dividend payout, following a 20 percent growth in industry earnings.

"The Board of Directors...