- The dividend payout, according to USE, will be subject to the outcome of annual general meetings that different companies will be holding before the end of June. Other listed companies at the USE are yet to release their financial results.
Kampala. Shareholders, who own shares in some of the companies listed on the Uganda Securities Exchange will be a hundred thousand or million shillings richer following a profitable 2018.
The 2018 financial results released by different companies in March and April suggested a windfall for shareholders in British American Tobacco Limited, Stanbic Bank Uganda, dfcu Bank, Umeme and Equity Bank Limited.
The five companies, according to data from the Uganda Securities Exchange (USE), will pay out a consolidated sum of Shs450b in dividends between May and July.
Equity Bank, which is a cross-listed stock from Kenya, according to the data, will pay out the largest amount – contributing Shs279b to the consolidated pay out.
Each Equity shareholder will receive Shs74 for every share they hold in the Kenyan bank with subsidiaries across East Africa, including Uganda.
Stanbic Bank, which posted Shs215b in profit for the year ended December 2018 will pay out Shs90b in dividend with each shareholder receiving Shs1.9 for each share they hold. The bank road on a pickup in economic activities, which necessitated increased demand for loans across most economic sectors to post tremendous profits in 2018.
In the period under review the bank’s profitability grew by Shs15b compared to Shs200b posted in 2017. The bank is expected to payout its dividend on July 1.
Umeme shareholders will share Shs45b with each taking home Shs40.9 for every share they hold. This is expected to be paid out on July 17.
The power distributor continued to register tremendous profitability, posting Shs133b for the year ended December 2018.
The Umeme share has been performing well since it announced its results at the close of last month, rallying large trading volumes.
The counter grossed Shs8.68b in only three days from a sale of 28 million shares last week, which indicated that the counter had received a great share of the week’s trading activity.
Dfcu Bank, which saw its profitability drop by at least half will pay out Shs24b in dividends compared to Shs51b the bank paid out in the 2018 half year.
Each shareholder will receive Shs33.01 for every share they hold compared to Shs68.24 that was paid out in 2017.
Dfcu posted a profit drop of about 51.6 per cent, falling to Shs61.7b in the year ended December 2018 down from Shs127b posted in 2017.
British American Tobacco Uganda, which sells as Batu on the USE has put aside Shs12b to be paid out to shareholders as dividends.
Each shareholder is expected to receive Shs280 for every share they hold on June 21.
The dividend payout, according to USE, will be subject to the outcome of annual general meetings that different companies will be holding before the end of June. Other listed companies at the USE are yet to release their financial results.