Announce a juicy dividend plus a special dividend and prop up the share price

2018 AGM someone asked this Question on increasing dividend and management clarified that KenGen's policy is 33% re-investment, 33% dividend, 33%[~30%] cooperate Tax.

Only way for dividend to increase is if the business performance improves.

I don't think KenGen has a choice but to cooperate to pay "cooperate" tax
Yes, I know you meant corporate tax. And it is not determined by what KenGen wants but depends on the KRA guidelines and tax laws.

Dividends are paid from post-tax profits.

Reinvestment could different from repayment of loans. It could mean investments in new plants or enhancing capacity.

Kengen in November will have successfully repaid the ksh.26bn bond taken in 2009 together with the 12.5% interest.
And they have also been paying dividends

Didn't KenGen go through a fund-raising via a huge Debt-to-Equity Conversion - done within a larger Rights Issue - not so long ago?

I am increasingly more attracted to firms that are dynamic but actively reducing their debt:equity ratios in these tough economic times.

KenGen has been paying off its bond over 9-10 years but it still carries a lot of debt as does KPLC.