Umeme Declares USh222 Interim Dividend After FY2024 Loss of USh510.6 Billion
Ugandan power distributor Umeme Ltd. will pay an interim dividend for FY2025 despite a substantial USh510.57 billion loss and negative basic EPS of USh(314.4) in the previous fiscal year.
Umeme Board Approves Interim Payout Amidst Post-Concession Restructuring
KAMPALA – Umeme Ltd. (UMEME), Uganda's former sole electricity distributor, has declared an interim dividend of 222 Ugandan shillings (equaivalent to Ksh.7.97) per ordinary share for the fiscal year ending Dec. 31, 2025. This payout comes despite the company reporting a significant net loss of USh510,568 million (approximately Ksh.18,336.70 million) for the full year 2024, with a basic earnings per share (EPS) of USh (314.4).
The board-approved dividend, announced today, is payable to shareholders on record as of July 14, 2025. Disbursements are scheduled to occur on or before July 31, 2025, in adherence to Rule 41 of the Uganda Securities Exchange (USE) Listing Rules.
The substantial FY2024 loss, a sharp reversal from prior profitability, was largely attributable to increased network repairs and maintenance costs, and expiration of Umeme's 20-year electricity distribution concession with the Ugandan government.
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Umeme did not recommend a final dividend for FY2024, underscoring its transition from an operating utility to an entity focused on capital recovery and maximizing shareholder value from its remaining assets and claims.
The company's shares, also cross-listed on the Nairobi Securities Exchange (NSE), have experienced volatility as investors weigh the dividend against the backdrop of the recent substantial loss and the ongoing arbitration proceedings regarding the more than $290 million still being sought by Umeme. The share price closed at Ksh.19.25, an increase of abou 56% on 24th June 2025.
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Shareholders are advised to ensure their banking or mobile money payment details are updated with Umeme to facilitate efficient processing of the dividend.
For further information:
- Website: www.umeme.co.ug
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