Kenneth Marende [Photo/Nairobi Wire]
Reports have revealed that former National Assembly Speaker Kenneth Marende is paid Sh255,000 per month for being the chairman of Kenya Power.
As a result, the chairman takes home Sh3.07 million annually, according to the electricity distributors financial statements for the year ended June 2017.
However, Marende’s salary between 2008 and 2013 does not equate to the current salary of the House Speaker Justin Muturi which is Sh1.15 million per month (four times higher than Marende’s).
KPLC has successfully managed to expand its customer base to 6.3 million, following the implementation of a government project which will see homes are connected to the national grid at a subsidized cost of Sh15,000.
The revenue of the company is also up by 11 per cent to Sh120.7 billion in year to June and has maintained a Sh0.50 dividend per share.
The company will be looking to have its annual general meeting on December 1 to approve the dividend payout.