UMEME AGM 2023: Shareholders to receive dividend in July 2023
Drake Nyamugabwa
UMEME Uganda Limited held a successful Annual General Meeting (AGM) on Thursday 18th May 2023 at Sheraton hotel Kampala to pass resolutions on behalf of the company shareholders
Contained in the post-Annual General Notice released on Friday 19th May 2023, the ordinary resolutions included Receipt and adoption of the annual audited financial statements for the year ended 31st December 2022, including the reports of the Directors and External Auditors, Declaration of a final dividend, and election of Non-Executive Directors among others.
Dr. Patrick Bitature was re-elected as Non-Executive Director together with Ms. Florence Mawejje and Hon. Gerald Ssendaula while Ernst & Young Uganda was re-appointed as External Auditors of the Company for the year 2023.
The 2023 UMEME AGM held on Thursday 18th May 2023.
It was declared that the final dividend of Ugx 63.9 per be paid for ordinary shareholders on or about 20th July 2023.
“The dividend, which is subject to withholding tax, will be paid on or about 20th July, 2023 to shareholders whose names appear on the Company's register at close of business on 30th June 2023. Shareholders are advised to contact their brokers to update their bank account details. Shareholders desiring to receive dividend payments through mobile money should send an email including the registered mobile number” partly reads the notice
Umeme connected 121,132 prospects between January 2022 and December 2022 compared to 57,000 over the same period in 2021. The additions tip the customer base to 1,757,563 customers.
This year, the Company plans to connect 240,000.
The Government in 2022 rolled out the Hybrid Connection Programme through which the connection costs were ‘reduced’ from UGX720,000 to UGX470,000.
Prospective customers who cannot raise the UGX470,000 are free to pay UGX200,000 and take a Uganda Development Bank (UDB) loan of UGX270,000 to complete the payment.
