The shareholders of Stanbic Uganda Holdings Limited (SUHL) have held their Annual General Meeting (AGM) at which they approved a final dividend. Consequently, each of the 22,400 shareholders will smile their way to the bank with a dividend payment of UGX 3.31 per share for the fiscal year 2024, totalling UGX155 billion. In March, the company released its balance sheet for the year ended December 31, which indicated that the company made a total profit of UGX411 billion, up from UGX357 billion in 2022. “We are delighted to announce a dividend of UGX 3.31 per share, a clear testament to our strong financial performance in 2024 and our unwavering commitment to delivering exceptional value to our shareholders,” said a post-AGM press release. “This pay-out reflects our resilience and strategic focus within a dynamic economic environment.” The approved dividend is scheduled for payment on or before June 27 to all shareholders registered by the book closure date of June 6, 2025. SUHL, which is listed on the Uganda Securities Exchange, comprises five subsidiaries with a total market capitalization amounting to more than UGX1 trillion. The subsidiaries are; Stanbic Bank Uganda Ltd, the leading commercial bank in the country, Stanbic Properties Limited, a real-estate company; and SBG Securities Uganda Ltd, an investment and brokerage firm. The others are; Stanbic Business Incubator Ltd, an enterprise development institution, and FlyHub Uganda Ltd, a technologies and innovations company. Board Chairman Baker Magunda reflected on the past year’s achievements, which he said was “an undoubtedly strong year for us, and I am immensely proud of the significant progress we have made towards achieving our purpose under the diligent stewardship of our boards.” Echoing this sentiment, Francis Karuhanga, CEO of Stanbic Uganda Holdings Ltd, highlighted the impressive returns for investors. “We are very pleased with the return on the money you invest in this company, which increased by 1.8% to 24.3%. This is notably the highest return, especially within the banking and financial services sector.” The AGM also ushered in significant changes and re-affirmations to SUHL’s governance structure. Norbert Kagoro was formally appointed as an Independent Non-Executive Director. Magunda and Mrs. Agnes Asiimwe Konde were re-elected as Independent Non-Executive Directors, while Ernst & Young Uganda (EY) was re-appointed as the External Auditors. The meeting also marked a moment of respectful farewell as shareholders acknowledged the retirement of Mrs. Eva Kavuma from the Board of Stanbic Bank Uganda Limited after nine years of service. “We extend our deepest gratitude to Eva Kavuma for her invaluable contributions and dedicated service over nearly a decade,” said Rita Kabatunzi, Company Secretary, on behalf of the Board.
