Nairobi, Aug. 24 -- More firms listed on the Nairobi Securities Exchange (NSE) have defied profit drops to increase dividend payouts amid pressure on management to share the falling earnings.

Regulatory filings indicate that nine firms increased or maintained dividends despite a fall in profits, while a further nine raised the shareholder payouts at a faster rate than earnings growth.

Absa Bank Kenya, Standard Chartered Bank Kenya (StanChart), BOC Kenya, Centum Investment Company and Kenya Power have raised dividends despite falling profits, while TPS Eastern Africa, CIC Insurance Group, Kenya Re and Liberty Kenya Holdings maintained payouts despite weaker earnings.

This is a windfall to shareholders who have also made market capital g...