Dividend will be in the region 0.15-0.25 per share

I give it a 0.2 chance of dividend.
In other terms, the chances of a dividend are slim.
This is due to the following:
- The hawkish nature of the managing director; Rebecca Miano. That woman radiates delayed gratification; which is a good thing in the long run. Treasury, the main Shareholder not the MD calls the shot on dividend payment
- A list of capital intensive projects with commissioning dates between 2019 and 2020. mostly funded with concessionary debt. Kengen should be able to generate cash for the Equity holders using the debt leverage

I would prescribe a slow accumulation on this counter over the years.

Disruption by new market entrants (300 MW Lake Turkana Wind Power Project) Kengen gets paid for all installed and supplied power based on tariffs fixed by ERC. New power from LTWP doesn't affect Kengen income and a depressed manufacturing sector are the major threats to this counter. Kenya still running power deficit. Imports from Uganda. Room for growth

It will be interesting to see how this part of the play turns out.

Looks like FY results will be out next week at the last day of the month.