The share price of diversified dealer Car and General rallied by 31.3 percent during trading on the Nairobi Securities Exchange (NSE) on Thursday, after it more than tripled its interim dividend payout.

The firm's shares touched a high of Sh285 each during the day, before closing at Sh242.25 per share-- marking a 11.2 percent gain, having opened at Sh217. NSE allowed the share change to exceed the intraday limit of 10 percent as it was trading following material disclosure raising its interim dividend to Sh1 per share from Sh0.30 per share the previous year, on the back of a fourfold profit rise.

C&G's share price has grown tenfold in the last 12 months, making it one of the stocks with the sharpest price rallies on the NSE lately.

One share of the diversified dealer was retailing at Sh24.75 per unit a year ago on the NSE, valuing the company at Sh1.98 billion before the rally, pushing its market capitalisation to the current Sh19.4 billion.

The company posted a profit after tax of Sh2.6 billion for the half-year ended June, up from Sh637 million in a similar period a year ago, propelled by mobile phone financing.

The firm, with five different business lines including automotive and equipment distribution, property investment, financial services, poultry and helmet manufacturing, saw its half-year earnings surpass full-year earnings of Sh2.44 billion reported in 2025.

“Profit after tax was Sh2.6 billion, compared with Sh637 million in the previous period. It has been a positive period for operations throughout the region,” C&G said.

“Profits from our associate, Watu, increased significantly, driven by the growth of mobile-phone financing and good performance in Kenya, Uganda, Tanzania, DRC, Nigeria, South Africa and Sierra Leone,” added the company.

C&G’s share of profit from Watu, which sells mobile phones on hire purchase in different African markets, jumped to Sh2 billion from Sh422 million booked in half-year 2025. This followed a regional expansion which saw Watu expand its footprint to Rwanda and South Africa during the year.

C&G’s revenues grew 30 percent, with Kenya recording the fastest growth of 40 percent. The company cited the sale of boda bodas as a major contributor.

“Most notably, Kenya motorcycle sales grew to an average of 12,000 units per month in 2026, up from 7,000 units per month in 2025. This represents a significant opportunity going forward,” said the company.

Its operating expenses rose 24.5 percent to Sh1.64 billion, signaling the increase in operations to drive revenues. The company reported that its helmet subsidiary, Boda Plus, which exports to Uganda, Tanzania, DRC, Rwanda and Burundi, is now profitable.

C&G said it would deepen its investment in two-wheeler and three-wheeler electric vehicles whose uptake was on the rise in Kenya and Tanzania.

“With our financing capabilities, we are confident that we can drive the transition to cleaner energy in the two-wheeler and three-wheeler markets across the continent,” said C&G.

The firm has observed a conservative dividend policy, having retained 88.8 percent of its profit last year, with management stating the company needs to increase volumes. Despite low dividend, investors have continued to hunt for the company’s share, resulting in the rally. C&G also has real estate holdings which include the Nairobi Mega Mall on Uhuru Highway and 22.5 acres in Shanzu.

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