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Umeme announces interim dividend

By Julius Businge 

Power distributor, Umeme Uganda Limited, in line with its dividend policy has announced an interim dividend of Shs 8 per share approved at its meeting held on Nov. 14, it said in a note released on Nov. 18.

The Board of Directors of the Company resolved to pay the total interim dividend worth Shs 13billion, basing on the performance of the Company over the period January to June, 2013.

The Company said the dividend will be paid out of retained earnings which stood at Shs 164billion as at 30 June 2013.

The dividend, which will be subjected to withholding tax where applicable, will be paid on 20 December 2013 to shareholders whose names appear on the Company’s share register at close of business on 9 December 2013.

The dividend will be paid into the shareholder bank accounts whose details are maintained by Securities Central Depository (SCD), the company said.

At the same meeting, the Board approved the appointment of Gerald Ssendaula, former finance minister as a Non-Executive Director of the Company effective Nov. 14.

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